Envestnet Asset Management Inc. trimmed its position in shares of Nucor Co. (NYSE:NUE) by 71.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,049 shares of the basic materials company’s stock after selling 84,616 shares during the period. Envestnet Asset Management Inc.’s holdings in Nucor were worth $1,851,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of NUE. Mckinley Capital Management LLC Delaware purchased a new position in Nucor during the 2nd quarter worth approximately $100,000. Krilogy Financial LLC grew its position in Nucor by 4,594.6% during the 2nd quarter. Krilogy Financial LLC now owns 1,737 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 1,700 shares in the last quarter. Fiduciary Trust Co. purchased a new position in Nucor during the 2nd quarter worth approximately $109,000. Sun Life Financial INC grew its position in Nucor by 23,290.0% during the 2nd quarter. Sun Life Financial INC now owns 2,339 shares of the basic materials company’s stock worth $135,000 after purchasing an additional 2,329 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its position in Nucor by 791.0% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 2,673 shares of the basic materials company’s stock worth $150,000 after purchasing an additional 2,373 shares in the last quarter. Hedge funds and other institutional investors own 74.55% of the company’s stock.
Several equities analysts have recently commented on NUE shares. Credit Suisse Group boosted their price target on shares of Nucor from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, October 20th. Zacks Investment Research upgraded shares of Nucor from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Bank of America restated a “buy” rating and set a $73.00 price target on shares of Nucor in a report on Wednesday, September 6th. Citigroup set a $66.00 price target on shares of Nucor and gave the company a “buy” rating in a report on Friday, October 20th. Finally, Macquarie started coverage on shares of Nucor in a report on Wednesday, September 6th. They set a “neutral” rating and a $57.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $66.80.
Shares of Nucor Co. (NUE) opened at $60.11 on Friday. The stock has a market cap of $19,105.22, a price-to-earnings ratio of 17.67, a P/E/G ratio of 1.36 and a beta of 1.58. Nucor Co. has a fifty-two week low of $51.67 and a fifty-two week high of $66.00. The company has a quick ratio of 1.12, a current ratio of 2.11 and a debt-to-equity ratio of 0.37.
Nucor (NYSE:NUE) last issued its quarterly earnings data on Thursday, October 19th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.01. The firm had revenue of $5.17 billion during 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%. Nucor’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.88 earnings per share. analysts anticipate that Nucor Co. will post 3.67 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, December 29th will be issued a $0.38 dividend. The ex-dividend date is Thursday, December 28th. This is a boost from Nucor’s previous quarterly dividend of $0.38. This represents a $1.52 dividend on an annualized basis and a yield of 2.53%. Nucor’s dividend payout ratio is currently 43.90%.
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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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