KAMES CAPITAL plc boosted its holdings in shares of Nucor Co. (NYSE:NUE) by 3.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 154,549 shares of the basic materials company’s stock after acquiring an additional 4,507 shares during the quarter. KAMES CAPITAL plc owned approximately 0.05% of Nucor worth $9,019,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Nucor by 4.4% during the third quarter. Vanguard Group Inc. now owns 28,321,567 shares of the basic materials company’s stock worth $1,797,003,000 after acquiring an additional 1,186,099 shares during the last quarter. Vanguard Group Inc lifted its holdings in Nucor by 4.4% during the third quarter. Vanguard Group Inc now owns 28,321,567 shares of the basic materials company’s stock worth $1,797,003,000 after acquiring an additional 1,186,099 shares during the period. BlackRock Inc. raised its stake in shares of Nucor by 3.4% in the fourth quarter. BlackRock Inc. now owns 23,134,435 shares of the basic materials company’s stock valued at $1,198,595,000 after buying an additional 764,927 shares during the period. Northern Trust Corp raised its stake in shares of Nucor by 3.7% during the 4th quarter. Northern Trust Corp now owns 5,465,392 shares of the basic materials company’s stock valued at $283,162,000 after purchasing an additional 192,722 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Nucor by 10.1% during the fourth quarter. Bank of New York Mellon Corp now owns 5,454,562 shares of the basic materials company’s stock worth $282,600,000 after buying an additional 500,036 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.
In other Nucor news, Chairman John J. Ferriola sold 87,719 shares of the company’s stock in a transaction on Thursday, January 31st. The shares were sold at an average price of $60.35, for a total value of $5,293,841.65. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.96% of the stock is currently owned by corporate insiders.
Nucor (NYSE:NUE) last issued its quarterly earnings data on Tuesday, January 29th. The basic materials company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.14. The company had revenue of $6.30 billion during the quarter, compared to the consensus estimate of $6.29 billion. Nucor had a net margin of 9.42% and a return on equity of 24.57%. Nucor’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.65 earnings per share. On average, sell-side analysts expect that Nucor Co. will post 5.9 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, March 29th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.74%. The ex-dividend date is Thursday, March 28th. Nucor’s payout ratio is 21.00%.
Several equities analysts recently commented on NUE shares. Standpoint Research upgraded Nucor from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. ValuEngine raised Nucor from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Longbow Research lowered Nucor from a “buy” rating to a “neutral” rating in a research report on Monday, March 11th. Cowen assumed coverage on Nucor in a research report on Tuesday, January 8th. They set an “outperform” rating and a $62.00 target price for the company. Finally, Credit Suisse Group upgraded Nucor from a “neutral” rating to an “outperform” rating in a research report on Tuesday, January 8th. Two analysts have rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $70.80.
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Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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