Rothschild Asset Management Inc. Increases Holdings in Nucor Co. (NUE)
Rothschild Asset Management Inc. raised its position in Nucor Co. (NYSE:NUE) by 1.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 298,892 shares of the basic materials company’s stock after acquiring an additional 3,059 shares during the period. Rothschild Asset Management Inc. owned approximately 0.09% of Nucor worth $18,681,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. BNP Paribas Arbitrage SA grew its stake in Nucor by 35.1% in the first quarter. BNP Paribas Arbitrage SA now owns 220,184 shares of the basic materials company’s stock valued at $13,451,000 after acquiring an additional 57,158 shares during the period. Janney Montgomery Scott LLC grew its stake in Nucor by 1.0% in the second quarter. Janney Montgomery Scott LLC now owns 114,293 shares of the basic materials company’s stock valued at $7,143,000 after acquiring an additional 1,185 shares during the period. IMS Capital Management grew its stake in Nucor by 326.0% in the second quarter. IMS Capital Management now owns 13,582 shares of the basic materials company’s stock valued at $849,000 after acquiring an additional 10,394 shares during the period. Retirement Systems of Alabama grew its stake in Nucor by 40.3% in the second quarter. Retirement Systems of Alabama now owns 307,539 shares of the basic materials company’s stock valued at $19,221,000 after acquiring an additional 88,372 shares during the period. Finally, Amalgamated Bank grew its stake in Nucor by 3.1% in the second quarter. Amalgamated Bank now owns 40,927 shares of the basic materials company’s stock valued at $2,558,000 after acquiring an additional 1,239 shares during the period. 77.86% of the stock is owned by hedge funds and other institutional investors.
NUE has been the subject of a number of research reports. Zacks Investment Research cut Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday. Jefferies Financial Group reissued a “buy” rating and issued a $80.00 price objective on shares of Nucor in a research note on Friday, July 13th. KeyCorp raised Nucor from a “sector weight” rating to an “overweight” rating and set a $77.00 price objective for the company in a research note on Tuesday, July 24th. Finally, Macquarie raised Nucor from a “neutral” rating to an “outperform” rating and set a $75.00 price objective for the company in a research note on Thursday, May 17th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $71.16.
Shares of NYSE:NUE opened at $62.38 on Friday. The company has a market cap of $20.07 billion, a P/E ratio of 17.77, a P/E/G ratio of 0.71 and a beta of 1.57. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.55 and a current ratio of 3.05. Nucor Co. has a 12-month low of $51.67 and a 12-month high of $70.48.
Nucor (NYSE:NUE) last announced its earnings results on Thursday, July 19th. The basic materials company reported $2.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.10 by ($0.03). The company had revenue of $6.46 billion for the quarter, compared to analysts’ expectations of $6.47 billion. Nucor had a net margin of 7.58% and a return on equity of 16.22%. The firm’s quarterly revenue was up 24.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.00 EPS. research analysts predict that Nucor Co. will post 7.45 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 10th. Investors of record on Friday, June 29th were given a dividend of $0.38 per share. The ex-dividend date was Thursday, June 28th. This represents a $1.52 annualized dividend and a dividend yield of 2.44%. Nucor’s payout ratio is 43.30%.
Nucor Company Profile
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; hollow structural section steel tubing, steel electrical conduit, plate steel, and structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, wire rods, and special bar quality; and tubular and plate steel products.
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