Nomura Holdings Inc. Sells 14,620 Shares of Nucor Corp. (NUE)
Nomura Holdings Inc. reduced its stake in Nucor Corp. (NYSE:NUE) by 18.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,430 shares of the company’s stock after selling 14,620 shares during the period. Nomura Holdings Inc.’s holdings in Nucor Corp. were worth $3,121,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Nucor Corp. by 2.6% in the second quarter. Vanguard Group Inc. now owns 20,341,406 shares of the company’s stock valued at $1,005,070,000 after buying an additional 507,208 shares in the last quarter. State Street Corp raised its position in Nucor Corp. by 0.7% in the first quarter. State Street Corp now owns 19,261,888 shares of the company’s stock valued at $911,088,000 after buying an additional 136,095 shares in the last quarter. BlackRock Fund Advisors raised its position in Nucor Corp. by 7.8% in the second quarter. BlackRock Fund Advisors now owns 5,430,759 shares of the company’s stock valued at $268,334,000 after buying an additional 390,724 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Nucor Corp. by 7.9% in the second quarter. Dimensional Fund Advisors LP now owns 4,064,357 shares of the company’s stock valued at $200,778,000 after buying an additional 297,602 shares in the last quarter. Finally, BlackRock Group LTD raised its position in Nucor Corp. by 0.7% in the first quarter. BlackRock Group LTD now owns 2,849,775 shares of the company’s stock valued at $134,795,000 after buying an additional 20,855 shares in the last quarter. Institutional investors and hedge funds own 77.92% of the company’s stock.
Shares of Nucor Corp. (NYSE:NUE) opened at 46.17 on Wednesday. Nucor Corp. has a one year low of $33.90 and a one year high of $57.08. The stock’s 50 day moving average price is $49.68 and its 200-day moving average price is $49.37. The company has a market cap of $14.70 billion, a PE ratio of 31.64 and a beta of 1.48.
Nucor Corp. (NYSE:NUE) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.03. The company had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.49 billion. Nucor Corp. had a net margin of 3.00% and a return on equity of 8.58%. On average, analysts expect that Nucor Corp. will post $2.71 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, September 30th will be given a dividend of $0.375 per share. The ex-dividend date is Wednesday, September 28th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.25%. Nucor Corp.’s dividend payout ratio (DPR) is presently 102.04%.
NUE has been the topic of several recent analyst reports. Citigroup Inc. initiated coverage on Nucor Corp. in a report on Monday, August 22nd. They set a “neutral” rating and a $55.00 target price on the stock. Bank of America Corp. lowered Nucor Corp. from a “buy” rating to a “neutral” rating and set a $56.00 target price on the stock. in a report on Wednesday, July 20th. Zacks Investment Research upgraded Nucor Corp. from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Monday, June 27th. Argus upgraded Nucor Corp. from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Friday, June 24th. Finally, BMO Capital Markets set a $51.00 target price on Nucor Corp. and gave the stock a “hold” rating in a report on Wednesday, September 14th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Nucor Corp. has a consensus rating of “Buy” and an average target price of $53.14.
In other Nucor Corp. news, Chairman John J. Ferriola sold 12,128 shares of the stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $54.12, for a total value of $656,367.36. Following the completion of the sale, the chairman now owns 354,420 shares in the company, valued at approximately $19,181,210.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider James R. Darsey sold 71,465 shares of the stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $52.45, for a total transaction of $3,748,339.25. Following the completion of the sale, the insider now owns 234,135 shares of the company’s stock, valued at approximately $12,280,380.75. The disclosure for this sale can be found here. Insiders own 0.63% of the company’s stock.
Nucor Corp. Company Profile
Nucor Corporation (Nucor) manufactures steel and steel products. The Company also produces direct reduced iron (DRI) for use in the Company’s steel mills. It also processes ferrous and nonferrous metals and brokers ferrous and nonferrous metals, pig iron, hot briquetted iron (HBI) and DRI. Nucor operates in three segments: steel mills, steel products and raw materials.
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