Mutual of America Capital Management LLC lessened its position in Nucor Co. (NYSE:NUE) by 34.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 50,551 shares of the basic materials company’s stock after selling 26,161 shares during the period. Mutual of America Capital Management LLC’s holdings in Nucor were worth $3,214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Flippin Bruce & Porter Inc. grew its position in shares of Nucor by 1,802.0% in the 3rd quarter. Flippin Bruce & Porter Inc. now owns 82,298 shares of the basic materials company’s stock valued at $4,612,000 after acquiring an additional 77,971 shares during the period. CI Investments Inc. bought a new position in shares of Nucor in the 3rd quarter valued at about $55,250,000. Deltec Asset Management LLC grew its position in shares of Nucor by 184.8% in the 3rd quarter. Deltec Asset Management LLC now owns 28,481 shares of the basic materials company’s stock valued at $1,596,000 after acquiring an additional 18,481 shares during the period. Berkshire Asset Management LLC PA boosted its holdings in shares of Nucor by 49.1% during the 3rd quarter. Berkshire Asset Management LLC PA now owns 230,408 shares of the basic materials company’s stock worth $12,912,000 after buying an additional 75,899 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of Nucor by 1.4% during the 3rd quarter. Rhumbline Advisers now owns 559,037 shares of the basic materials company’s stock worth $31,328,000 after buying an additional 7,570 shares during the period. 74.33% of the stock is owned by institutional investors.
In other Nucor news, EVP Robert J. Stratman sold 39,037 shares of Nucor 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 in the company, valued at approximately $14,936,677.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is owned by insiders.
Nucor (NYSE:NUE) last issued its quarterly earnings data on Tuesday, January 30th. The basic materials company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.10. Nucor had a net margin of 6.58% and a return on equity of 13.03%. The business had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter in the previous year, the company earned $0.50 EPS. The business’s revenue was up 28.7% on a year-over-year basis. equities analysts expect that Nucor Co. will post 4.92 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Friday, December 29th were paid a $0.38 dividend. This is a boost from Nucor’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $1.52 annualized dividend and a yield of 2.46%. Nucor’s payout ratio is 36.72%.
Several analysts recently commented on the stock. Morgan Stanley reduced their target price on shares of Nucor from $70.00 to $68.00 and set a “hold” rating for the company in a report on Tuesday. Zacks Investment Research downgraded shares of Nucor from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Jefferies Group reaffirmed a “buy” rating and set a $76.00 target price on shares of Nucor in a report on Wednesday, January 31st. BMO Capital Markets lifted their target price on shares of Nucor to $72.00 and gave the stock a “market perform” rating in a report on Wednesday, January 31st. They noted that the move was a valuation call. Finally, Credit Suisse Group lifted their target price on shares of Nucor from $67.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $69.90.
TRADEMARK VIOLATION WARNING: “Mutual of America Capital Management LLC Has $3.21 Million Stake in Nucor Co. (NUE)” was reported by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this report on another website, it was copied illegally and republished in violation of international trademark and copyright legislation. The legal version of this report can be read at https://sportsperspectives.com/2018/02/10/mutual-of-america-capital-management-llc-has-3-21-million-stake-in-nucor-co-nue.html.
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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