Nomura Asset Management Co. Ltd. lifted its position in Nucor Co. (NYSE:NUE) by 6.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,226 shares of the basic materials company’s stock after buying an additional 3,519 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Nucor were worth $3,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently added to or reduced their stakes in the company. Caption Management LLC purchased a new position in shares of Nucor in the 4th quarter worth $4,197,000. BlueCrest Capital Management Ltd boosted its stake in shares of Nucor by 115.6% in the 4th quarter. BlueCrest Capital Management Ltd now owns 144,191 shares of the basic materials company’s stock worth $9,168,000 after buying an additional 77,307 shares during the last quarter. Profund Advisors LLC boosted its stake in shares of Nucor by 72.4% in the 4th quarter. Profund Advisors LLC now owns 32,691 shares of the basic materials company’s stock worth $2,078,000 after buying an additional 13,729 shares during the last quarter. Anchor Bolt Capital LP purchased a new position in Nucor during the fourth quarter valued at $17,533,000. Finally, Centenus Global Management LP purchased a new position in Nucor during the fourth quarter valued at $2,337,000. Hedge funds and other institutional investors own 80.16% of the company’s stock.
In other news, Chairman John J. Ferriola sold 14,313 shares of Nucor stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $64.12, for a total value of $917,749.56. Following the sale, the chairman now directly owns 333,775 shares of the company’s stock, valued at $21,401,653. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert J. Stratman sold 39,037 shares of Nucor stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $63.88, for a total value of $2,493,683.56. Following the completion of the sale, the executive vice president now directly owns 233,824 shares in the company, valued at $14,936,677.12. The disclosure for this sale can be found here. Insiders sold 95,387 shares of company stock worth $6,285,411 over the last ninety days. Insiders own 0.70% of the company’s stock.
Nucor (NYSE:NUE) last announced its quarterly earnings data on Tuesday, January 30th. The basic materials company reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.10. Nucor had a return on equity of 13.03% and a net margin of 6.58%. The business had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same period in the previous year, the business earned $0.50 earnings per share. The business’s revenue was up 28.7% on a year-over-year basis. sell-side analysts predict that Nucor Co. will post 4.92 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 11th. Stockholders of record on Thursday, March 29th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.52 annualized dividend and a dividend yield of 2.25%. Nucor’s dividend payout ratio (DPR) is 36.72%.
NUE has been the topic of several analyst reports. BMO Capital Markets set a $62.00 target price on Nucor and gave the company a “hold” rating in a research report on Friday, November 17th. ValuEngine upgraded Nucor from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Longbow Research upgraded Nucor from a “neutral” rating to a “buy” rating in a research report on Wednesday, December 20th. Zacks Investment Research downgraded Nucor from a “hold” rating to a “sell” rating in a research report on Tuesday, December 26th. Finally, Bank of America set a $75.00 target price on Nucor and gave the company a “buy” rating in a research report on Monday, January 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. Nucor currently has a consensus rating of “Buy” and a consensus price target of $69.70.
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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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