Dupont Capital Management Corp lowered its position in shares of Nucor Co. (NYSE:NUE) by 77.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,494 shares of the basic materials company’s stock after selling 53,757 shares during the quarter. Dupont Capital Management Corp’s holdings in Nucor were worth $642,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in NUE. Marshall Wace North America L.P. acquired a new stake in shares of Nucor during the first quarter valued at approximately $54,000. FMR LLC raised its holdings in shares of Nucor by 123.0% during the first quarter. FMR LLC now owns 674,154 shares of the basic materials company’s stock valued at $39,337,000 after acquiring an additional 371,876 shares during the period. Guggenheim Capital LLC raised its holdings in shares of Nucor by 16.7% during the fourth quarter. Guggenheim Capital LLC now owns 319,334 shares of the basic materials company’s stock valued at $17,972,000 after acquiring an additional 45,796 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Nucor by 199.9% during the fourth quarter. Janus Henderson Group PLC now owns 294,178 shares of the basic materials company’s stock valued at $16,554,000 after acquiring an additional 196,081 shares during the period. Finally, Macquarie Group Ltd. raised its holdings in shares of Nucor by 2,031.8% during the fourth quarter. Macquarie Group Ltd. now owns 134,347 shares of the basic materials company’s stock valued at $7,562,000 after acquiring an additional 128,045 shares during the period. Institutional investors and hedge funds own 75.06% of the company’s stock.
Shares of NUE opened at $41.95 on Friday. The company’s fifty day moving average is $41.60 and its 200-day moving average is $41.88. Nucor Co. has a 12 month low of $27.52 and a 12 month high of $58.70. The firm has a market cap of $12.63 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 1.69 and a beta of 1.43. The company has a quick ratio of 2.68, a current ratio of 4.39 and a debt-to-equity ratio of 0.50.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.4025 per share. The ex-dividend date is Monday, June 29th. This represents a $1.61 annualized dividend and a dividend yield of 3.84%. Nucor’s dividend payout ratio (DPR) is 37.35%.
A number of research firms have recently issued reports on NUE. KeyCorp boosted their price target on shares of Nucor from $45.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, June 10th. JPMorgan Chase & Co. dropped their price objective on shares of Nucor from $57.00 to $42.00 and set an “overweight” rating on the stock in a research note on Friday, April 17th. UBS Group dropped their price objective on shares of Nucor from $56.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. BMO Capital Markets upped their price objective on shares of Nucor from $42.00 to $46.00 and gave the company a “market perform” rating in a research note on Friday, June 19th. They noted that the move was a valuation call. Finally, Credit Suisse Group lowered shares of Nucor from an “outperform” rating to a “neutral” rating in a research note on Wednesday, April 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $50.17.
In related news, CEO Leon J. Topalian sold 9,389 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $43.18, for a total transaction of $405,417.02. Following the completion of the sale, the chief executive officer now directly owns 118,090 shares of the company’s stock, valued at approximately $5,099,126.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Allen C. Behr sold 2,076 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $42.56, for a total transaction of $88,354.56. Following the sale, the executive vice president now directly owns 47,579 shares of the company’s stock, valued at $2,024,962.24. The disclosure for this sale can be found here. Corporate insiders own 1.39% of the company’s stock.
Nucor Company Profile
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. It operates in three segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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