AE Wealth Management LLC purchased a new stake in Nucor Co. (NYSE:NUE) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 17,278 shares of the basic materials company’s stock, valued at approximately $1,099,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its stake in Nucor by 3.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,621,566 shares of the basic materials company’s stock valued at $258,974,000 after buying an additional 150,219 shares during the last quarter. Boston Partners grew its stake in Nucor by 3.7% in the 3rd quarter. Boston Partners now owns 1,961,046 shares of the basic materials company’s stock valued at $109,897,000 after buying an additional 70,358 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its stake in Nucor by 3.4% in the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 1,874,421 shares of the basic materials company’s stock valued at $105,043,000 after buying an additional 60,915 shares during the last quarter. Legal & General Group Plc grew its stake in Nucor by 2.8% in the 3rd quarter. Legal & General Group Plc now owns 1,729,371 shares of the basic materials company’s stock valued at $96,908,000 after buying an additional 46,786 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in Nucor by 5.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,229,908 shares of the basic materials company’s stock valued at $78,198,000 after buying an additional 61,563 shares during the last quarter. Institutional investors and hedge funds own 74.33% of the company’s stock.
In other Nucor news, EVP Robert J. Stratman sold 39,037 shares of the business’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $63.88, for a total value of $2,493,683.56. Following the completion of the sale, the executive vice president now owns 233,824 shares of the company’s stock, valued at approximately $14,936,677.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.70% of the company’s stock.
Nucor (NYSE:NUE) last posted its quarterly earnings data on Tuesday, January 30th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.10. The firm had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $4.86 billion. Nucor had a net margin of 6.58% and a return on equity of 13.03%. The business’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.50 EPS. equities research analysts expect that Nucor Co. will post 5.02 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, December 29th will be issued a $0.38 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.52 dividend on an annualized basis and a yield of 2.52%. This is an increase from Nucor’s previous quarterly dividend of $0.38. Nucor’s payout ratio is currently 37.07%.
A number of research analysts recently commented on the stock. Morgan Stanley set a $68.00 price target on shares of Nucor and gave the company a “hold” rating in a research note on Tuesday. Credit Suisse Group upped their price target on shares of Nucor from $67.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. BMO Capital Markets upped their price target on shares of Nucor to $72.00 and gave the company a “market perform” rating in a research note on Wednesday, January 31st. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Nucor from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Jefferies Group reiterated a “buy” rating and issued a $76.00 price target on shares of Nucor in a research note on Wednesday, January 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $69.90.
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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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