Nucor Co. (NUE) Shares Bought by PVG Asset Management Corp
PVG Asset Management Corp lifted its stake in shares of Nucor Co. (NYSE:NUE) by 11.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 92,561 shares of the basic materials company’s stock after buying an additional 9,210 shares during the period. Nucor comprises approximately 2.3% of PVG Asset Management Corp’s investment portfolio, making the stock its 12th biggest position. PVG Asset Management Corp’s holdings in Nucor were worth $5,187,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in NUE. Mckinley Capital Management LLC Delaware acquired a new position in shares of Nucor during the second quarter worth $100,000. Krilogy Financial LLC increased its holdings in shares of Nucor by 4,594.6% during the second quarter. Krilogy Financial LLC now owns 1,737 shares of the basic materials company’s stock worth $101,000 after buying an additional 1,700 shares in the last quarter. Fiduciary Trust Co. acquired a new position in shares of Nucor during the second quarter worth $109,000. Sun Life Financial INC increased its holdings in shares of Nucor by 23,290.0% during the second quarter. Sun Life Financial INC now owns 2,339 shares of the basic materials company’s stock worth $135,000 after buying an additional 2,329 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of Nucor by 791.0% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,673 shares of the basic materials company’s stock worth $150,000 after buying an additional 2,373 shares in the last quarter. Institutional investors own 74.55% of the company’s stock.
Shares of Nucor Co. (NYSE:NUE) traded up $1.10 on Tuesday, reaching $61.27. 5,465,300 shares of the company’s stock were exchanged, compared to its average volume of 2,701,814. The company has a quick ratio of 1.12, a current ratio of 2.11 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $19,119.51, a PE ratio of 17.69, a P/E/G ratio of 1.36 and a beta of 1.58. Nucor Co. has a twelve month low of $51.67 and a twelve month high of $66.00.
Nucor (NYSE:NUE) last issued its quarterly earnings results on Thursday, October 19th. The basic materials company reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.01. The business had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.19 billion. Nucor had a net margin of 5.80% and a return on equity of 12.78%. The business’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 earnings per share. research analysts forecast 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. Shareholders of record on Friday, December 29th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.52 dividend on an annualized basis and a yield of 2.48%. This is a boost from Nucor’s previous quarterly dividend of $0.38. Nucor’s dividend payout ratio is 43.90%.
Several brokerages have recently issued reports on NUE. BMO Capital Markets reiterated a “market perform” rating and set a $62.00 price target (down from $70.00) on shares of Nucor in a report on Monday, September 18th. KeyCorp restated a “hold” rating on shares of Nucor in a report on Thursday, October 19th. Bank of America restated a “buy” rating and issued a $73.00 price objective on shares of Nucor in a report on Wednesday, September 6th. Morgan Stanley downgraded Nucor from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $78.00 to $60.00 in a report on Tuesday, September 12th. Finally, Jefferies Group restated a “buy” rating on shares of Nucor in a report on Saturday, September 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. Nucor currently has a consensus rating of “Buy” and an average target price of $67.32.
In other Nucor news, Chairman John J. Ferriola sold 15,131 shares of the company’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $60.40, for a total transaction of $913,912.40. Following the sale, the chairman now owns 349,506 shares of the company’s stock, valued at $21,110,162.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider D. Chad Utermark sold 9,003 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $59.72, for a total transaction of $537,659.16. Following the sale, the insider now directly owns 73,883 shares in the company, valued at approximately $4,412,292.76. The disclosure for this sale can be found here. Insiders have sold 44,217 shares of company stock worth $2,608,231 in the last ninety days. Insiders own 0.70% of the company’s stock.
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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