Nucor Corporation (NUE) Stake Lessened by Capital World Investors
Capital World Investors cut its stake in Nucor Corporation (NYSE:NUE) by 9.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,000,000 shares of the basic materials company’s stock after selling 600,000 shares during the period. Capital World Investors owned approximately 1.88% of Nucor Corporation worth $347,220,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of NUE. GLG Partners LP acquired a new position in shares of Nucor Corporation during the second quarter valued at approximately $385,000. Sun Life Financial INC lifted its position in Nucor Corporation by 23,290.0% in the second quarter. Sun Life Financial INC now owns 2,339 shares of the basic materials company’s stock worth $135,000 after purchasing an additional 2,329 shares during the period. UBS Oconnor LLC lifted its position in Nucor Corporation by 72.9% in the second quarter. UBS Oconnor LLC now owns 107,639 shares of the basic materials company’s stock worth $6,229,000 after purchasing an additional 45,396 shares during the period. HighTower Advisors LLC lifted its position in Nucor Corporation by 11.0% in the second quarter. HighTower Advisors LLC now owns 54,774 shares of the basic materials company’s stock worth $3,170,000 after purchasing an additional 5,425 shares during the period. Finally, People s United Financial Inc. lifted its position in Nucor Corporation by 12.9% in the second quarter. People s United Financial Inc. now owns 6,788 shares of the basic materials company’s stock worth $393,000 after purchasing an additional 778 shares during the period. Institutional investors and hedge funds own 74.86% of the company’s stock.
In other Nucor Corporation 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 transaction, the chairman now directly owns 361,847 shares in the company, valued at $21,772,333.99. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Victoria F. Haynes sold 2,500 shares of Nucor Corporation stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $55.16, for a total value of $137,900.00. Following the transaction, the director now owns 33,573 shares in the company, valued at $1,851,886.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,604 shares of company stock valued at $1,351,495. 0.70% of the stock is owned by corporate insiders.
Nucor Corporation (NYSE:NUE) traded up 0.6833% during trading on Wednesday, reaching $56.3424. 464,089 shares of the company’s stock traded hands. The company has a market cap of $18.00 billion, a P/E ratio of 15.8176 and a beta of 1.54. The firm’s 50 day moving average is $54.81 and its 200 day moving average is $57.80. Nucor Corporation has a 12 month low of $45.30 and a 12 month high of $68.00.
Nucor Corporation (NYSE:NUE) last announced its quarterly earnings results on Thursday, July 20th. The basic materials company reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.06). The firm had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $5.08 billion. Nucor Corporation had a return on equity of 13.39% and a net margin of 6.08%. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.73 earnings per share. Analysts anticipate that Nucor Corporation will post $3.91 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Friday, September 29th will be given a $0.3775 dividend. This represents a $1.51 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Thursday, September 28th. Nucor Corporation’s dividend payout ratio is currently 43.77%.
Several brokerages have recently issued reports on NUE. Cowen and Company reiterated a “market perform” rating and set a $63.00 price target (up from $62.00) on shares of Nucor Corporation in a research report on Tuesday, July 25th. Morgan Stanley restated a “buy” rating on shares of Nucor Corporation in a report on Tuesday, July 18th. Zacks Investment Research lowered Nucor Corporation from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 26th. BMO Capital Markets reaffirmed a “market perform” rating and set a $62.00 target price (down previously from $70.00) on shares of Nucor Corporation in a research note on Monday, September 18th. Finally, Jefferies Group LLC reaffirmed a “buy” rating on shares of Nucor Corporation in a research note on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $67.12.
Nucor Corporation 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).
Receive News & Stock Ratings for Nucor Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor Corporation and related stocks with our FREE daily email newsletter.