Community Bank N.A. boosted its stake in shares of Nucor Corp. (NYSE:NUE) by 0.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 51,133 shares of the company’s stock after buying an additional 300 shares during the period. Community Bank N.A.’s holdings in Nucor Corp. were worth $2,528,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position 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 valued at $71,838,000 after buying an additional 1,154,514 shares during the last quarter. Prudential Financial Inc. increased its position in 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 in the last quarter. AQR Capital Management LLC increased its position in Nucor Corp. by 314.1% in the second quarter. AQR Capital Management LLC now owns 915,942 shares of the company’s stock worth $45,257,000 after buying an additional 694,744 shares in the last quarter. Panagora Asset Management Inc. increased its position in Nucor Corp. by 42.4% in the second quarter. Panagora Asset Management Inc. now owns 1,854,498 shares of the company’s stock worth $91,631,000 after buying an additional 552,293 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Nucor Corp. by 2.6% in the second quarter. Vanguard Group Inc. now owns 20,341,406 shares of the company’s stock worth $1,005,070,000 after buying an additional 507,208 shares in the last quarter. 76.77% of the stock is owned by hedge funds and other institutional investors.
Nucor Corp. (NYSE:NUE) traded down 1.40% during trading on Monday, hitting $61.97. The stock had a trading volume of 2,721,497 shares. The company’s 50-day moving average is $52.56 and its 200 day moving average is $50.70. The firm has a market cap of $19.74 billion, a PE ratio of 38.88 and a beta of 1.38. Nucor Corp. has a 52 week low of $33.90 and a 52 week high of $62.90.
Nucor Corp. (NYSE:NUE) last announced its quarterly earnings data 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 firm had revenue of $4.29 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period in the previous year, the business posted $0.71 EPS. Nucor Corp.’s revenue for the quarter was up 1.5% compared to the same quarter last year. Equities analysts expect that Nucor Corp. will post $2.34 EPS for the current fiscal year.
The company 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. This represents a $1.50 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Wednesday, September 28th. Nucor Corp.’s payout ratio is presently 93.75%.
A number of research analysts have recently commented on NUE shares. Jefferies Group reaffirmed a “buy” rating on shares of Nucor Corp. in a research note on Wednesday, November 9th. Credit Suisse Group AG set a $52.00 price objective on shares of Nucor Corp. and gave the company a “hold” rating in a research note on Saturday, October 8th. Zacks Investment Research downgraded shares of Nucor Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, October 18th. Argus reaffirmed a “buy” rating and set a $65.00 price objective (up previously from $58.00) on shares of Nucor Corp. in a research note on Monday, November 21st. Finally, Berenberg Bank reaffirmed a “hold” rating and set a $57.50 price objective on shares of Nucor Corp. in a research note on Tuesday, September 20th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company’s stock. The company has an average 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.