Robeco Institutional Asset Management B.V. Acquires 23,608 Shares of Nucor Corporation (NUE)
Robeco Institutional Asset Management B.V. boosted its position in shares of Nucor Corporation (NYSE:NUE) by 11.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 238,518 shares of the basic materials company’s stock after buying an additional 23,608 shares during the period. Robeco Institutional Asset Management B.V. owned 0.07% of Nucor Corporation worth $13,802,000 as of its most recent filing with the SEC.
Other large investors have also recently added to or reduced their stakes in the company. Linscomb & Williams Inc. raised its stake in Nucor Corporation by 2.4% in the first quarter. Linscomb & Williams Inc. now owns 18,702 shares of the basic materials company’s stock worth $1,117,000 after buying an additional 439 shares during the last quarter. Central Bank & Trust Co. raised its stake in Nucor Corporation by 64.6% in the first quarter. Central Bank & Trust Co. now owns 42,000 shares of the basic materials company’s stock worth $2,508,000 after buying an additional 16,483 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in Nucor Corporation by 1.0% in the first quarter. Oregon Public Employees Retirement Fund now owns 71,212 shares of the basic materials company’s stock worth $4,253,000 after buying an additional 700 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its stake in Nucor Corporation by 7.1% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 25,948 shares of the basic materials company’s stock worth $1,549,000 after buying an additional 1,728 shares during the last quarter. Finally, Wetherby Asset Management Inc. purchased a new stake in Nucor Corporation during the first quarter worth $223,000. 74.96% of the stock is owned by institutional investors and hedge funds.
Nucor Corporation (NYSE NUE) opened at 54.93 on Wednesday. The firm has a market cap of $17.55 billion, a PE ratio of 15.42 and a beta of 1.51. The firm’s 50-day moving average is $57.51 and its 200 day moving average is $59.22. Nucor Corporation has a 1-year low of $44.81 and a 1-year high of $68.00.
Nucor Corporation (NYSE:NUE) last released its quarterly earnings data on Thursday, July 20th. The basic materials company reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.06 by $0.06. Nucor Corporation had a net margin of 6.08% and a return on equity of 13.39%. The business had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.08 billion. During the same period last year, the business earned $0.73 earnings per share. The business’s quarterly revenue was up 21.9% compared to the same quarter last year. On average, equities analysts forecast that Nucor Corporation will post $4.16 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 11th. Stockholders of record on Friday, June 30th were paid a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend was Wednesday, June 28th. Nucor Corporation’s payout ratio is 43.77%.
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A number of equities research analysts recently weighed in on the stock. Cowen and Company reaffirmed a “market perform” rating and set a $63.00 price target (up from $62.00) on shares of Nucor Corporation in a report on Tuesday, July 25th. BidaskClub upgraded shares of Nucor Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Barclays PLC reiterated a “buy” rating and set a $73.00 price objective on shares of Nucor Corporation in a research note on Friday, May 5th. Morgan Stanley reiterated a “buy” rating on shares of Nucor Corporation in a research note on Tuesday, July 18th. Finally, Longbow Research assumed coverage on shares of Nucor Corporation in a research note on Tuesday, May 9th. They set a “neutral” rating on the stock. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $68.88.
In other news, Chairman John J. Ferriola sold 14,941 shares of Nucor Corporation stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $60.17, for a total transaction of $898,999.97. Following the sale, the chairman now directly owns 361,847 shares of the company’s stock, valued at $21,772,333.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Sumoski sold 2,537 shares of Nucor Corporation stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $61.66, for a total value of $156,431.42. Following the sale, the insider now directly owns 62,434 shares in the company, valued at $3,849,680.44. The disclosure for this sale can be found here. Insiders have sold 20,104 shares of company stock worth $1,213,595 over the last three months. Insiders own 0.70% of the company’s stock.
Nucor Corporation 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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