Nucor Co. (NUE) Shares Bought by Northeast Investment Management
Northeast Investment Management raised its holdings in Nucor Co. (NYSE:NUE) by 64.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,690 shares of the basic materials company’s stock after acquiring an additional 3,000 shares during the quarter. Northeast Investment Management’s holdings in Nucor were worth $431,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Cullen Frost Bankers Inc. acquired a new stake in Nucor during the 2nd quarter worth about $7,042,000. Tdam USA Inc. raised its holdings in Nucor by 27.9% during the 2nd quarter. Tdam USA Inc. now owns 5,784 shares of the basic materials company’s stock worth $336,000 after buying an additional 1,263 shares during the period. Cliftonlarsonallen Wealth Advisors LLC raised its holdings in Nucor by 6.0% during the 2nd quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 11,816 shares of the basic materials company’s stock worth $684,000 after buying an additional 674 shares during the period. HL Financial Services LLC acquired a new stake in Nucor during the 2nd quarter worth about $401,000. Finally, Pioneer Investment Management Inc. raised its holdings in Nucor by 437.2% during the 2nd quarter. Pioneer Investment Management Inc. now owns 1,813,506 shares of the basic materials company’s stock worth $104,947,000 after buying an additional 1,475,935 shares during the period. 74.55% of the stock is owned by institutional investors.
NUE has been the topic of a number of research reports. Jefferies Group set a $68.00 target price on Nucor and gave the company a “buy” rating in a report on Monday, August 21st. BMO Capital Markets set a $70.00 target price on Nucor and gave the company a “hold” rating in a report on Saturday, August 26th. ValuEngine downgraded Nucor from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Bank of America reiterated a “buy” rating and issued a $73.00 target price on shares of Nucor in a report on Wednesday, September 6th. Finally, Macquarie initiated coverage on Nucor in a report on Wednesday, September 6th. They issued a “neutral” rating and a $57.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $67.32.
Shares of Nucor Co. (NYSE NUE) traded down $1.22 during midday trading on Tuesday, hitting $57.60. The company had a trading volume of 761,125 shares, compared to its average volume of 2,678,714. The company has a market cap of $18,380.00, a PE ratio of 16.85, a price-to-earnings-growth ratio of 1.29 and a beta of 1.58. Nucor Co. has a 1-year low of $51.67 and a 1-year high of $68.00. The company has a current ratio of 2.11, a quick ratio of 1.12 and a debt-to-equity ratio of 0.37.
Nucor (NYSE:NUE) last announced its quarterly earnings results on Thursday, October 19th. The basic materials company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.01. The business had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Nucor had a return on equity of 12.78% and a net margin of 5.80%. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.88 EPS. analysts predict that Nucor Co. will post 3.69 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, December 29th will be paid a $0.38 dividend. This is a boost from Nucor’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.52 annualized dividend and a dividend yield of 2.64%. Nucor’s payout ratio is presently 42.06%.
In related news, Director Victoria F. Haynes sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $55.16, for a total value of $137,900.00. Following the completion of the sale, the director now owns 33,573 shares of the company’s stock, valued at approximately $1,851,886.68. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider D. Chad Utermark sold 9,003 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $59.72, for a total value of $537,659.16. Following the completion of the sale, the insider now directly owns 73,883 shares of the company’s stock, valued at approximately $4,412,292.76. The disclosure for this sale can be found here. In the last three months, insiders sold 44,217 shares of company stock valued at $2,608,231. 0.70% of the stock is currently owned by company insiders.
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).
Want to see what other hedge funds are holding NUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nucor Co. (NYSE:NUE).
Receive News & Ratings for Nucor Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor Co. and related companies with Analyst Ratings Network's FREE daily email newsletter.