Deprince Race & Zollo Inc. Sells 139,155 Shares of Nucor Corp. (NUE)
Deprince Race & Zollo Inc. reduced its position in shares of Nucor Corp. (NYSE:NUE) by 15.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 759,169 shares of the company’s stock after selling 139,155 shares during the period. Deprince Race & Zollo Inc. owned approximately 0.24% of Nucor Corp. worth $37,511,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in NUE. Aperio Group LLC boosted its stake in Nucor Corp. by 23.1% in the first quarter. Aperio Group LLC now owns 72,969 shares of the company’s stock worth $3,451,000 after buying an additional 13,715 shares in the last quarter. Virginia Retirement System purchased a new stake in Nucor Corp. during the first quarter worth approximately $1,347,000. IFP Advisors Inc boosted its stake in Nucor Corp. by 5.6% in the first quarter. IFP Advisors Inc now owns 5,407 shares of the company’s stock worth $256,000 after buying an additional 287 shares in the last quarter. Pacad Investment Ltd. purchased a new stake in Nucor Corp. during the first quarter worth approximately $383,000. Finally, Ngam Advisors L.P. boosted its stake in Nucor Corp. by 3.4% in the first quarter. Ngam Advisors L.P. now owns 122,366 shares of the company’s stock worth $5,788,000 after buying an additional 4,004 shares in the last quarter. Institutional investors and hedge funds own 77.92% of the company’s stock.
Shares of Nucor Corp. (NYSE:NUE) traded down 1.27% during midday trading on Monday, reaching $48.82. 3,005,347 shares of the company’s stock traded hands. Nucor Corp. has a 12 month low of $33.90 and a 12 month high of $57.08. The stock has a 50-day moving average price of $48.65 and a 200 day moving average price of $49.60. The firm has a market cap of $15.54 billion, a PE ratio of 33.46 and a beta of 1.47.
Nucor Corp. (NYSE:NUE) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.73 earnings per share for the quarter, beating the 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 firm earned $4.25 billion during the quarter, compared to the consensus estimate of $4.49 billion. Equities research analysts predict that Nucor Corp. will post $2.71 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, September 30th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Wednesday, September 28th. Nucor Corp.’s payout ratio is presently 102.04%.
NUE has been the subject of a number of recent analyst reports. Credit Suisse Group AG upped their price objective on shares of Nucor Corp. from $45.00 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, June 8th. Jefferies Group restated a “buy” rating and issued a $60.00 price objective (up previously from $56.00) on shares of Nucor Corp. in a research report on Friday, June 10th. Bank of America Corp. restated a “buy” rating on shares of Nucor Corp. in a research report on Friday, June 17th. Argus upgraded shares of Nucor Corp. from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Friday, June 24th. Finally, Zacks Investment Research upgraded shares of Nucor Corp. from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Monday, June 27th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $53.14.
In other news, CFO James D. Frias sold 9,000 shares of the business’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $53.14, for a total transaction of $478,260.00. Following the completion of the sale, the chief financial officer now directly owns 156,065 shares of the company’s stock, valued at $8,293,294.10. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider James R. Darsey sold 71,465 shares of the business’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $52.45, for a total transaction of $3,748,339.25. Following the sale, the insider now directly owns 234,135 shares of the company’s stock, valued at $12,280,380.75. The disclosure for this sale can be found here. Insiders own 0.63% of the company’s stock.
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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