Nucor Corporation $NUE Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP has reduced its stake in Nucor Corporation by 2.4%, now owning approximately 3.45 million shares valued at $414.9 million.
• Nucor reported $2.60 earnings per share for the last quarter, slightly exceeding analyst expectations, with revenues of $8.46 billion.
• The company has recently declared a quarterly dividend of $0.55 per share, representing an annualized yield of 1.5% and a payout ratio of 39.71%.

Dimensional Fund Advisors LP lessened its holdings in shares of Nucor Corporation (NYSE:NUE - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,447,925 shares of the basic materials company's stock after selling 85,969 shares during the period. Dimensional Fund Advisors LP owned approximately 1.50% of Nucor worth $414,927,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Nucor during the 4th quarter valued at about $25,000. Putney Financial Group LLC acquired a new stake in Nucor in the 4th quarter worth about $29,000. MV Capital Management Inc. boosted its holdings in shares of Nucor by 73.5% during the 1st quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company's stock worth $34,000 after purchasing an additional 119 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new position in shares of Nucor during the 4th quarter worth approximately $41,000. Finally, Spirit of America Management Corp NY purchased a new stake in shares of Nucor during the 1st quarter valued at approximately $48,000. Hedge funds and other institutional investors own 76.48% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a research report on Friday, June 20th. JPMorgan Chase & Co. boosted their target price on Nucor from $143.00 to $162.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Wall Street Zen lowered Nucor from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. UBS Group cut their price objective on Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Finally, Wells Fargo & Company raised Nucor to a "hold" rating in a research report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $155.78.

Insider Buying and Selling at Nucor

In other news, EVP Allen C. Behr sold 8,021 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $143.38, for a total value of $1,150,050.98. Following the completion of the sale, the executive vice president directly owned 82,703 shares of the company's stock, valued at approximately $11,857,956.14. This represents a 8.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kenneth Rex Query sold 10,000 shares of the company's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $130.37, for a total transaction of $1,303,700.00. Following the completion of the sale, the executive vice president directly owned 94,080 shares of the company's stock, valued at $12,265,209.60. The trade was a 9.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,109 shares of company stock worth $3,360,094 over the last 90 days. Corporate insiders own 0.71% of the company's stock.

Nucor Stock Performance

NYSE NUE traded up $1.26 during trading hours on Tuesday, hitting $145.91. The company had a trading volume of 1,382,729 shares, compared to its average volume of 2,472,049. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 2.83. Nucor Corporation has a 1-year low of $97.59 and a 1-year high of $170.52. The company has a market cap of $33.49 billion, a PE ratio of 26.34, a price-to-earnings-growth ratio of 0.92 and a beta of 1.74. The business has a 50 day moving average of $136.64 and a 200-day moving average of $127.15.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The basic materials company reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.06. Nucor had a net margin of 4.21% and a return on equity of 6.65%. The company had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.47 billion. During the same quarter in the prior year, the firm posted $2.68 earnings per share. Nucor's revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities research analysts expect that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, June 30th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.5%. The ex-dividend date was Monday, June 30th. Nucor's dividend payout ratio is currently 39.71%.

Nucor Company Profile

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.