Harel Insurance Investments & Financial Services Ltd. reduced its stake in shares of Nucor Co. (NYSE:NUE) by 31.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 2,200 shares of the basic materials company’s stock after selling 1,000 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Nucor were worth $138,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of NUE. Schwab Charles Investment Management Inc. raised its position in Nucor by 3.1% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,268,403 shares of the basic materials company’s stock worth $77,487,000 after purchasing an additional 38,495 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in Nucor by 1.0% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 915,674 shares of the basic materials company’s stock worth $55,939,000 after purchasing an additional 8,677 shares during the period. Alps Advisors Inc. raised its position in Nucor by 9.9% in the 2nd quarter. Alps Advisors Inc. now owns 805,075 shares of the basic materials company’s stock worth $51,187,000 after purchasing an additional 72,509 shares during the period. California Public Employees Retirement System raised its position in Nucor by 10.7% in the 1st quarter. California Public Employees Retirement System now owns 798,442 shares of the basic materials company’s stock worth $48,777,000 after purchasing an additional 77,044 shares during the period. Finally, Stifel Financial Corp raised its position in Nucor by 15.6% in the 1st quarter. Stifel Financial Corp now owns 783,645 shares of the basic materials company’s stock worth $47,875,000 after purchasing an additional 105,716 shares during the period. 77.87% of the stock is owned by institutional investors.
Get Nucor alerts:In other Nucor news, insider Leon J. Topalian sold 3,115 shares of the business’s stock in a transaction dated Thursday, June 21st. The shares were sold at an average price of $64.98, for a total value of $202,412.70. Following the transaction, the insider now owns 43,370 shares in the company, valued at $2,818,182.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David A. Sumoski sold 51,238 shares of the business’s stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $66.65, for a total transaction of $3,415,012.70. Following the completion of the transaction, the insider now owns 139,839 shares in the company, valued at approximately $9,320,269.35. The disclosure for this sale can be found here. Insiders sold 122,443 shares of company stock worth $8,277,404 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.
A number of brokerages recently commented on NUE. Jefferies Financial Group reiterated a “buy” rating and issued a $80.00 target price on shares of Nucor in a research report on Friday, July 13th. Zacks Investment Research upgraded shares of Nucor from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Thursday, July 12th. KeyCorp upgraded shares of Nucor from a “sector weight” rating to an “overweight” rating and set a $77.00 target price on the stock in a research report on Tuesday, July 24th. Macquarie upgraded shares of Nucor from a “neutral” rating to an “outperform” rating and set a $75.00 target price on the stock in a research report on Thursday, May 17th. Finally, Morgan Stanley lifted their target price on shares of Nucor from $68.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 17th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $71.16.
Nucor opened at $65.69 on Thursday, Marketbeat reports. Nucor Co. has a 12-month low of $51.67 and a 12-month high of $70.48. The stock has a market capitalization of $21.29 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 0.76 and a beta of 1.57. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.55 and a current ratio of 3.05.
Nucor (NYSE:NUE) last released its quarterly earnings data on Thursday, July 19th. The basic materials company reported $2.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.03). Nucor had a net margin of 7.58% and a return on equity of 16.22%. The firm had revenue of $6.46 billion during the quarter, compared to analysts’ expectations of $6.47 billion. During the same quarter in the previous year, the firm posted $1.00 EPS. Nucor’s revenue was up 24.9% compared to the same quarter last year. equities analysts predict that Nucor Co. will post 7.3 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 10th. Shareholders of record on Friday, June 29th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Thursday, June 28th. Nucor’s payout ratio is 43.30%.
About Nucor
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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; hollow structural section steel tubing, steel electrical conduit, plate steel, and structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, wire rods, and special bar quality; and tubular and plate steel products.
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