Eliot Finkel Investment Counsel LLC Purchases 5,260 Shares of Nucor Corporation (NUE)
Eliot Finkel Investment Counsel LLC lifted its position in shares of Nucor Corporation (NYSE:NUE) by 5.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 95,600 shares of the basic materials company’s stock after purchasing an additional 5,260 shares during the period. Nucor Corporation accounts for approximately 3.8% of Eliot Finkel Investment Counsel LLC’s investment portfolio, making the stock its 11th biggest holding. Eliot Finkel Investment Counsel LLC’s holdings in Nucor Corporation were worth $5,357,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Nucor Corporation 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 buying an additional 319,596 shares in the last quarter. Northern Trust Corp grew its position in Nucor Corporation by 15.0% during the second quarter. Northern Trust Corp now owns 5,759,017 shares of the basic materials company’s stock worth $333,275,000 after buying an additional 750,796 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Nucor Corporation by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 4,471,347 shares of the basic materials company’s stock worth $258,776,000 after buying an additional 352,694 shares in the last quarter. Prudential PLC grew its position in Nucor Corporation by 28.2% during the second quarter. Prudential PLC now owns 2,260,300 shares of the basic materials company’s stock worth $130,804,000 after buying an additional 496,700 shares in the last quarter. Finally, Boston Partners grew its position in Nucor Corporation by 3.7% during the third 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 in the last quarter. Institutional investors own 74.59% of the company’s stock.
In related news, Director Victoria F. Haynes sold 2,500 shares of the firm’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $55.16, for a total transaction of $137,900.00. Following the completion of the transaction, the director now directly owns 33,573 shares of the company’s stock, valued at approximately $1,851,886.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ladd R. Hall sold 17,583 shares of the firm’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $57.94, for a total value of $1,018,759.02. Following the transaction, the insider now directly owns 206,406 shares of the company’s stock, valued at $11,959,163.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,217 shares of company stock worth $2,608,231. 0.70% of the stock is currently owned by company insiders.
A number of equities research analysts recently issued reports on NUE shares. Cowen and Company reissued a “market perform” rating and set a $63.00 price target (up previously from $62.00) on shares of Nucor Corporation in a research report on Tuesday, July 25th. Longbow Research reissued a “buy” rating and set a $66.00 price target on shares of Nucor Corporation in a research report on Thursday, July 27th. BidaskClub downgraded Nucor Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Jefferies Group LLC set a $68.00 price target on Nucor Corporation and gave the stock a “buy” rating in a research report on Monday, August 21st. Finally, BMO Capital Markets set a $70.00 price target on Nucor Corporation and gave the stock a “hold” rating in a research report on Saturday, August 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $67.32.
Nucor Corporation (NYSE:NUE) traded down $0.15 during midday trading on Friday, hitting $54.79. The company had a trading volume of 1,650,500 shares, compared to its average volume of 2,696,685. 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 Corporation has a 12 month low of $51.67 and a 12 month high of $68.00. The firm has a market cap of $17,420.00, a P/E ratio of 16.16, a price-to-earnings-growth ratio of 1.24 and a beta of 1.59.
Nucor Corporation (NYSE:NUE) last released its quarterly earnings data on Thursday, October 19th. The basic materials company reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.01. Nucor Corporation had a return on equity of 12.78% and a net margin of 5.80%. The company had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter last year, the business posted $0.88 EPS. Nucor Corporation’s revenue for the quarter was up 20.5% on a year-over-year basis. equities research analysts anticipate that Nucor Corporation will post 3.7 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Investors of record on Friday, September 29th were issued a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend was Thursday, September 28th. Nucor Corporation’s dividend payout ratio (DPR) is 42.06%.
Nucor Corporation 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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