4,200 Shares in Nucor Co. (NUE) Purchased by Harel Insurance Investments & Financial Services Ltd.
Harel Insurance Investments & Financial Services Ltd. bought a new stake in Nucor Co. (NYSE:NUE) during the fourth quarter, HoldingsChannel.com reports. The fund bought 4,200 shares of the basic materials company’s stock, valued at approximately $267,000.
Other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in Nucor by 3.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,621,566 shares of the basic materials company’s stock worth $258,974,000 after buying an additional 150,219 shares during the period. Boston Partners increased its stake in Nucor by 3.7% during the 3rd quarter. Boston Partners now owns 1,961,046 shares of the basic materials company’s stock worth $109,897,000 after buying an additional 70,358 shares during the period. Amundi Pioneer Asset Management Inc. increased its stake in Nucor by 3.4% during the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 1,874,421 shares of the basic materials company’s stock worth $105,043,000 after buying an additional 60,915 shares during the period. Legal & General Group Plc increased its stake in Nucor by 2.8% during the 3rd quarter. Legal & General Group Plc now owns 1,729,371 shares of the basic materials company’s stock worth $96,908,000 after buying an additional 46,786 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in Nucor by 5.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,229,908 shares of the basic materials company’s stock worth $78,198,000 after buying an additional 61,563 shares during the period. 74.46% of the stock is currently owned by institutional investors and hedge funds.
NUE has been the topic of several analyst reports. Longbow Research raised shares of Nucor from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 20th. ValuEngine raised shares of Nucor from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Bank of America dropped their price target on shares of Nucor from $73.00 to $71.00 and set a “buy” rating on the stock in a research note on Friday, October 20th. Citigroup set a $66.00 price target on shares of Nucor and gave the stock a “buy” rating in a research note on Friday, October 20th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $77.00 price target on shares of Nucor in a research note on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $69.37.
Nucor (NYSE:NUE) last announced its quarterly earnings data on Tuesday, January 30th. The basic materials company reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.10. The company had revenue of $5.09 billion during the quarter, compared to analyst estimates of $4.86 billion. Nucor had a net margin of 6.58% and a return on equity of 13.03%. The firm’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same period last year, the business earned $0.50 EPS. sell-side analysts predict that Nucor Co. will post 5.02 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.38 per share. This is a positive change from Nucor’s previous quarterly dividend of $0.38. This represents a $1.52 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Thursday, December 28th. Nucor’s dividend payout ratio (DPR) is currently 36.72%.
In other Nucor news, EVP Robert J. Stratman sold 39,037 shares of the firm’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $63.88, for a total transaction of $2,493,683.56. Following the completion of the transaction, the executive vice president now directly owns 233,824 shares of the company’s stock, valued at approximately $14,936,677.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.70% of the stock is owned by company insiders.
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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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