Robeco Institutional Asset Management B.V. trimmed its holdings in Nucor Co. (NYSE:NUE - Free Report) by 55.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 155,784 shares of the basic materials company's stock after selling 194,620 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.07% of Nucor worth $23,421,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in the business. McClarren Financial Advisors Inc. boosted its stake in Nucor by 129.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company's stock worth $25,000 after purchasing an additional 89 shares during the period. Chilton Capital Management LLC boosted its stake in Nucor by 94.2% during the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company's stock valued at $27,000 after buying an additional 65 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in Nucor in the 1st quarter worth approximately $28,000. Brown Lisle Cummings Inc. purchased a new stake in shares of Nucor during the 3rd quarter worth approximately $30,000. Finally, Salomon & Ludwin LLC boosted its position in shares of Nucor by 45.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company's stock valued at $35,000 after acquiring an additional 72 shares during the last quarter. Institutional investors own 76.48% of the company's stock.
In other Nucor news, EVP Kenneth Rex Query sold 9,000 shares of the business's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the completion of the sale, the executive vice president now directly owns 98,770 shares of the company's stock, valued at $14,499,436. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.64% of the stock is currently owned by insiders.
NUE has been the topic of a number of recent research reports. BMO Capital Markets decreased their price target on shares of Nucor from $175.00 to $160.00 and set a "market perform" rating on the stock in a research note on Wednesday, September 18th. JPMorgan Chase & Co. decreased their target price on shares of Nucor from $170.00 to $168.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. Morgan Stanley dropped their price target on Nucor from $170.00 to $166.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Finally, Argus upgraded Nucor to a "strong-buy" rating in a research report on Monday, August 26th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $190.57.
Read Our Latest Stock Report on Nucor
Shares of NYSE NUE opened at $144.61 on Wednesday. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00. The firm has a 50-day simple moving average of $147.29 and a two-hundred day simple moving average of $155.87. The company has a market cap of $34.32 billion, a P/E ratio of 13.97 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61.
Nucor (NYSE:NUE - Get Free Report) last issued its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.40 by $0.09. The firm had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. Nucor's quarterly revenue was down 15.2% compared to the same quarter last year. During the same period last year, the company earned $4.57 EPS. Research analysts anticipate that Nucor Co. will post 8.65 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Friday, September 27th. Nucor's payout ratio is presently 20.87%.
Nucor Corporation engages in manufacture and sale of steel and steel products. 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; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.
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