QCI Asset Management Inc. NY cut its stake in shares of Nucor Co. (NYSE:NUE) by 0.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 221,288 shares of the basic materials company’s stock after selling 1,184 shares during the period. QCI Asset Management Inc. NY’s holdings in Nucor were worth $13,831,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Jacobi Capital Management LLC raised its holdings in Nucor by 166.7% during the first quarter. Jacobi Capital Management LLC now owns 1,664 shares of the basic materials company’s stock valued at $100,000 after acquiring an additional 1,040 shares during the period. Signaturefd LLC bought a new stake in Nucor during the first quarter valued at about $106,000. Parallel Advisors LLC raised its holdings in Nucor by 120.0% during the second quarter. Parallel Advisors LLC now owns 2,231 shares of the basic materials company’s stock valued at $139,000 after acquiring an additional 1,217 shares during the period. Centaurus Financial Inc. bought a new stake in Nucor during the first quarter valued at about $146,000. Finally, Transamerica Financial Advisors Inc. bought a new stake in Nucor during the second quarter valued at about $153,000. 77.84% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have commented on NUE shares. Jefferies Financial Group reissued a “buy” rating and set a $80.00 price target on shares of Nucor in a report on Friday, July 13th. Zacks Investment Research cut Nucor from a “buy” rating to a “hold” rating in a report on Wednesday, May 30th. Morgan Stanley raised their price target on Nucor from $68.00 to $73.00 and gave the company an “equal weight” rating in a report on Tuesday, April 17th. UBS Group started coverage on Nucor in a report on Tuesday, April 17th. They set a “neutral” rating and a $65.00 price target on the stock. Finally, Macquarie raised Nucor from a “neutral” rating to an “outperform” rating and set a $75.00 target price on the stock in a report on Thursday, May 17th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $71.16.
Shares of NUE stock opened at $63.45 on Friday. Nucor Co. has a 12-month low of $51.67 and a 12-month high of $70.48. The company has a current ratio of 3.05, a quick ratio of 1.55 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $20.06 billion, a PE ratio of 18.08, a PEG ratio of 0.71 and a beta of 1.57.
Nucor (NYSE:NUE) last issued 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 firm had revenue of $6.46 billion during the quarter, compared to the consensus estimate of $6.47 billion. Nucor had a return on equity of 16.22% and a net margin of 7.58%. The company’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same period last year, the firm posted $1.00 earnings per share. analysts predict that Nucor Co. will post 7.45 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 10th. Investors of record on Friday, June 29th were given a $0.38 dividend. The ex-dividend date of this dividend was Thursday, June 28th. This represents a $1.52 annualized dividend and a yield of 2.40%. Nucor’s dividend payout ratio is currently 43.30%.
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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