Nucor Corp. (NUE) Shares Sold by Fisher Asset Management LLC
Fisher Asset Management LLC decreased its stake in Nucor Corp. (NYSE:NUE) by 13.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 99,775 shares of the company’s stock after selling 16,043 shares during the period. Fisher Asset Management LLC’s holdings in Nucor Corp. were worth $4,934,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the company. Acadian Asset Management LLC increased its stake in shares of Nucor Corp. by 759.7% in the second quarter. Acadian Asset Management LLC now owns 478,296 shares of the company’s stock valued at $23,633,000 after buying an additional 422,661 shares during the last quarter. Rainier Investment Management LLC increased its stake in shares of Nucor Corp. by 31.4% in the second quarter. Rainier Investment Management LLC now owns 223,510 shares of the company’s stock valued at $11,044,000 after buying an additional 53,460 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Nucor Corp. by 29.0% in the third quarter. BNP Paribas Arbitrage SA now owns 208,674 shares of the company’s stock valued at $10,319,000 after buying an additional 46,947 shares during the last quarter. Retirement Systems of Alabama increased its stake in shares of Nucor Corp. by 98.2% in the second quarter. Retirement Systems of Alabama now owns 516,759 shares of the company’s stock valued at $25,533,000 after buying an additional 256,096 shares during the last quarter. Finally, Alps Advisors Inc. increased its stake in shares of Nucor Corp. by 8.2% in the second quarter. Alps Advisors Inc. now owns 520,666 shares of the company’s stock valued at $25,726,000 after buying an additional 39,329 shares during the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.
Nucor Corp. (NYSE:NUE) traded down 0.55% during midday trading on Tuesday, reaching $61.63. 3,220,670 shares of the company’s stock were exchanged. The stock has a market cap of $19.63 billion, a PE ratio of 38.66 and a beta of 1.38. Nucor Corp. has a 12 month low of $33.90 and a 12 month high of $62.90. The firm has a 50 day moving average of $52.56 and a 200-day moving average of $50.70.
Nucor Corp. (NYSE:NUE) last issued its earnings results on Thursday, October 20th. The company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by $0.06. The business had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $3.77 billion. Nucor Corp. had a return on equity of 9.27% and a net margin of 3.26%. Nucor Corp.’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.71 EPS. On average, equities research analysts predict that Nucor Corp. will post $2.34 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Friday, September 30th were given a $0.375 dividend. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.43%. Nucor Corp.’s dividend payout ratio (DPR) is currently 93.75%.
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NUE has been the subject of several research analyst reports. Zacks Investment Research raised shares of Nucor Corp. from a “strong sell” rating to a “hold” rating in a report on Friday, November 11th. Citigroup Inc. initiated coverage on shares of Nucor Corp. in a report on Monday, August 22nd. They set a “neutral” rating and a $55.00 target price for the company. Argus reaffirmed a “buy” rating and set a $65.00 target price (up previously from $58.00) on shares of Nucor Corp. in a report on Monday, November 21st. Berenberg Bank reissued a “hold” rating and issued a $57.50 price objective on shares of Nucor Corp. in a report on Tuesday, September 20th. Finally, BMO Capital Markets set a $51.00 price objective on shares of Nucor Corp. and gave the company a “hold” rating in a report on Wednesday, September 14th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $53.75.
Nucor Corp. Company Profile
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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