Cozad Asset Management Inc. raised its position in shares of Nucor Co. (NYSE:NUE) by 76.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 76,050 shares of the basic materials company’s stock after acquiring an additional 32,883 shares during the quarter. Nucor comprises 1.2% of Cozad Asset Management Inc.’s investment portfolio, making the stock its 21st biggest holding. Cozad Asset Management Inc.’s holdings in Nucor were worth $4,190,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of NUE. Geode Capital Management LLC boosted its position in Nucor by 11.3% during the fourth quarter. Geode Capital Management LLC now owns 4,998,590 shares of the basic materials company’s stock valued at $258,607,000 after acquiring an additional 506,988 shares during the last quarter. Janus Henderson Group PLC boosted its position in Nucor by 92.9% during the first quarter. Janus Henderson Group PLC now owns 310,558 shares of the basic materials company’s stock valued at $18,125,000 after acquiring an additional 149,548 shares during the last quarter. Gamco Investors INC. ET AL bought a new stake in Nucor during the first quarter valued at $928,000. First Allied Advisory Services Inc. boosted its position in Nucor by 1.4% during the first quarter. First Allied Advisory Services Inc. now owns 23,786 shares of the basic materials company’s stock valued at $1,394,000 after acquiring an additional 322 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of Nucor by 4.2% during the first quarter. Cetera Investment Advisers now owns 6,604 shares of the basic materials company’s stock valued at $385,000 after purchasing an additional 268 shares during the period. 77.35% of the stock is currently owned by institutional investors and hedge funds.
Shares of NUE traded up $0.10 on Thursday, reaching $53.36. The company’s stock had a trading volume of 25,604 shares, compared to its average volume of 2,344,465. The company has a current ratio of 3.56, a quick ratio of 1.76 and a debt-to-equity ratio of 0.40. Nucor Co. has a twelve month low of $46.10 and a twelve month high of $66.03. The stock has a market capitalization of $15.53 billion, a PE ratio of 7.01, a PEG ratio of 0.89 and a beta of 1.62. The firm has a fifty day moving average of $50.80 and a 200-day moving average of $54.65.
Nucor (NYSE:NUE) last posted its earnings results on Thursday, July 18th. The basic materials company reported $1.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.01. Nucor had a net margin of 8.84% and a return on equity of 21.65%. The company had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6 billion. During the same quarter in the prior year, the business posted $2.07 EPS. The firm’s revenue was down 8.7% compared to the same quarter last year. As a group, equities analysts anticipate that Nucor Co. will post 4.82 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be issued a $0.40 dividend. The ex-dividend date is Thursday, September 26th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.00%. Nucor’s dividend payout ratio is presently 21.00%.
In related news, EVP Leon J. Topalian sold 5,798 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $56.47, for a total value of $327,413.06. Following the sale, the executive vice president now owns 93,559 shares in the company, valued at approximately $5,283,276.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ladd R. Hall sold 28,998 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $56.90, for a total transaction of $1,649,986.20. Following the completion of the sale, the insider now owns 292,776 shares in the company, valued at approximately $16,658,954.40. The disclosure for this sale can be found here. Insiders sold a total of 61,203 shares of company stock worth $3,465,601 in the last 90 days. 0.96% of the stock is currently owned by company insiders.
Several brokerages have recently weighed in on NUE. Goldman Sachs Group dropped their price objective on shares of Nucor from $70.00 to $59.00 and set a “buy” rating on the stock in a report on Tuesday, June 4th. Deutsche Bank lowered shares of Nucor from a “buy” rating to a “hold” rating in a report on Thursday, May 30th. KeyCorp dropped their price objective on shares of Nucor from $61.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, August 27th. Bank of America dropped their price objective on shares of Nucor from $50.00 to $46.00 and set an “underperform” rating on the stock in a report on Wednesday, September 4th. Finally, Credit Suisse Group set a $61.00 price objective on shares of Nucor and gave the company a “buy” rating in a report on Friday, July 19th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $62.40.
Nucor Company Profile
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.
Featured Story: Earnings Reports
Want to see what other hedge funds are holding NUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nucor Co. (NYSE:NUE).
Receive News & Ratings for Nucor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor and related companies with MarketBeat.com's FREE daily email newsletter.