Tudor Investment Corp Et Al decreased its position in Nucor Co. (NYSE:NUE) by 41.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,900 shares of the basic materials company’s stock after selling 2,800 shares during the period. Tudor Investment Corp Et Al’s holdings in Nucor were worth $232,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the company. GLG LLC raised its stake in Nucor by 22.3% in the fourth quarter. GLG LLC now owns 17,647 shares of the basic materials company’s stock worth $1,050,000 after buying an additional 3,222 shares in the last quarter. Sciencast Management LP purchased a new stake in Nucor during the fourth quarter worth $517,000. GLG Partners LP raised its stake in Nucor by 593.1% in the fourth quarter. GLG Partners LP now owns 29,512 shares of the basic materials company’s stock worth $1,757,000 after buying an additional 25,254 shares in the last quarter. Bienville Capital Management LLC raised its stake in Nucor by 4.0% in the fourth quarter. Bienville Capital Management LLC now owns 6,427 shares of the basic materials company’s stock worth $385,000 after buying an additional 250 shares in the last quarter. Finally, Wexford Capital LP purchased a new stake in Nucor during the fourth quarter worth $236,000. Institutional investors own 76.41% of the company’s stock.
Shares of Nucor Co. (NYSE:NUE) traded down 0.58% during midday trading on Friday, hitting $60.00. 3,711,377 shares of the company traded hands. The stock has a market capitalization of $19.13 billion, a P/E ratio of 24.17 and a beta of 1.45. The company has a 50-day moving average price of $60.66 and a 200-day moving average price of $58.55. Nucor Co. has a 52 week low of $44.81 and a 52 week high of $68.00.
Nucor (NYSE:NUE) last announced its quarterly earnings results on Thursday, April 20th. The basic materials company reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by $0.03. Nucor had a net margin of 4.53% and a return on equity of 9.32%. The company had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same quarter in the prior year, the business earned $0.27 earnings per share. Nucor’s revenue was up 29.6% on a year-over-year basis. Analysts anticipate that Nucor Co. will post $3.99 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 11th. Shareholders of record on Friday, March 31st will be given a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Wednesday, March 29th. Nucor’s dividend payout ratio is presently 65.94%.
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Several analysts have commented on the stock. BMO Capital Markets restated a “hold” rating on shares of Nucor in a report on Friday. Barclays PLC restated a “buy” rating and issued a $68.00 price objective on shares of Nucor in a report on Thursday. Jefferies Group LLC restated a “buy” rating on shares of Nucor in a report on Wednesday. Zacks Investment Research upgraded shares of Nucor from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a report on Tuesday, April 11th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Nucor from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, March 22nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $65.97.
In related news, insider Raymond S. Napolitan, Jr. sold 12,400 shares of Nucor stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $63.74, for a total value of $790,376.00. Following the completion of the transaction, the insider now owns 73,885 shares in the company, valued at $4,709,429.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James D. Frias sold 52,631 shares of Nucor stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $62.57, for a total transaction of $3,293,121.67. Following the completion of the transaction, the chief financial officer now owns 174,037 shares of the company’s stock, valued at approximately $10,889,495.09. The disclosure for this sale can be found here. 0.63% of the stock is owned by company insiders.
Nucor Company Profile
Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).
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