BW Gestao de Investimentos Ltda. increased its stake in Nucor Corporation (NYSE:NUE) by 76.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 475,000 shares of the basic materials company’s stock after acquiring an additional 205,650 shares during the period. Nucor Corporation makes up 5.4% of BW Gestao de Investimentos Ltda.’s investment portfolio, making the stock its 3rd largest position. BW Gestao de Investimentos Ltda. owned about 0.15% of Nucor Corporation worth $26,619,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mckinley Capital Management LLC Delaware acquired a new stake in shares of Nucor Corporation in the second quarter worth approximately $100,000. Krilogy Financial LLC raised its holdings in Nucor Corporation by 4,594.6% in the second quarter. Krilogy Financial LLC now owns 1,737 shares of the basic materials company’s stock valued at $101,000 after buying an additional 1,700 shares during the period. Washington Trust Bank raised its holdings in Nucor Corporation by 60.2% in the second quarter. Washington Trust Bank now owns 1,756 shares of the basic materials company’s stock valued at $102,000 after buying an additional 660 shares during the period. Fiduciary Trust Co. purchased a new position in Nucor Corporation in the second quarter valued at approximately $109,000. Finally, Sun Life Financial INC raised its holdings in Nucor Corporation by 23,290.0% in the second quarter. Sun Life Financial INC now owns 2,339 shares of the basic materials company’s stock valued at $135,000 after buying an additional 2,329 shares during the period. 74.92% of the stock is currently owned by institutional investors and hedge funds.
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Nucor Corporation (NYSE:NUE) last released its quarterly earnings results on Thursday, October 19th. The basic materials company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. Nucor Corporation had a net margin of 5.80% and a return on equity of 12.78%. The business had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter last year, the company earned $0.88 earnings per share. The business’s quarterly revenue was up 20.5% compared to the same quarter last year. research analysts forecast that Nucor Corporation will post 3.7 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Friday, September 29th were given a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date was Thursday, September 28th. Nucor Corporation’s payout ratio is currently 42.06%.
In other news, Director Victoria F. Haynes sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $55.16, for a total transaction of $137,900.00. Following the completion of the sale, the director now owns 33,573 shares of the company’s stock, valued at $1,851,886.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ladd R. Hall sold 17,583 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $57.94, for a total transaction of $1,018,759.02. Following the sale, the insider now directly owns 206,406 shares of the company’s stock, valued at approximately $11,959,163.64. The disclosure for this sale can be found here. Insiders have sold 44,217 shares of company stock valued at $2,608,231 in the last three months. Corporate insiders own 0.70% of the company’s stock.
NUE has been the topic of several research reports. Macquarie initiated coverage on shares of Nucor Corporation in a report on Wednesday, September 6th. They issued a “neutral” rating and a $57.00 price target on the stock. ValuEngine lowered shares of Nucor Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Jefferies Group LLC set a $68.00 price target on shares of Nucor Corporation and gave the company a “buy” rating in a report on Monday, August 21st. Credit Suisse Group raised their price target on shares of Nucor Corporation from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, October 20th. Finally, Cowen and Company raised their price target on shares of Nucor Corporation from $57.00 to $63.00 and gave the company a “market perform” rating in a report on Monday, October 23rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. Nucor Corporation presently has a consensus rating of “Hold” and a consensus target price of $67.32.
Nucor Corporation 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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