Xact Kapitalforvaltning AB lowered its position in shares of Nucor Corporation (NYSE:NUE) by 2.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,211 shares of the basic materials company’s stock after selling 524 shares during the period. Xact Kapitalforvaltning AB’s holdings in Nucor Corporation were worth $1,459,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dodge & Cox acquired a new position in Nucor Corporation during the fourth quarter worth about $4,309,000. Quadrature Capital Ltd acquired a new position in Nucor Corporation during the fourth quarter worth about $17,960,000. USA Financial Portformulas Corp acquired a new position in Nucor Corporation during the fourth quarter worth about $2,554,000. Kentucky Retirement Systems acquired a new position in Nucor Corporation during the fourth quarter worth about $1,376,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Nucor Corporation during the fourth quarter worth about $614,000. Institutional investors own 76.48% of the company’s stock.
Nucor Corporation (NYSE NUE) opened at 59.72 on Monday. The company has a 50 day moving average of $57.67 and a 200 day moving average of $60.07. Nucor Corporation has a 1-year low of $44.81 and a 1-year high of $68.00. The company has a market capitalization of $19.05 billion, a PE ratio of 17.99 and a beta of 1.52.
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Nucor Corporation (NYSE:NUE) last announced its quarterly earnings results on Thursday, April 20th. The basic materials company reported $1.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.14 by $0.03. Nucor Corporation had a return on equity of 12.63% and a net margin of 5.90%. The company had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter last year, the company posted $0.27 EPS. The company’s quarterly revenue was up 29.6% compared to the same quarter last year. On average, analysts predict that Nucor Corporation will post $4.23 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 11th. Shareholders of record on Friday, June 30th will be paid a $0.3775 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $1.51 dividend on an annualized basis and a yield of 2.53%. Nucor Corporation’s dividend payout ratio (DPR) is presently 47.48%.
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NUE has been the topic of a number of research reports. Deutsche Bank AG upped their target price on shares of Nucor Corporation from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, March 21st. J P Morgan Chase & Co increased their price target on shares of Nucor Corporation from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, March 22nd. Zacks Investment Research upgraded shares of Nucor Corporation from a “hold” rating to a “strong-buy” rating and set a $69.00 price target on the stock in a research report on Tuesday, March 28th. BMO Capital Markets reiterated a “hold” rating and issued a $68.00 price target on shares of Nucor Corporation in a research report on Monday, April 3rd. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $75.00 price target (down from $77.00) on shares of Nucor Corporation in a research report on Wednesday, April 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. Nucor Corporation currently has an average rating of “Buy” and an average target price of $68.72.
In other Nucor Corporation news, Chairman John J. Ferriola sold 12,232 shares of the company’s stock in a transaction on Tuesday, April 25th. The stock was sold at an average price of $61.60, for a total value of $753,491.20. Following the completion of the transaction, the chairman now owns 349,855 shares in the company, valued at approximately $21,551,068. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Victoria F. Haynes sold 3,000 shares of the company’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $61.52, for a total value of $184,560.00. Following the completion of the transaction, the director now owns 33,703 shares of the company’s stock, valued at approximately $2,073,408.56. The disclosure for this sale can be found here. 0.70% of the stock is owned by corporate insiders.
About Nucor Corporation
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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