3 days Ago By ABMN Staff
LPL Financial LLC lessened its stake in Nucor Co. ( NYSE:NUE – Free Report ) by 1.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission.
The firm owned 278,328 shares of the basic materials company’s stock after selling 4,168 shares during the quarter. LPL Financial LLC owned about 0.12% of Nucor worth $43,998,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of NUE. Norges Bank purchased a new position in Nucor in the 4th quarter worth approximately $377,631,000. Global Assets Advisory LLC purchased a new position in shares of Nucor during the 1st quarter valued at approximately $90,216,000.
Swedbank AB purchased a new position in shares of Nucor during the 1st quarter valued at approximately $37,395,000. Captrust Financial Advisors boosted its stake in shares of Nucor by 23.5% during the 1st quarter.
Captrust Financial Advisors now owns 804,150 shares of the basic materials company’s stock valued at $159,141,000 after buying an additional 153,077 shares during the last quarter. Finally, Trinity Street Asset Management LLP purchased a new position in shares of Nucor during the 2nd quarter valued at approximately $19,213,000. Hedge funds and other institutional investors own 76.
48% of the company’s stock. Analysts Set New Price Targets NUE has been the subject of several research analyst reports. JPMorgan Chase & Co.
upgraded Nucor from a “neutral” rating to an “overweight” rating and increased their target price for the company from $170.00 to $174.00 in a research note on Monday, September 9th.
Argus upgraded Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Bank of America reduced their target price on Nucor from $210.00 to $200.
00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Jefferies Financial Group started coverage on Nucor in a research report on Monday, May 20th. They set a “hold” rating and a $190.
00 price target on the stock. Finally, BMO Capital Markets dropped their price target on Nucor from $185.00 to $175.
00 and set a “market perform” rating on the stock in a research report on Monday, June 17th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.
com, Nucor has an average rating of “Moderate Buy” and a consensus price target of $195.00. Nucor Price Performance Shares of NYSE NUE opened at $143.
59 on Monday. Nucor Co. has a 1-year low of $133.
42 and a 1-year high of $203.00. The company has a debt-to-equity ratio of 0.
26, a current ratio of 2.93 and a quick ratio of 1.85.
The business’s fifty day moving average price is $150.71 and its two-hundred day moving average price is $167.41.
The firm has a market capitalization of $34.43 billion, a PE ratio of 8.45 and a beta of 1.
55. Nucor ( NYSE:NUE – Get Free Report ) last issued its earnings results on Monday, July 22nd. The basic materials company reported $2.
68 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.37.
Nucor had a return on equity of 15.69% and a net margin of 10.45%.
The firm had revenue of $8.08 billion for the quarter, compared to analyst estimates of $7.69 billion.
During the same period last year, the company earned $5.81 earnings per share. The firm’s revenue for the quarter was down 15.
2% on a year-over-year basis. On average, research analysts expect that Nucor Co. will post 9.
95 EPS for the current year. Nucor Announces Dividend The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be given a $0.
54 dividend. This represents a $2.16 annualized dividend and a yield of 1.
50%. The ex-dividend date of this dividend is Friday, September 27th. Nucor’s dividend payout ratio is presently 12.
71%. Insiders Place Their Bets In other news, EVP Daniel R. Needham sold 8,624 shares of the firm’s stock in a transaction on Wednesday, July 31st.
The stock was sold at an average price of $160.00, for a total transaction of $1,379,840.00.
Following the transaction, the executive vice president now directly owns 99,049 shares of the company’s stock, valued at $15,847,840. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website . 0.
46% of the stock is owned by corporate insiders. Nucor Company Profile ( Free Report ) Nucor Corporation engages in manufacture and sale of steel and steel products. 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; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses. Further Reading Receive News & Ratings for Nucor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor and related companies with MarketBeat.com's FREE daily email newsletter .
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