Brown Advisory Inc. increased its stake in Nucor Corp. (NYSE:NUE) by 8.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,724 shares of the company’s stock after buying an additional 904 shares during the period. Brown Advisory Inc.’s holdings in Nucor Corp. were worth $579,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. NEXT Financial Group Inc boosted its position in Nucor Corp. by 4.5% in the second quarter. NEXT Financial Group Inc now owns 2,310 shares of the company’s stock valued at $114,000 after buying an additional 100 shares during the period. Brookfield Asset Management Inc. bought a new position in Nucor Corp. during the first quarter valued at $147,000. Kanaly Trust Co boosted its position in Nucor Corp. by 0.5% in the second quarter. Kanaly Trust Co now owns 3,326 shares of the company’s stock valued at $164,000 after buying an additional 15 shares during the period. Acrospire Investment Management LLC bought a new position in Nucor Corp. during the first quarter valued at $170,000. Finally, Pittenger & Anderson Inc. boosted its position in Nucor Corp. by 0.7% in the second quarter. Pittenger & Anderson Inc. now owns 3,625 shares of the company’s stock valued at $179,000 after buying an additional 25 shares during the period. Hedge funds and other institutional investors own 77.92% of the company’s stock.
Nucor Corp. (NYSE:NUE) opened at 49.45 on Friday. The stock’s 50 day moving average is $48.71 and its 200-day moving average is $49.54. Nucor Corp. has a 1-year low of $33.90 and a 1-year high of $57.08. The firm has a market capitalization of $15.74 billion, a P/E ratio of 33.89 and a beta of 1.48.
Nucor Corp. (NYSE:NUE) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.03. Nucor Corp. had a net margin of 3.00% and a return on equity of 8.58%. The company earned $4.25 billion during the quarter, compared to analysts’ expectations of $4.49 billion. Analysts forecast that Nucor Corp. will post $2.71 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, September 30th will be paid a $0.375 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.03%. Nucor Corp.’s dividend payout ratio (DPR) is 102.04%.
Several research firms recently weighed in on NUE. Zacks Investment Research cut shares of Nucor Corp. from a “buy” rating to a “hold” rating in a research report on Friday, July 1st. Berenberg Bank cut shares of Nucor Corp. from a “buy” rating to a “hold” rating and set a $57.50 target price for the company. in a research report on Friday, July 22nd. They noted that the move was a valuation call. Jefferies Group dropped their target price on shares of Nucor Corp. from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Thursday, September 15th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $59.50 target price on shares of Nucor Corp. in a research report on Friday, July 22nd. Finally, Cowen and Company upped their target price on shares of Nucor Corp. from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Tuesday, July 26th. One analyst has rated the stock with a sell rating, ten have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $53.14.
In other news, CFO James D. Frias sold 9,000 shares of the company’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $53.14, for a total value of $478,260.00. Following the completion of the sale, the chief financial officer now owns 156,065 shares of the company’s stock, valued at approximately $8,293,294.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman John J. Ferriola sold 12,128 shares of the company’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $54.12, for a total transaction of $656,367.36. Following the completion of the sale, the chairman now directly owns 354,420 shares of the company’s stock, valued at approximately $19,181,210.40. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by insiders.
About Nucor Corp.
Nucor Corporation (Nucor) manufactures steel and steel products. The Company also produces direct reduced iron (DRI) for use in the Company’s steel mills. It also processes ferrous and nonferrous metals and brokers ferrous and nonferrous metals, pig iron, hot briquetted iron (HBI) and DRI. Nucor operates in three segments: steel mills, steel products and raw materials.
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