Nucor Co. (NUE) Shares Sold by WINTON GROUP Ltd
WINTON GROUP Ltd lessened its position in shares of Nucor Co. (NYSE:NUE) by 75.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,463 shares of the basic materials company’s stock after selling 35,970 shares during the quarter. WINTON GROUP Ltd’s holdings in Nucor were worth $642,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Accredited Investors Inc. grew its stake in Nucor by 0.6% in the second quarter. Accredited Investors Inc. now owns 3,917 shares of the basic materials company’s stock valued at $227,000 after acquiring an additional 25 shares during the period. Boys Arnold & Co. Inc. raised its holdings in Nucor by 0.3% during the second quarter. Boys Arnold & Co. Inc. now owns 16,679 shares of the basic materials company’s stock worth $965,000 after acquiring an additional 50 shares in the last quarter. Chartwell Investment Partners LLC raised its stake in Nucor by 0.5% in the second quarter. Chartwell Investment Partners LLC now owns 12,180 shares of the basic materials company’s stock valued at $705,000 after buying an additional 55 shares during the period. Sigma Planning Corp raised its stake in Nucor by 1.4% in the second quarter. Sigma Planning Corp now owns 4,647 shares of the basic materials company’s stock valued at $269,000 after buying an additional 62 shares during the period. Finally, Security National Bank of Sioux City Iowa IA raised its stake in Nucor by 0.4% in the second quarter. Security National Bank of Sioux City Iowa IA now owns 21,597 shares of the basic materials company’s stock valued at $1,249,000 after buying an additional 77 shares during the period. 74.55% of the stock is currently owned by institutional investors.
A number of equities research analysts recently issued reports on NUE shares. Macquarie started coverage on Nucor in a research report on Wednesday, September 6th. They set a “neutral” rating and a $57.00 price target on the stock. ValuEngine downgraded Nucor from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Jefferies Group set a $68.00 price target on Nucor and gave the stock a “buy” rating in a research report on Monday, August 21st. Credit Suisse Group raised their target price on Nucor from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, October 20th. Finally, Cowen raised their target price on Nucor from $57.00 to $63.00 and gave the company a “market perform” rating in a report on Monday, October 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $67.32.
Nucor (NYSE:NUE) last announced its quarterly earnings results on Thursday, October 19th. The basic materials company reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.01. Nucor had a return on equity of 12.78% and a net margin of 5.80%. The company had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same period in the prior year, the company earned $0.88 EPS. Nucor’s revenue was up 20.5% compared to the same quarter last year. research analysts anticipate that Nucor Co. will post 3.69 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, December 29th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.62%. This is a boost from Nucor’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, December 28th. Nucor’s dividend payout ratio is presently 43.90%.
In related news, insider Ladd R. Hall sold 17,583 shares of the firm’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $57.94, for a total transaction of $1,018,759.02. Following the completion of the transaction, the insider now directly owns 206,406 shares of the company’s stock, valued at approximately $11,959,163.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Victoria F. Haynes sold 2,500 shares of the firm’s stock in a transaction on 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 directly owns 33,573 shares of the company’s stock, valued at $1,851,886.68. The disclosure for this sale can be found here. Insiders sold a total of 44,217 shares of company stock valued at $2,608,231 over the last quarter. 0.70% of the stock is owned by corporate insiders.
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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