Nucor Co. (NYSE:NUE) Stock Position Decreased by IFM Investors Pty Ltd

IFM Investors Pty Ltd decreased its stake in shares of Nucor Co. (NYSE:NUE) by 1.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 49,552 shares of the basic materials company’s stock after selling 570 shares during the period. IFM Investors Pty Ltd’s holdings in Nucor were worth $7,450,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in NUE. McClarren Financial Advisors Inc. increased its holdings in shares of Nucor by 129.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 89 shares during the last quarter. Chilton Capital Management LLC increased its holdings in shares of Nucor by 94.2% during the 1st quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 65 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Nucor during the 1st quarter valued at about $28,000. Brown Lisle Cummings Inc. acquired a new position in shares of Nucor during the 3rd quarter valued at about $30,000. Finally, Salomon & Ludwin LLC acquired a new position in shares of Nucor during the 1st quarter valued at about $31,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Stock Performance

NUE opened at $141.47 on Friday. Nucor Co. has a 12-month low of $133.42 and a 12-month high of $203.00. The firm has a market capitalization of $33.58 billion, a P/E ratio of 13.67 and a beta of 1.55. The stock’s 50 day moving average price is $147.73 and its two-hundred day moving average price is $159.27. The company has a quick ratio of 1.85, a current ratio of 2.59 and a debt-to-equity ratio of 0.26.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.09. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The company had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.28 billion. During the same quarter last year, the firm earned $4.57 EPS. Nucor’s revenue for the quarter was down 15.2% compared to the same quarter last year. On average, equities analysts forecast that Nucor Co. will post 9.08 earnings per share for the current year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Friday, September 27th. Nucor’s payout ratio is presently 20.87%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NUE shares. Argus raised Nucor to a “strong-buy” rating in a report on Monday, August 26th. BMO Capital Markets lowered their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday, September 18th. JPMorgan Chase & Co. lowered their target price on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Morgan Stanley lowered their target price on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a report on Wednesday. Three research 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 company’s stock. Based on data from MarketBeat, Nucor has an average rating of “Moderate Buy” and a consensus target price of $190.57.

Insider Transactions at Nucor

In other 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 transaction of $1,379,840.00. Following the sale, the executive vice president now owns 99,049 shares of the company’s stock, valued at approximately $15,847,840. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is owned by insiders.

Nucor Company Profile

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.