Capital International Investors Continues to Hold Stake in Nucor Corporation (NUE)
Capital International Investors held its stake in shares of Nucor Corporation (NYSE:NUE) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,642,200 shares of the basic materials company’s stock at the end of the second quarter. Capital International Investors owned approximately 1.14% of Nucor Corporation worth $210,774,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Accredited Investors Inc. grew its stake in shares of Nucor Corporation by 0.6% in the first quarter. Accredited Investors Inc. now owns 3,892 shares of the basic materials company’s stock worth $232,000 after acquiring an additional 24 shares during the last quarter. FineMark National Bank & Trust raised its stake in Nucor Corporation by 0.3% during the 2nd quarter. FineMark National Bank & Trust now owns 9,699 shares of the basic materials company’s stock valued at $561,000 after purchasing an additional 26 shares during the last quarter. Cleararc Capital Inc. raised its stake in Nucor Corporation by 0.5% during the 1st quarter. Cleararc Capital Inc. now owns 7,795 shares of the basic materials company’s stock valued at $466,000 after purchasing an additional 35 shares during the last quarter. ING Groep NV raised its stake in Nucor Corporation by 0.3% during the 2nd quarter. ING Groep NV now owns 16,591 shares of the basic materials company’s stock valued at $960,000 after purchasing an additional 43 shares during the last quarter. Finally, First Command Bank raised its stake in Nucor Corporation by 1.5% during the 2nd quarter. First Command Bank now owns 2,905 shares of the basic materials company’s stock valued at $169,000 after purchasing an additional 44 shares during the last quarter. 74.86% of the stock is currently owned by institutional investors.
Several analysts have issued reports on the stock. BidaskClub upgraded shares of Nucor Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. ValuEngine cut shares of Nucor Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 16th. Longbow Research raised Nucor Corporation from a “neutral” rating to a “buy” rating in a research report on Monday, June 19th. KeyCorp restated an “overweight” rating and set a $66.00 price target (down from $72.00) on shares of Nucor Corporation in a research note on Monday, June 26th. Finally, Jefferies Group LLC restated a “buy” rating on shares of Nucor Corporation in a research note on Friday, June 30th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $67.12.
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In other Nucor Corporation news, insider Leon J. Topalian sold 2,626 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $60.23, for a total value of $158,163.98. Following the sale, the insider now owns 19,610 shares in the company, valued at $1,181,110.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Victoria F. Haynes sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $55.16, for a total transaction of $137,900.00. Following the completion of the sale, the director now owns 33,573 shares in the company, valued at approximately $1,851,886.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,604 shares of company stock valued at $1,351,495. 0.70% of the stock is owned by corporate insiders.
Nucor Corporation (NYSE:NUE) traded down 0.54% on Tuesday, reaching $55.75. The company’s stock had a trading volume of 439,999 shares. Nucor Corporation has a 12 month low of $45.30 and a 12 month high of $68.00. The firm’s 50 day moving average is $54.81 and its 200-day moving average is $57.86. The firm has a market cap of $17.81 billion, a P/E ratio of 15.65 and a beta of 1.54.
Nucor Corporation (NYSE:NUE) last posted its 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 return on equity of 13.39% and a net margin of 6.08%. The company had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.08 billion. During the same period last year, the company posted $0.73 EPS. The firm’s revenue was up 21.9% compared to the same quarter last year. On average, equities research analysts anticipate that Nucor Corporation will post $3.92 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Friday, September 29th will be given a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Thursday, September 28th. Nucor Corporation’s dividend payout ratio is 43.77%.
Nucor Corporation 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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