Boston Partners Sells 1,455,507 Shares of Nucor Corporation (NUE)
Boston Partners decreased its position in Nucor Corporation (NYSE:NUE) by 43.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,890,688 shares of the basic materials company’s stock after selling 1,455,507 shares during the period. Boston Partners’ holdings in Nucor Corporation were worth $109,414,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in NUE. SFE Investment Counsel purchased a new position in Nucor Corporation during the first quarter valued at approximately $411,000. Gateway Investment Advisers LLC raised its position in Nucor Corporation by 2.6% in the first quarter. Gateway Investment Advisers LLC now owns 49,066 shares of the basic materials company’s stock valued at $2,930,000 after buying an additional 1,234 shares in the last quarter. Capital Investment Advisors LLC raised its position in Nucor Corporation by 6.0% in the first quarter. Capital Investment Advisors LLC now owns 3,960 shares of the basic materials company’s stock valued at $237,000 after buying an additional 225 shares in the last quarter. Cohen Capital Management Inc. purchased a new position in Nucor Corporation during the first quarter valued at approximately $227,000. Finally, Farmers & Merchants Investments Inc. raised its position in Nucor Corporation by 21.7% in the first quarter. Farmers & Merchants Investments Inc. now owns 71,049 shares of the basic materials company’s stock valued at $4,243,000 after buying an additional 12,690 shares in the last quarter. 76.57% of the stock is currently owned by institutional investors and hedge funds.
Shares of Nucor Corporation (NYSE:NUE) opened at 55.37 on Friday. The firm has a market capitalization of $17.74 billion, a P/E ratio of 15.54 and a beta of 1.51. Nucor Corporation has a 52-week low of $44.81 and a 52-week high of $68.00. The company’s 50-day moving average is $58.42 and its 200 day moving average is $59.51.
Nucor Corporation (NYSE:NUE) last issued its quarterly earnings results on Thursday, July 20th. The basic materials company reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by $0.06. Nucor Corporation had a net margin of 6.08% and a return on equity of 13.39%. The business had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $5.08 billion. During the same quarter in the previous year, the business earned $0.73 earnings per share. The firm’s revenue was up 21.9% on a year-over-year basis. Analysts expect that Nucor Corporation will post $4.18 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Friday, June 30th were given a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date was Wednesday, June 28th. Nucor Corporation’s payout ratio is currently 43.77%.
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NUE has been the topic of several recent analyst reports. Jefferies Group LLC reissued a “buy” rating on shares of Nucor Corporation in a report on Friday, June 30th. BMO Capital Markets reissued a “hold” rating on shares of Nucor Corporation in a report on Friday, April 21st. ValuEngine lowered shares of Nucor Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 16th. Berenberg Bank reissued a “buy” rating and issued a $77.50 target price on shares of Nucor Corporation in a report on Wednesday, July 19th. Finally, Cowen and Company reissued a “market perform” rating and issued a $63.00 target price (up from $62.00) on shares of Nucor Corporation in a report on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Nucor Corporation has an average rating of “Buy” and a consensus price target of $68.76.
In other Nucor Corporation news, Chairman John J. Ferriola sold 14,941 shares of the stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $60.17, for a total transaction of $898,999.97. Following the transaction, the chairman now directly owns 361,847 shares in the company, valued at $21,772,333.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David A. Sumoski sold 2,537 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $61.66, for a total transaction of $156,431.42. Following the transaction, the insider now owns 62,434 shares in the company, valued at $3,849,680.44. The disclosure for this sale can be found here. Insiders have sold 20,104 shares of company stock worth $1,213,595 over the last quarter. Company insiders own 0.70% of the company’s stock.
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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