Mason Street Advisors LLC acquired a new position in Nucor Corp. (NYSE:NUE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 42,823 shares of the company’s stock, valued at approximately $2,116,000.
Several other institutional investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its position in Nucor Corp. by 51.4% in the first quarter. Envestnet Asset Management Inc. now owns 44,070 shares of the company’s stock worth $2,085,000 after buying an additional 14,954 shares during the period. Arizona State Retirement System boosted its position in Nucor Corp. by 1.3% in the first quarter. Arizona State Retirement System now owns 86,172 shares of the company’s stock worth $4,076,000 after buying an additional 1,100 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its position in Nucor Corp. by 12.3% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 35,545 shares of the company’s stock worth $1,683,000 after buying an additional 3,898 shares during the period. Euclid Advisors LLC bought a new position in Nucor Corp. during the first quarter worth about $639,000. Finally, BlueMountain Capital Management LLC bought a new position in Nucor Corp. during the first quarter worth about $493,000. 78.96% of the stock is currently owned by institutional investors.
Nucor Corp. (NYSE:NUE) traded up 0.54% on Friday, reaching $62.85. 855,138 shares of the company traded hands. Nucor Corp. has a 1-year low of $33.90 and a 1-year high of $62.90. The stock’s 50-day moving average is $52.14 and its 200-day moving average is $50.56. The stock has a market capitalization of $20.02 billion, a price-to-earnings ratio of 39.43 and a beta of 1.38.
Nucor Corp. (NYSE:NUE) last issued its earnings results on Thursday, October 20th. The company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by $0.06. The firm earned $4.29 billion during the quarter, compared to the consensus estimate of $3.77 billion. Nucor Corp. had a return on equity of 9.27% and a net margin of 3.26%. The company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.71 EPS. Equities research analysts expect 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 dividend of $0.375 per share. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $1.50 annualized dividend and a dividend yield of 2.39%. Nucor Corp.’s payout ratio is 93.75%.
NUE has been the topic of a number of research analyst reports. Citigroup Inc. started coverage on shares of Nucor Corp. in a research report on Monday, August 22nd. They set a “neutral” rating and a $55.00 price objective on the stock. Jefferies Group lowered their target price on shares of Nucor Corp. from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, September 15th. BMO Capital Markets set a $51.00 target price on shares of Nucor Corp. and gave the stock a “hold” rating in a report on Wednesday, September 14th. Berenberg Bank restated a “hold” rating and issued a $57.50 target price on shares of Nucor Corp. in a report on Tuesday, September 20th. Finally, Credit Suisse Group AG set a $52.00 target price on shares of Nucor Corp. and gave the stock a “hold” rating in a report on Saturday, October 8th. One 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. Nucor Corp. has a consensus rating of “Hold” and an average target price of $53.75.
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.