Huntington National Bank lessened its holdings in Nucor Co. (NYSE:NUE) by 21.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,862 shares of the basic materials company’s stock after selling 17,247 shares during the period. Huntington National Bank’s holdings in Nucor were worth $2,644,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of NUE. Marshall Wace North America L.P. acquired a new stake in shares of Nucor in the first quarter worth $54,000. FMR LLC boosted its position in Nucor by 123.0% during the first quarter. FMR LLC now owns 674,154 shares of the basic materials company’s stock valued at $39,337,000 after purchasing an additional 371,876 shares during the last quarter. Guggenheim Capital LLC boosted its position in Nucor by 16.7% during the fourth quarter. Guggenheim Capital LLC now owns 319,334 shares of the basic materials company’s stock valued at $17,972,000 after purchasing an additional 45,796 shares during the last quarter. Janus Henderson Group PLC boosted its position in Nucor by 199.9% during the fourth quarter. Janus Henderson Group PLC now owns 294,178 shares of the basic materials company’s stock valued at $16,554,000 after purchasing an additional 196,081 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its position in Nucor by 2,031.8% during the fourth quarter. Macquarie Group Ltd. now owns 134,347 shares of the basic materials company’s stock valued at $7,562,000 after purchasing an additional 128,045 shares during the last quarter. 75.06% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Leon J. Topalian sold 9,389 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $43.18, for a total transaction of $405,417.02. Following the transaction, the chief executive officer now directly owns 118,090 shares in the company, valued at $5,099,126.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Allen C. Behr sold 2,076 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $42.56, for a total value of $88,354.56. Following the transaction, the executive vice president now owns 47,579 shares in the company, valued at $2,024,962.24. The disclosure for this sale can be found here. Insiders own 1.39% of the company’s stock.
Nucor stock opened at $41.95 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.68 and a current ratio of 4.39. The business’s 50-day simple moving average is $41.60 and its 200-day simple moving average is $41.88. The firm has a market capitalization of $12.63 billion, a PE ratio of 24.97, a PEG ratio of 1.66 and a beta of 1.43. Nucor Co. has a 52 week low of $27.52 and a 52 week high of $58.70.
Nucor (NYSE:NUE) last posted its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.22. The business had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.43 billion. Nucor had a return on equity of 7.95% and a net margin of 2.49%. The firm’s revenue for the quarter was down 26.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.26 earnings per share. Research analysts forecast that Nucor Co. will post 2.1 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th will be paid a $0.4025 dividend. The ex-dividend date of this dividend is Monday, June 29th. This represents a $1.61 dividend on an annualized basis and a dividend yield of 3.84%. Nucor’s payout ratio is presently 37.35%.
A number of research firms recently issued reports on NUE. BMO Capital Markets lifted their price objective on Nucor from $42.00 to $46.00 and gave the company a “market perform” rating in a research report on Friday, June 19th. They noted that the move was a valuation call. UBS Group reduced their price objective on Nucor from $56.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, May 14th. Credit Suisse Group cut Nucor from an “outperform” rating to a “neutral” rating in a research report on Wednesday, April 15th. JPMorgan Chase & Co. reduced their price objective on Nucor from $57.00 to $42.00 and set an “overweight” rating for the company in a research report on Friday, April 17th. Finally, KeyCorp boosted their price target on Nucor from $45.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $50.17.
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; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
Read More: What is a CD ladder?
Receive News & Ratings for Nucor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor and related companies with MarketBeat.com's FREE daily email newsletter.