Nucor Co. (NUE) Shares Bought by Hennessy Advisors Inc.
Hennessy Advisors Inc. boosted its position in shares of Nucor Co. (NYSE:NUE) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,600 shares of the basic materials company’s stock after buying an additional 700 shares during the period. Hennessy Advisors Inc.’s holdings in Nucor were worth $2,544,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund grew its stake in shares of Nucor by 5,010.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,498,507 shares of the basic materials company’s stock valued at $87,000 after purchasing an additional 4,410,481 shares during the last quarter. Norges Bank purchased a new stake in shares of Nucor in the fourth quarter valued at approximately $176,620,000. Millennium Management LLC boosted its stake in shares of Nucor by 269.4% in the fourth quarter. Millennium Management LLC now owns 2,073,142 shares of the basic materials company’s stock valued at $107,409,000 after buying an additional 1,511,854 shares in the last quarter. Vanguard Group Inc boosted its stake in shares of Nucor by 4.4% in the third quarter. Vanguard Group Inc now owns 28,321,567 shares of the basic materials company’s stock valued at $1,797,003,000 after buying an additional 1,186,099 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Nucor by 4.4% in the third quarter. Vanguard Group Inc. now owns 28,321,567 shares of the basic materials company’s stock valued at $1,797,003,000 after buying an additional 1,186,099 shares in the last quarter. 78.45% of the stock is currently owned by institutional investors.
NUE has been the topic of a number of analyst reports. Standpoint Research upgraded Nucor from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. ValuEngine upgraded Nucor from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Longbow Research downgraded Nucor from a “buy” rating to a “neutral” rating in a research note on Monday, March 11th. Cowen initiated coverage on Nucor in a research note on Tuesday, January 8th. They issued an “outperform” rating and a $62.00 price target on the stock. Finally, Credit Suisse Group upgraded Nucor from a “neutral” rating to an “outperform” rating in a research note on Tuesday, January 8th. Two analysts have rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $70.80.
Shares of NUE stock opened at $58.23 on Thursday. The firm has a market cap of $17.93 billion, a P/E ratio of 7.64, a PEG ratio of 0.83 and a beta of 1.50. Nucor Co. has a 1 year low of $49.79 and a 1 year high of $68.84. The company has a quick ratio of 1.45, a current ratio of 3.08 and a debt-to-equity ratio of 0.41.
Nucor (NYSE:NUE) last issued its quarterly earnings data on Tuesday, January 29th. The basic materials company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.14. The firm had revenue of $6.30 billion during the quarter, compared to analysts’ expectations of $6.29 billion. Nucor had a return on equity of 24.57% and a net margin of 9.42%. Nucor’s revenue was up 23.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 earnings per share. As a group, research analysts predict that Nucor Co. will post 5.94 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, March 29th will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, March 28th. This represents a $1.60 annualized dividend and a yield of 2.75%. Nucor’s dividend payout ratio is presently 21.00%.
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Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. It operates in three segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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