Today, 475 Shares of Nucor Corp. (NUE) are sold by Investment Counselors of Maryland LLC

Today, 475 Shares of Nucor Corp. (NUE) are sold by Investment Counselors of Maryland LLC

Investment Counselors of Maryland LLC reduced its stake in shares of Nucor Corp. (NYSE:NUE) by 2.0% during the third quarter, Holdings Channel reports. The fund owned 23,275 shares of the company’s stock after selling 475 shares during the period. Investment Counselors of Maryland LLC’s holdings in Nucor Corp. were worth $1,151,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in NUE. Gulf International Bank UK Ltd increased its position in shares of Nucor Corp. by 0.4% in the second quarter. Gulf International Bank UK Ltd now owns 94,429 shares of the company’s stock worth $4,665,000 after buying an additional 400 shares in the last quarter. Chevy Chase Trust Holdings Inc. increased its position in shares of Nucor Corp. by 1.2% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 271,593 shares of the company’s stock worth $13,419,000 after buying an additional 3,321 shares in the last quarter. Exxonmobil Investment Management Inc. TX increased its position in shares of Nucor Corp. by 6.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 82,296 shares of the company’s stock worth $4,066,000 after buying an additional 4,885 shares in the last quarter. DNB Asset Management AS increased its position in shares of Nucor Corp. by 2.2% in the second quarter. DNB Asset Management AS now owns 27,898 shares of the company’s stock worth $1,378,000 after buying an additional 600 shares in the last quarter. Finally, British Columbia Investment Management Corp increased its position in shares of Nucor Corp. by 19.6% in the second quarter. British Columbia Investment Management Corp now owns 198,815 shares of the company’s stock worth $9,823,000 after buying an additional 32,613 shares in the last quarter. Hedge funds and other institutional investors own 78.96% of the company’s stock.

Nucor Corp. (NYSE:NUE) traded up 0.54% on Friday, hitting $62.85. The stock had a trading volume of 855,138 shares. The company has a 50 day moving average price of $51.61 and a 200-day moving average price of $50.44. Nucor Corp. has a 52-week low of $33.90 and a 52-week high of $62.90. The company has a market cap of $20.02 billion, a price-to-earnings ratio of 39.43 and a beta of 1.38.

Nucor Corp. (NYSE:NUE) last announced its earnings results on Thursday, October 20th. The company reported $0.84 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by $0.06. Nucor Corp. had a return on equity of 9.27% and a net margin of 3.26%. The business had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter last year, the firm earned $0.71 earnings per share. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, equities research analysts predict that Nucor Corp. will post $2.34 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Friday, September 30th were paid a dividend of $0.375 per share. The ex-dividend date was Wednesday, September 28th. This represents a $1.50 annualized dividend and a yield of 2.39%. Nucor Corp.’s dividend payout ratio (DPR) is 93.75%.

NUE has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Nucor Corp. from a “strong sell” rating to a “hold” rating in a report on Friday, November 11th. Citigroup Inc. started coverage on Nucor Corp. in a report on Monday, August 22nd. They set a “neutral” rating and a $55.00 target price for the company. Argus reaffirmed a “buy” rating and issued a $65.00 price target (up from $58.00) on shares of Nucor Corp. in a research note on Monday. Berenberg Bank reaffirmed a “hold” rating and issued a $57.50 price target on shares of Nucor Corp. in a research note on Tuesday, September 20th. Finally, BMO Capital Markets set a $51.00 price target on Nucor Corp. and gave the stock a “hold” rating in a research note on Wednesday, September 14th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $53.75.

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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