Deprince Race & Zollo Inc. lowered its stake in Nucor Corp. (NYSE:NUE) by 15.5% during the second quarter, Holdings Channel reports. The fund owned 759,169 shares of the company’s stock after selling 139,155 shares during the period. Deprince Race & Zollo Inc.’s holdings in Nucor Corp. were worth $37,511,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the company. Panagora Asset Management Inc. increased its stake in Nucor Corp. by 643.0% in the first quarter. Panagora Asset Management Inc. now owns 1,302,205 shares of the company’s stock valued at $61,594,000 after buying an additional 1,126,931 shares during the last quarter. Renaissance Technologies LLC increased its stake in Nucor Corp. by 1,678.3% in the first quarter. Renaissance Technologies LLC now owns 1,063,400 shares of the company’s stock valued at $50,299,000 after buying an additional 1,003,600 shares during the last quarter. NN Investment Partners Holdings N.V. increased its stake in Nucor Corp. by 1,068.0% in the second quarter. NN Investment Partners Holdings N.V. now owns 463,942 shares of the company’s stock valued at $22,924,000 after buying an additional 424,222 shares during the last quarter. Acadian Asset Management LLC increased its stake in Nucor Corp. by 759.7% in the second quarter. Acadian Asset Management LLC now owns 478,296 shares of the company’s stock valued at $23,633,000 after buying an additional 422,661 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Nucor Corp. by 20.0% in the second quarter. American Century Companies Inc. now owns 2,019,648 shares of the company’s stock valued at $99,791,000 after buying an additional 337,158 shares during the last quarter. 77.92% of the stock is owned by institutional investors.
Shares of Nucor Corp. (NYSE:NUE) traded down 1.27% during trading on Monday, hitting $48.82. 3,005,347 shares of the stock were exchanged. Nucor Corp. has a 52-week low of $33.90 and a 52-week high of $57.08. The firm has a 50 day moving average of $48.65 and a 200-day moving average of $49.60. The stock has a market cap of $15.54 billion, a PE ratio of 33.46 and a beta of 1.47.
Nucor Corp. (NYSE:NUE) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. Nucor Corp. had a net margin of 3.00% and a return on equity of 8.58%. The firm earned $4.25 billion during the quarter, compared to analyst estimates of $4.49 billion. Equities research analysts anticipate that Nucor Corp. will post $2.71 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, September 30th will be paid a $0.375 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.07%. Nucor Corp.’s dividend payout ratio is presently 102.04%.
A number of equities research analysts have issued reports on NUE shares. Deutsche Bank AG raised shares of Nucor Corp. from a “hold” rating to a “buy” rating and upped their price objective for the stock from $52.00 to $60.00 in a research report on Wednesday, July 6th. BMO Capital Markets set a $51.00 price objective on shares of Nucor Corp. and gave the stock a “hold” rating in a research report on Wednesday, September 14th. Barclays PLC upped their price objective on shares of Nucor Corp. from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 12th. Bank of America Corp. downgraded shares of Nucor Corp. from a “buy” rating to a “neutral” rating and set a $56.00 price objective for the company. in a research report on Wednesday, July 20th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $60.00 price objective (up from $56.00) on shares of Nucor Corp. in a research report on Friday, June 10th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Nucor Corp. presently has an average rating of “Buy” and an average target price of $53.14.
In related news, CFO James D. Frias sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $53.14, for a total value of $478,260.00. Following the transaction, the chief financial officer now owns 156,065 shares of the company’s stock, valued at $8,293,294.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman John J. Ferriola sold 12,128 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $54.12, for a total transaction of $656,367.36. Following the completion of the transaction, the chairman now directly owns 354,420 shares in the company, valued at approximately $19,181,210.40. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by insiders.
About Nucor Corp.
Nucor Corporation (Nucor) manufactures steel and steel products. The Company also produces direct reduced iron (DRI) for use in the Company’s steel mills. It also processes ferrous and nonferrous metals and brokers ferrous and nonferrous metals, pig iron, hot briquetted iron (HBI) and DRI. Nucor operates in three segments: steel mills, steel products and raw materials.
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