Capital International Inc. CA Has $170,000 Position in Nucor Co. (NUE)
Capital International Inc. CA reduced its position in shares of Nucor Co. (NYSE:NUE) by 73.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,040 shares of the basic materials company’s stock after selling 8,300 shares during the period. Capital International Inc. CA’s holdings in Nucor were worth $170,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Nucor by 1.3% during the second quarter. Vanguard Group Inc. now owns 25,573,754 shares of the basic materials company’s stock worth $1,479,954,000 after purchasing an additional 319,596 shares in the last quarter. Northern Trust Corp increased its holdings in Nucor by 15.0% in the second 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 in the last quarter. Dimensional Fund Advisors LP increased its holdings in Nucor by 3.4% in the third quarter. Dimensional Fund Advisors LP now owns 4,621,566 shares of the basic materials company’s stock valued at $258,974,000 after buying an additional 150,219 shares in the last quarter. Prudential PLC increased its holdings in Nucor by 28.2% in the second 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 in the last quarter. Finally, Boston Partners increased its holdings in Nucor by 3.7% in the third quarter. Boston Partners now owns 1,961,046 shares of the basic materials company’s stock valued at $109,897,000 after buying an additional 70,358 shares in the last quarter. 74.55% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on the stock. BMO Capital Markets reaffirmed a “market perform” rating and issued a $62.00 target price (down from $70.00) on shares of Nucor in a report on Monday, September 18th. KeyCorp reaffirmed a “hold” rating on shares of Nucor in a report on Thursday, October 19th. Bank of America reaffirmed a “buy” rating and issued a $73.00 target price on shares of Nucor in a report on Wednesday, September 6th. Morgan Stanley cut shares of Nucor from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $78.00 to $60.00 in a research note on Tuesday, September 12th. Finally, Jefferies Group reissued a “buy” rating on shares of Nucor in a research note on Saturday, September 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. Nucor presently has a consensus rating of “Buy” and a consensus price target of $67.32.
In other Nucor news, Director Victoria F. Haynes sold 2,500 shares of Nucor stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $55.16, for a total value of $137,900.00. Following the transaction, the director now owns 33,573 shares in the company, valued at approximately $1,851,886.68. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ladd R. Hall sold 17,583 shares of Nucor stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $57.94, for a total transaction of $1,018,759.02. Following the completion of the transaction, the insider now owns 206,406 shares in the company, valued at approximately $11,959,163.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,217 shares of company stock worth $2,608,231. 0.70% of the stock is owned by company insiders.
Shares of Nucor Co. (NUE) opened at $60.17 on Friday. Nucor Co. has a 1 year low of $51.67 and a 1 year high of $66.37. The stock has a market cap of $18,626.74, a P/E ratio of 17.23, a P/E/G ratio of 1.32 and a beta of 1.58. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 2.11.
Nucor (NYSE:NUE) last announced its earnings results on Thursday, October 19th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.01. Nucor had a net margin of 5.80% and a return on equity of 12.78%. The firm had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the business earned $0.88 earnings per share. Nucor’s revenue was up 20.5% compared to the same quarter last year. analysts forecast that Nucor Co. will post 3.69 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Investors 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 represents a $1.52 dividend on an annualized basis and a yield of 2.53%. This is a positive change from Nucor’s previous quarterly dividend of $0.38. Nucor’s dividend payout ratio (DPR) is 43.90%.
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Nucor Company Profile
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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