Sprott Inc. increased its holdings in shares of Nucor Corporation (NYSE:NUE - Free Report) by 2.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 198,665 shares of the basic materials company's stock after acquiring an additional 4,316 shares during the quarter. Nucor comprises 1.3% of Sprott Inc.'s portfolio, making the stock its 23rd biggest holding. Sprott Inc. owned 0.09% of Nucor worth $23,907,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Nucor by 17.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,595 shares of the basic materials company's stock worth $3,853,000 after acquiring an additional 4,763 shares during the last quarter. Voya Investment Management LLC increased its holdings in shares of Nucor by 528.6% during the 4th quarter. Voya Investment Management LLC now owns 507,715 shares of the basic materials company's stock worth $59,235,000 after acquiring an additional 426,949 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Nucor by 21.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 101,459 shares of the basic materials company's stock valued at $12,210,000 after buying an additional 17,861 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Nucor by 20.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 28,886 shares of the basic materials company's stock valued at $3,476,000 after buying an additional 4,914 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Nucor by 12.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 305,006 shares of the basic materials company's stock valued at $36,704,000 after buying an additional 33,700 shares in the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Nucor
In other news, EVP Allen C. Behr sold 8,021 shares of the firm's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $143.38, for a total transaction of $1,150,050.98. Following the completion of the transaction, the executive vice president directly owned 82,703 shares in the company, valued at $11,857,956.14. This trade represents a 8.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kenneth Rex Query sold 10,000 shares of the firm's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $130.37, for a total value of $1,303,700.00. Following the transaction, the executive vice president owned 94,080 shares of the company's stock, valued at $12,265,209.60. This trade represents a 9.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,397 shares of company stock valued at $6,763,814 over the last three months. Company insiders own 0.71% of the company's stock.
Nucor Price Performance
Shares of NUE stock traded up $2.03 on Wednesday, hitting $149.98. 378,163 shares of the company's stock were exchanged, compared to its average volume of 2,420,901. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.83 and a quick ratio of 1.51. Nucor Corporation has a 12 month low of $97.59 and a 12 month high of $170.52. The stock has a market cap of $34.42 billion, a P/E ratio of 27.07, a price-to-earnings-growth ratio of 0.95 and a beta of 1.74. The company has a 50 day moving average of $139.25 and a 200 day moving average of $127.65.
Nucor (NYSE:NUE - Get Free Report) last posted its earnings results on Monday, July 28th. The basic materials company reported $2.60 EPS for the quarter, beating the consensus estimate of $2.54 by $0.06. The firm had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.47 billion. Nucor had a return on equity of 6.65% and a net margin of 4.21%.The business's quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the company earned $2.68 earnings per share. On average, equities research analysts predict that Nucor Corporation will post 7.64 EPS for the current year.
Nucor Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, June 30th were given a $0.55 dividend. The ex-dividend date was Monday, June 30th. This represents a $2.20 annualized dividend and a yield of 1.5%. Nucor's dividend payout ratio (DPR) is currently 39.71%.
Analyst Upgrades and Downgrades
NUE has been the topic of a number of research reports. Wall Street Zen lowered Nucor from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. Morgan Stanley upped their price objective on Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a report on Friday, June 20th. UBS Group decreased their price objective on Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. JPMorgan Chase & Co. upped their price objective on Nucor from $143.00 to $162.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Finally, Jefferies Financial Group raised Nucor from a "hold" rating to a "buy" rating and upped their price objective for the company from $135.00 to $170.00 in a report on Thursday, July 31st. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Nucor has an average rating of "Moderate Buy" and an average target price of $155.78.
Read Our Latest Report on NUE
Nucor Company Profile
(
Free Report)
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.
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