Tibra Equities Europe Ltd grew its position in shares of Nucor Co. (NYSE:NUE) by 195.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 32,800 shares of the basic materials company’s stock after acquiring an additional 21,700 shares during the period. Tibra Equities Europe Ltd’s holdings in Nucor were worth $1,670,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of NUE. Vanguard Group Inc. lifted its position in Nucor by 19.6% in the 2nd quarter. Vanguard Group Inc. now owns 33,816,254 shares of the basic materials company’s stock valued at $1,863,276,000 after acquiring an additional 5,547,683 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Nucor by 363.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,139,227 shares of the basic materials company’s stock valued at $117,872,000 after buying an additional 1,677,330 shares during the period. Prudential PLC lifted its holdings in shares of Nucor by 3.8% during the 2nd quarter. Prudential PLC now owns 1,967,900 shares of the basic materials company’s stock valued at $108,431,000 after buying an additional 72,000 shares during the period. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Nucor by 1.7% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 1,688,752 shares of the basic materials company’s stock valued at $93,049,000 after buying an additional 28,994 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Nucor by 31.9% during the 2nd quarter. Invesco Ltd. now owns 1,623,635 shares of the basic materials company’s stock valued at $89,462,000 after buying an additional 392,215 shares during the period. Hedge funds and other institutional investors own 77.52% of the company’s stock.
Shares of NYSE:NUE traded down $0.29 during midday trading on Friday, hitting $55.23. The company had a trading volume of 64,359 shares, compared to its average volume of 2,199,235. Nucor Co. has a 12-month low of $46.10 and a 12-month high of $64.48. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.36 and a quick ratio of 1.78. The company has a market cap of $16.82 billion, a price-to-earnings ratio of 7.25, a PEG ratio of 1.05 and a beta of 1.65. The company has a fifty day moving average of $52.28 and a two-hundred day moving average of $52.79.
Nucor (NYSE:NUE) last issued its quarterly earnings results on Tuesday, October 22nd. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.10. Nucor had a return on equity of 16.90% and a net margin of 7.62%. The business had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the prior year, the business posted $2.33 EPS. Nucor’s revenue for the quarter was down 19.0% compared to the same quarter last year. Research analysts expect that Nucor Co. will post 4.39 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.90%. Nucor’s payout ratio is 21.00%.
In related news, EVP Raymond S. Napolitan, Jr. sold 8,000 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $52.67, for a total value of $421,360.00. Following the completion of the transaction, the executive vice president now owns 142,393 shares of the company’s stock, valued at approximately $7,499,839.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John J. Ferriola sold 3,203 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $54.00, for a total transaction of $172,962.00. Following the completion of the transaction, the chief executive officer now directly owns 453,954 shares of the company’s stock, valued at approximately $24,513,516. The disclosure for this sale can be found here. Company insiders own 0.96% of the company’s stock.
Several equities analysts have recently weighed in on NUE shares. Bank of America lowered their price target on Nucor from $50.00 to $46.00 and set an “underperform” rating on the stock in a report on Wednesday, September 4th. ValuEngine upgraded Nucor from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Credit Suisse Group set a $61.00 price objective on Nucor and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, KeyCorp reduced their price objective on Nucor from $61.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday, August 27th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. Nucor presently has an average rating of “Hold” and a consensus price target of $58.14.
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.
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