King Luther Capital Management Corp Has $1.59 Million Position in Nucor Co. (NYSE:NUE)

King Luther Capital Management Corp boosted its position in shares of Nucor Co. (NYSE:NUE) by 3.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,031 shares of the basic materials company’s stock after buying an additional 311 shares during the quarter. King Luther Capital Management Corp’s holdings in Nucor were worth $1,586,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in shares of Nucor by 2.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,909,388 shares of the basic materials company’s stock valued at $617,915,000 after acquiring an additional 84,558 shares during the period. First Trust Advisors LP raised its holdings in Nucor by 6.7% during the 4th quarter. First Trust Advisors LP now owns 1,367,209 shares of the basic materials company’s stock worth $237,949,000 after purchasing an additional 85,475 shares during the last quarter. Nordea Investment Management AB lifted its position in 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 purchasing an additional 70,917 shares during the period. Hsbc Holdings PLC boosted its stake in shares of Nucor by 11.6% in the 2nd quarter. Hsbc Holdings PLC now owns 1,069,920 shares of the basic materials company’s stock valued at $169,433,000 after purchasing an additional 111,177 shares during the last quarter. Finally, Captrust Financial Advisors grew its position in shares of Nucor by 23.5% during the 1st quarter. Captrust Financial Advisors now owns 804,150 shares of the basic materials company’s stock worth $159,141,000 after buying an additional 153,077 shares during the period. 76.48% of the stock is currently owned by institutional investors.

Nucor Stock Down 1.8 %

NYSE:NUE opened at $146.31 on Friday. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00. The stock has a 50-day moving average price of $149.66 and a two-hundred day moving average price of $166.02. The stock has a market cap of $35.08 billion, a price-to-earnings ratio of 8.61 and a beta of 1.55. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.37. The business 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%. Nucor’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.81 EPS. As a group, equities analysts expect that Nucor Co. will post 9.95 earnings per share for the current year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be issued a dividend of $0.54 per share. The ex-dividend date is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.48%. Nucor’s payout ratio is 12.71%.

Analyst Ratings Changes

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

Insider Activity at Nucor

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the completion of the transaction, the executive vice president now owns 99,049 shares in the company, valued at approximately $15,847,840. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.46% of the stock is currently owned by insiders.

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.