Nucor Corporation (NUE) Holdings Lifted by Rational Advisors LLC
Rational Advisors LLC lifted its position in Nucor Corporation (NYSE:NUE) by 8.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 34,940 shares of the basic materials company’s stock after purchasing an additional 2,600 shares during the period. Nucor Corporation accounts for about 1.0% of Rational Advisors LLC’s investment portfolio, making the stock its 18th biggest position. Rational Advisors LLC’s holdings in Nucor Corporation were worth $1,958,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Nucor Corporation by 1.3% in the second quarter. Vanguard Group Inc. now owns 25,573,754 shares of the basic materials company’s stock worth $1,479,954,000 after buying an additional 319,596 shares in the last quarter. Northern Trust Corp raised its stake in Nucor Corporation by 15.0% in the second quarter. Northern Trust Corp now owns 5,759,017 shares of the basic materials company’s stock worth $333,275,000 after buying an additional 750,796 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Nucor Corporation by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,471,347 shares of the basic materials company’s stock worth $258,776,000 after buying an additional 352,694 shares in the last quarter. Prudential PLC raised its stake in Nucor Corporation by 28.2% in the second quarter. Prudential PLC now owns 2,260,300 shares of the basic materials company’s stock worth $130,804,000 after buying an additional 496,700 shares in the last quarter. Finally, Boston Partners raised its stake in Nucor Corporation by 3.7% in the third quarter. Boston Partners now owns 1,961,046 shares of the basic materials company’s stock worth $109,897,000 after buying an additional 70,358 shares in the last quarter. Hedge funds and other institutional investors own 74.92% of the company’s stock.
A number of equities analysts have recently issued reports on NUE shares. Credit Suisse Group reduced their price target on Nucor Corporation from $68.00 to $63.00 and set a “buy” rating on the stock in a research report on Thursday, September 28th. KeyCorp reaffirmed a “hold” rating on shares of Nucor Corporation in a research report on Tuesday, September 19th. ValuEngine downgraded Nucor Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Cowen and Company upped their price target on Nucor Corporation from $57.00 to $63.00 and gave the stock a “market perform” rating in a research report on Monday, October 23rd. Finally, Morgan Stanley downgraded Nucor Corporation from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $78.00 to $60.00 in a research report on Tuesday, September 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $67.32.
In other news, insider D. Chad Utermark sold 9,003 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $59.72, for a total transaction of $537,659.16. Following the sale, the insider now directly owns 73,883 shares of the company’s stock, valued at approximately $4,412,292.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Ladd R. Hall sold 17,583 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $57.94, for a total transaction of $1,018,759.02. Following the transaction, the insider now owns 206,406 shares of the company’s stock, valued at approximately $11,959,163.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,217 shares of company stock worth $2,608,231. Corporate insiders own 0.70% of the company’s stock.
Nucor Corporation (NUE) traded up $0.40 during mid-day trading on Monday, hitting $55.20. 433,315 shares of the stock traded hands, compared to its average volume of 2,690,896. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 2.11. Nucor Corporation has a twelve month low of $51.67 and a twelve month high of $68.00. The stock has a market cap of $17,420.00, a price-to-earnings ratio of 16.12, a P/E/G ratio of 1.23 and a beta of 1.59.
Nucor Corporation (NYSE:NUE) last posted its earnings results on Thursday, October 19th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.01. Nucor Corporation had a net margin of 5.80% and a return on equity of 12.78%. The business had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same period in the prior year, the company posted $0.88 EPS. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. research analysts expect that Nucor Corporation will post 3.7 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Friday, September 29th were paid a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend was Thursday, September 28th. Nucor Corporation’s payout ratio is currently 42.06%.
Nucor Corporation Profile
Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).
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