4,093 Shares in Nucor Co. (NUE) Acquired by Smith Shellnut Wilson LLC ADV
Smith Shellnut Wilson LLC ADV purchased a new stake in Nucor Co. (NYSE:NUE) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,093 shares of the basic materials company’s stock, valued at approximately $229,000.
Several other hedge funds have also recently made changes to their positions in NUE. CI Investments Inc. acquired a new position in shares of Nucor in the 3rd quarter valued at $55,250,000. Northern Trust Corp grew its holdings in shares of Nucor by 15.0% in the 2nd quarter. Northern Trust Corp now owns 5,759,017 shares of the basic materials company’s stock valued at $333,275,000 after buying an additional 750,796 shares during the period. Balyasny Asset Management LLC grew its holdings in shares of Nucor by 55.4% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,471,244 shares of the basic materials company’s stock valued at $85,141,000 after buying an additional 524,476 shares during the period. Prudential PLC grew its holdings in shares of Nucor by 28.2% in the 2nd quarter. Prudential PLC now owns 2,260,300 shares of the basic materials company’s stock valued at $130,804,000 after buying an additional 496,700 shares during the period. Finally, Deprince Race & Zollo Inc. acquired a new position in shares of Nucor in the 2nd quarter valued at $26,614,000. 74.55% of the stock is owned by institutional investors.
Nucor Co. (NYSE:NUE) traded down $2.31 on Friday, reaching $59.54. 3,914,700 shares of the company traded hands, compared to its average volume of 2,716,312. The company has a market cap of $19,663.15, a PE ratio of 18.19, a P/E/G ratio of 1.40 and a beta of 1.58. Nucor Co. has a 1-year low of $51.67 and a 1-year high of $66.00. The company has a quick ratio of 1.12, a current ratio of 2.11 and a debt-to-equity ratio of 0.37.
Nucor (NYSE:NUE) last posted its quarterly earnings data on Thursday, October 19th. The basic materials company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.78 by $0.01. The business had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.19 billion. Nucor had a net margin of 5.80% and a return on equity of 12.78%. The firm’s revenue was up 20.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.88 EPS. equities research analysts predict that Nucor Co. will post 3.69 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, December 29th will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, December 28th. This is a boost from Nucor’s previous quarterly dividend of $0.38. This represents a $1.52 annualized dividend and a yield of 2.55%. Nucor’s payout ratio is 43.90%.
In other Nucor news, insider D. Chad Utermark sold 9,003 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $59.72, for a total transaction of $537,659.16. Following the sale, the insider now directly owns 73,883 shares of the company’s stock, valued at approximately $4,412,292.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Victoria F. Haynes sold 2,500 shares of the business’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $55.16, for a total transaction of $137,900.00. Following the sale, the director now directly owns 33,573 shares in the company, valued at $1,851,886.68. The disclosure for this sale can be found here. Insiders have sold a total of 44,217 shares of company stock worth $2,608,231 over the last three months. Insiders own 0.70% of the company’s stock.
Several brokerages have recently issued reports on NUE. Cowen boosted their price target on shares of Nucor from $57.00 to $63.00 and gave the company a “market perform” rating in a report on Monday, October 23rd. KeyCorp reissued a “hold” rating on shares of Nucor in a report on Thursday, October 19th. Citigroup set a $66.00 price target on shares of Nucor and gave the company a “buy” rating in a report on Friday, October 20th. Credit Suisse Group boosted their price objective on shares of Nucor from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, October 20th. Finally, Bank of America cut their price objective on shares of Nucor from $73.00 to $71.00 and set a “buy” rating on the stock in a research report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. Nucor has an average rating of “Buy” and an average target price of $66.80.
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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