Macquarie Group Ltd. maintained its stake in shares of Nucor Corp. (NYSE:NUE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,500 shares of the company’s stock at the end of the second quarter. Macquarie Group Ltd.’s holdings in Nucor Corp. were worth $371,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Norges Bank acquired a new stake in shares of Nucor Corp. during the fourth quarter worth approximately $58,595,000. JPMorgan Chase & Co. boosted its stake in shares of Nucor Corp. by 385.6% in the second quarter. JPMorgan Chase & Co. now owns 1,453,887 shares of the company’s stock worth $71,838,000 after buying an additional 1,154,514 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in shares of Nucor Corp. by 643.0% in the first quarter. Panagora Asset Management Inc. now owns 1,302,205 shares of the company’s stock worth $61,594,000 after buying an additional 1,126,931 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Nucor Corp. by 1,678.3% in the first quarter. Renaissance Technologies LLC now owns 1,063,400 shares of the company’s stock worth $50,299,000 after buying an additional 1,003,600 shares during the last quarter. Finally, Prudential Financial Inc. boosted its stake in shares of Nucor Corp. by 196.3% in the second quarter. Prudential Financial Inc. now owns 1,503,209 shares of the company’s stock worth $74,273,000 after buying an additional 995,828 shares during the last quarter. 77.92% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Nucor Corp. (NYSE:NUE) opened at 48.86 on Friday. The firm has a market cap of $15.55 billion, a P/E ratio of 33.49 and a beta of 1.48. Nucor Corp. has a 12 month low of $33.90 and a 12 month high of $57.08. The firm has a 50-day moving average of $48.79 and a 200 day moving average of $49.51.
Nucor Corp. (NYSE:NUE) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.03. Nucor Corp. had a return on equity of 8.58% and a net margin of 3.00%. The firm earned $4.25 billion during the quarter, compared to analyst estimates of $4.49 billion. On average, equities research analysts anticipate that Nucor Corp. will post $2.71 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Friday, September 30th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.50 dividend on an annualized basis and a yield of 3.07%. Nucor Corp.’s payout ratio is presently 102.04%.
NUE has been the topic of a number of research reports. Deutsche Bank AG raised shares of Nucor Corp. from a “hold” rating to a “buy” rating and increased their price objective for the company from $52.00 to $60.00 in a research note on Wednesday, July 6th. BMO Capital Markets set a $51.00 price objective on shares of Nucor Corp. and gave the company a “hold” rating in a research note on Wednesday, September 14th. Barclays PLC increased their price objective on shares of Nucor Corp. from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, July 12th. Bank of America Corp. cut shares of Nucor Corp. from a “buy” rating to a “neutral” rating and set a $56.00 price objective on the stock. in a research note on Wednesday, July 20th. Finally, Jefferies Group restated a “buy” rating and issued a $60.00 target price (up from $56.00) on shares of Nucor Corp. in a report on Friday, June 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Nucor Corp. presently has a consensus rating of “Buy” and a consensus target price of $53.14.
In other news, Chairman John J. Ferriola sold 12,128 shares of Nucor Corp. stock in a transaction dated 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 sale, the chairman now directly owns 354,420 shares in the company, valued at approximately $19,181,210.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO James D. Frias sold 9,000 shares of Nucor Corp. stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $53.14, for a total value of $478,260.00. Following the sale, the chief financial officer now owns 156,065 shares of the company’s stock, valued at $8,293,294.10. The disclosure for this sale can be found here. Company insiders own 0.63% of the company’s stock.
Nucor Corp. Company Profile
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.
Want to see what other hedge funds are holding NUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nucor Corp. (NYSE:NUE).
Receive News & Ratings for Nucor Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor Corp. and related companies with MarketBeat.com's FREE daily email newsletter.