Raymond James Trust N.A. raised its position in Nucor Corp. (NYSE:NUE) by 17.4% during the third quarter, Holdings Channel reports. The fund owned 12,294 shares of the company’s stock after buying an additional 1,823 shares during the period. Raymond James Trust N.A.’s holdings in Nucor Corp. were worth $607,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of NUE. Blue Chip Partners Inc. acquired a new stake in shares of Nucor Corp. during the second quarter worth about $102,000. NEXT Financial Group Inc raised its position in shares of Nucor Corp. by 4.5% in the second quarter. NEXT Financial Group Inc now owns 2,310 shares of the company’s stock worth $114,000 after buying an additional 100 shares during the last quarter. SevenBridge Financial Group LLC purchased a new position in shares of Nucor Corp. during the second quarter worth $114,000. Tuttle Tactical Management LLC purchased a new position in shares of Nucor Corp. during the second quarter worth $116,000. Finally, Sunbelt Securities Inc. raised its position in shares of Nucor Corp. by 0.8% in the second quarter. Sunbelt Securities Inc. now owns 2,494 shares of the company’s stock worth $123,000 after buying an additional 19 shares during the last quarter. Institutional investors and hedge funds own 78.96% of the company’s stock.
Shares of Nucor Corp. (NYSE:NUE) traded up 0.54% during midday trading on Friday, hitting $62.85. 855,138 shares of the stock were exchanged. The company has a market cap of $20.02 billion, a PE ratio of 39.43 and a beta of 1.38. Nucor Corp. has a 12 month low of $33.90 and a 12 month high of $62.90. The stock has a 50 day moving average price of $52.14 and a 200-day moving average price of $50.56.
Nucor Corp. (NYSE:NUE) last issued its quarterly earnings data on Thursday, October 20th. The company reported $0.84 EPS for the quarter, missing the 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 company earned $4.29 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the prior year, the company posted $0.71 earnings per share. The business’s revenue was up 1.5% compared to the same quarter last year. On average, analysts predict that Nucor Corp. will post $2.34 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Friday, September 30th were issued a $0.375 dividend. The ex-dividend date was Wednesday, September 28th. This represents a $1.50 annualized dividend and a dividend yield of 2.39%. Nucor Corp.’s dividend payout ratio is currently 93.75%.
A number of research analysts have recently weighed in on NUE shares. Citigroup Inc. started coverage on Nucor Corp. in a research report on Monday, August 22nd. They set a “neutral” rating and a $55.00 price objective for the company. Jefferies Group cut their price objective on Nucor Corp. from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Thursday, September 15th. BMO Capital Markets set a $51.00 price objective on Nucor Corp. and gave the company a “hold” rating in a research report on Wednesday, September 14th. Berenberg Bank restated a “hold” rating and set a $57.50 price objective on shares of Nucor Corp. in a research report on Tuesday, September 20th. Finally, Credit Suisse Group AG set a $52.00 price objective on Nucor Corp. and gave the company a “hold” rating in a research report on Saturday, October 8th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the stock. Nucor Corp. presently has a consensus rating of “Hold” and a consensus 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.