Nucor Co. (NUE) Shares Bought by BB&T Investment Services Inc.
BB&T Investment Services Inc. grew its stake in Nucor Co. (NYSE:NUE) by 45.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 13,442 shares of the basic materials company’s stock after acquiring an additional 4,177 shares during the period. BB&T Investment Services Inc.’s holdings in Nucor were worth $751,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. purchased a new stake in Nucor during the 2nd quarter worth approximately $7,042,000. Tdam USA Inc. increased its stake in Nucor by 27.9% during the 2nd quarter. Tdam USA Inc. now owns 5,784 shares of the basic materials company’s stock worth $336,000 after buying an additional 1,263 shares during the period. Cliftonlarsonallen Wealth Advisors LLC increased its stake in Nucor by 6.0% during the 2nd quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 11,816 shares of the basic materials company’s stock worth $684,000 after buying an additional 674 shares during the period. HL Financial Services LLC purchased a new stake in Nucor during the 2nd quarter worth approximately $401,000. Finally, Pioneer Investment Management Inc. increased its stake in Nucor by 437.2% during the 2nd quarter. Pioneer Investment Management Inc. now owns 1,813,506 shares of the basic materials company’s stock worth $104,947,000 after buying an additional 1,475,935 shares during the period. 74.55% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider D. Chad Utermark sold 9,003 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $59.72, for a total value of $537,659.16. Following the completion of the transaction, the insider now owns 73,883 shares in the company, valued at approximately $4,412,292.76. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Victoria F. Haynes sold 2,500 shares of the company’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $55.16, for a total transaction of $137,900.00. Following the completion of the transaction, the director now owns 33,573 shares of the company’s stock, valued at approximately $1,851,886.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,217 shares of company stock valued at $2,608,231. Company insiders own 0.70% of the company’s stock.
Shares of Nucor Co. (NYSE NUE) traded down $1.22 during trading hours on Tuesday, hitting $57.60. 761,125 shares of the company’s stock were exchanged, compared to its average volume of 2,678,714. Nucor Co. has a 52 week low of $51.67 and a 52 week high of $68.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 2.11. The stock has a market cap of $18,380.00, a P/E ratio of 16.85, a PEG ratio of 1.29 and a beta of 1.58.
Nucor (NYSE:NUE) last announced its quarterly earnings data on Thursday, October 19th. The basic materials company reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.01. Nucor had a net margin of 5.80% and a return on equity of 12.78%. The company had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the prior year, the firm posted $0.88 EPS. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. research analysts expect that Nucor Co. will post 3.69 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, December 29th will be issued a $0.38 dividend. This is a boost from Nucor’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.52 annualized dividend and a dividend yield of 2.64%. Nucor’s dividend payout ratio is presently 42.06%.
Several brokerages recently weighed in on NUE. ValuEngine raised shares of Nucor from a “hold” rating to a “buy” rating in a research note on Friday. Credit Suisse Group cut their target price on shares of Nucor from $68.00 to $63.00 and set a “buy” rating on the stock in a research note on Thursday, September 28th. Bank of America cut their target price on shares of Nucor from $73.00 to $71.00 and set a “buy” rating on the stock in a research note on Friday, October 20th. Longbow Research downgraded shares of Nucor from a “buy” rating to a “neutral” rating and upped their target price for the stock from $55.01 to $56.04 in a research note on Monday, October 2nd. Finally, Jefferies Group set a $68.00 target price on shares of Nucor and gave the stock a “buy” rating in a research note on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $67.32.
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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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