Sei Investments Co. Grows Position in Nucor Co. (NYSE:NUE)

Sei Investments Co. lifted its position in shares of Nucor Co. (NYSE:NUE) by 91.4% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 55,770 shares of the basic materials company’s stock after purchasing an additional 26,638 shares during the quarter. Sei Investments Co.’s holdings in Nucor were worth $8,816,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in shares of Nucor by 2.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,909,388 shares of the basic materials company’s stock worth $617,915,000 after acquiring an additional 84,558 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Nucor by 29.7% during the second quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock worth $456,030,000 after purchasing an additional 660,866 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Nucor by 6.7% in the fourth quarter. First Trust Advisors LP now owns 1,367,209 shares of the basic materials company’s stock worth $237,949,000 after buying an additional 85,475 shares during the period. Nordea Investment Management AB raised its holdings in shares of Nucor by 6.5% during the 1st quarter. Nordea Investment Management AB now owns 1,165,094 shares of the basic materials company’s stock valued at $230,572,000 after buying an additional 70,917 shares during the period. Finally, Hsbc Holdings PLC lifted its position in Nucor by 11.6% during the 2nd quarter. Hsbc Holdings PLC now owns 1,069,920 shares of the basic materials company’s stock worth $169,433,000 after acquiring an additional 111,177 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Wall Street Analysts Forecast Growth

NUE has been the topic of a number of analyst reports. Morgan Stanley dropped their price objective on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 18th. Bank of America decreased their price objective on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. JPMorgan Chase & Co. upgraded Nucor from a “neutral” rating to an “overweight” rating and raised their target price for the company from $170.00 to $174.00 in a research note on Monday, September 9th. BMO Capital Markets cut their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 18th. Finally, Argus upgraded Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $192.00.

Insider Transactions at Nucor

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of Nucor stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total value of $1,379,840.00. Following the completion of the transaction, the executive vice president now directly owns 99,049 shares in the company, valued at $15,847,840. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.46% of the company’s stock.

Nucor Stock Up 0.1 %

NYSE:NUE opened at $150.13 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.85 and a current ratio of 2.93. The company has a market capitalization of $36.00 billion, a price-to-earnings ratio of 8.83 and a beta of 1.55. Nucor Co. has a one year low of $133.42 and a one year high of $203.00. The stock has a 50-day simple moving average of $148.14 and a 200 day simple moving average of $164.91.

Nucor (NYSE:NUE) last issued its earnings results on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, topping the consensus estimate of $2.31 by $0.37. The company had revenue of $8.08 billion during the quarter, compared to analyst estimates of $7.69 billion. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The business’s revenue was down 15.2% on a year-over-year basis. During the same quarter last year, the firm earned $5.81 EPS. Sell-side analysts predict that Nucor Co. will post 9.28 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.44%. Nucor’s dividend payout ratio (DPR) is 12.71%.

About Nucor

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.