Eliot Finkel Investment Counsel LLC lowered its position in Nucor Corporation (NYSE:NUE) by 0.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,480 shares of the basic materials company’s stock after selling 810 shares during the period. Nucor Corporation comprises approximately 4.1% of Eliot Finkel Investment Counsel LLC’s investment portfolio, making the stock its 9th largest position. Eliot Finkel Investment Counsel LLC’s holdings in Nucor Corporation were worth $5,403,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in NUE. Russell Investments Group Ltd. acquired a new stake in Nucor Corporation during the fourth quarter worth approximately $7,411,000. FMR LLC raised its stake in Nucor Corporation by 905.2% in the fourth quarter. FMR LLC now owns 2,715,677 shares of the basic materials company’s stock worth $161,637,000 after buying an additional 2,445,520 shares in the last quarter. Suntrust Banks Inc. raised its stake in Nucor Corporation by 5.3% in the first quarter. Suntrust Banks Inc. now owns 148,786 shares of the basic materials company’s stock worth $8,884,000 after buying an additional 7,440 shares in the last quarter. Cigna Investments Inc. New acquired a new stake in Nucor Corporation during the fourth quarter worth approximately $697,000. Finally, Cohen Capital Management Inc. acquired a new stake in Nucor Corporation during the first quarter worth approximately $227,000. 77.42% of the stock is owned by hedge funds and other institutional investors.
Shares of Nucor Corporation (NYSE:NUE) traded down 0.32% during trading on Thursday, reaching $55.79. 297,584 shares of the company were exchanged. The firm has a market cap of $17.80 billion, a price-to-earnings ratio of 16.81 and a beta of 1.52. The stock’s 50-day moving average is $58.23 and its 200-day moving average is $60.43. Nucor Corporation has a 52-week low of $44.81 and a 52-week high of $68.00.
Nucor Corporation (NYSE:NUE) last issued its quarterly earnings data on Thursday, April 20th. The basic materials company reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by $0.03. The business had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.67 billion. Nucor Corporation had a net margin of 5.90% and a return on equity of 12.63%. The firm’s quarterly revenue was up 29.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.27 earnings per share. Equities research analysts predict that Nucor Corporation will post $4.46 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 11th. Stockholders of record on Friday, June 30th will be issued a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Wednesday, June 28th. Nucor Corporation’s dividend payout ratio is currently 47.48%.
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NUE has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Nucor Corporation from a “hold” rating to a “strong-buy” rating and set a $69.00 target price for the company in a report on Tuesday, March 28th. J P Morgan Chase & Co boosted their price target on shares of Nucor Corporation from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, March 22nd. Deutsche Bank AG boosted their price target on shares of Nucor Corporation from $73.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, March 21st. Barclays PLC reissued a “buy” rating and issued a $73.00 price target on shares of Nucor Corporation in a report on Friday, May 5th. Finally, Macquarie raised shares of Nucor Corporation from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $55.00 to $62.00 in a report on Monday, April 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $68.97.
In other news, Director Victoria F. Haynes sold 3,000 shares of Nucor Corporation stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $61.52, for a total transaction of $184,560.00. Following the completion of the transaction, the director now directly owns 33,703 shares in the company, valued at $2,073,408.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman John J. Ferriola sold 12,232 shares of Nucor Corporation stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $61.60, for a total transaction of $753,491.20. Following the transaction, the chairman now owns 349,855 shares of the company’s stock, valued at $21,551,068. The disclosure for this sale can be found here. 0.70% of the stock is owned by company insiders.
Nucor Corporation Company 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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