Caisse DE Depot ET Placement DU Quebec Acquires 2,400 Shares of Nucor Co. (NUE)
Caisse DE Depot ET Placement DU Quebec grew its holdings in Nucor Co. (NYSE:NUE) by 2.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 118,200 shares of the basic materials company’s stock after buying an additional 2,400 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Nucor were worth $6,652,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in the company. Accredited Investors Inc. raised its stake in shares of Nucor by 0.6% in the 2nd quarter. Accredited Investors Inc. now owns 3,917 shares of the basic materials company’s stock valued at $227,000 after buying an additional 25 shares in the last quarter. Boys Arnold & Co. Inc. increased its position in shares of Nucor by 0.3% during the 2nd quarter. Boys Arnold & Co. Inc. now owns 16,679 shares of the basic materials company’s stock worth $965,000 after purchasing an additional 50 shares in the last quarter. Chartwell Investment Partners LLC increased its position in shares of Nucor by 0.5% during the 2nd quarter. Chartwell Investment Partners LLC now owns 12,180 shares of the basic materials company’s stock worth $705,000 after purchasing an additional 55 shares in the last quarter. Sigma Planning Corp increased its position in shares of Nucor by 1.4% during the 2nd quarter. Sigma Planning Corp now owns 4,647 shares of the basic materials company’s stock worth $269,000 after purchasing an additional 62 shares in the last quarter. Finally, Security National Bank of Sioux City Iowa IA increased its position in shares of Nucor by 0.4% during the 2nd quarter. Security National Bank of Sioux City Iowa IA now owns 21,597 shares of the basic materials company’s stock worth $1,249,000 after purchasing an additional 77 shares in the last quarter. Institutional investors own 74.55% of the company’s stock.
In related news, insider D. Chad Utermark sold 9,003 shares of Nucor stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $59.72, for a total transaction of $537,659.16. Following the transaction, the insider now owns 73,883 shares of the company’s stock, valued at approximately $4,412,292.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Victoria F. Haynes sold 2,500 shares of Nucor stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $55.16, for a total transaction of $137,900.00. Following the transaction, the director now directly owns 33,573 shares in the company, valued at approximately $1,851,886.68. The disclosure for this sale can be found here. Insiders sold a total of 44,217 shares of company stock worth $2,608,231 in the last ninety days. Insiders own 0.70% of the company’s stock.
A number of equities research analysts recently issued reports on NUE shares. Credit Suisse Group increased their target price on shares of Nucor from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Friday, October 20th. BMO Capital Markets set a $70.00 target price on shares of Nucor and gave the stock a “hold” rating in a research report on Saturday, August 26th. Macquarie started coverage on shares of Nucor in a research report on Wednesday, September 6th. They set a “neutral” rating and a $57.00 target price for the company. Morgan Stanley cut shares of Nucor from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $78.00 to $60.00 in a research report on Tuesday, September 12th. Finally, KeyCorp reiterated a “hold” rating on shares of Nucor in a research report on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $67.32.
Nucor Co. (NUE) opened at $60.17 on Friday. The stock has a market cap of $18,626.74, a PE ratio of 17.23, a PEG ratio of 1.32 and a beta of 1.58. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.11 and a quick ratio of 1.12. Nucor Co. has a one year low of $51.67 and a one year high of $66.37.
Nucor (NYSE:NUE) last issued its earnings results on Thursday, October 19th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.01. The company had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.19 billion. Nucor had a net margin of 5.80% and a return on equity of 12.78%. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 EPS. sell-side analysts expect that Nucor Co. will post 3.69 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, December 29th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend is Thursday, December 28th. This is a positive change from Nucor’s previous quarterly dividend of $0.38. Nucor’s dividend payout ratio (DPR) is 43.90%.
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Nucor Company 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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