Nucor Co. (NUE) Position Reduced by Calamos Advisors LLC
Calamos Advisors LLC lessened its position in Nucor Co. (NYSE:NUE) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 153,825 shares of the basic materials company’s stock after selling 5,673 shares during the quarter. Calamos Advisors LLC’s holdings in Nucor were worth $9,780,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in NUE. First Trust Advisors LP raised its holdings in Nucor by 44.6% in the 3rd quarter. First Trust Advisors LP now owns 381,095 shares of the basic materials company’s stock worth $21,357,000 after acquiring an additional 117,488 shares during the period. Crossmark Global Holdings Inc. bought a new position in Nucor in the 3rd quarter worth $1,542,000. Victory Capital Management Inc. raised its holdings in Nucor by 41.1% in the 3rd quarter. Victory Capital Management Inc. now owns 101,138 shares of the basic materials company’s stock worth $5,668,000 after acquiring an additional 29,477 shares during the period. Canada Pension Plan Investment Board raised its holdings in Nucor by 3.6% in the 3rd quarter. Canada Pension Plan Investment Board now owns 891,169 shares of the basic materials company’s stock worth $49,941,000 after acquiring an additional 31,200 shares during the period. Finally, Deltec Asset Management LLC raised its holdings in Nucor by 184.8% in the 3rd quarter. Deltec Asset Management LLC now owns 28,481 shares of the basic materials company’s stock worth $1,596,000 after acquiring an additional 18,481 shares during the period. Hedge funds and other institutional investors own 75.59% of the company’s stock.
Several research firms have recently issued reports on NUE. Credit Suisse Group boosted their price objective on shares of Nucor from $67.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. BMO Capital Markets boosted their price objective on shares of Nucor to $72.00 and gave the stock a “market perform” rating in a report on Wednesday, January 31st. They noted that the move was a valuation call. Bank of America set a $75.00 price objective on shares of Nucor and gave the stock a “buy” rating in a report on Monday, January 8th. Morgan Stanley dropped their price objective on shares of Nucor from $70.00 to $68.00 and set a “hold” rating on the stock in a report on Tuesday, February 6th. Finally, ValuEngine upgraded shares of Nucor from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $69.70.
Shares of Nucor Co. (NYSE:NUE) opened at $67.88 on Friday. The company has a current ratio of 2.42, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36. Nucor Co. has a 12-month low of $51.67 and a 12-month high of $70.48. The firm has a market cap of $21,580.00, a PE ratio of 19.12, a PEG ratio of 1.11 and a beta of 1.51.
Nucor (NYSE:NUE) last issued its earnings results on Tuesday, January 30th. The basic materials company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.10. Nucor had a net margin of 6.58% and a return on equity of 13.03%. The business had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same period in the previous year, the business earned $0.50 EPS. The firm’s revenue was up 28.7% on a year-over-year basis. analysts anticipate that Nucor Co. will post 4.92 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 11th. Stockholders of record on Thursday, March 29th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.52 annualized dividend and a dividend yield of 2.24%. Nucor’s dividend payout ratio (DPR) is currently 42.82%.
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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