First Trust Advisors LP Has $21.36 Million Stake in Nucor Corporation (NUE)

First Trust Advisors LP increased its stake in Nucor Corporation (NYSE:NUE) by 44.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 381,095 shares of the basic materials company’s stock after acquiring an additional 117,488 shares during the period. First Trust Advisors LP owned approximately 0.12% of Nucor Corporation worth $21,357,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. raised its stake in shares of Nucor Corporation by 791.0% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,673 shares of the basic materials company’s stock valued at $150,000 after acquiring an additional 2,373 shares in the last quarter. Xact Kapitalforvaltning AB raised its stake in shares of Nucor Corporation by 3.4% in the third quarter. Xact Kapitalforvaltning AB now owns 26,056 shares of the basic materials company’s stock valued at $1,460,000 after acquiring an additional 845 shares in the last quarter. Personal Capital Advisors Corp raised its stake in shares of Nucor Corporation by 9.6% in the third quarter. Personal Capital Advisors Corp now owns 374,138 shares of the basic materials company’s stock valued at $20,967,000 after acquiring an additional 32,832 shares in the last quarter. Gilman Hill Asset Management LLC raised its stake in shares of Nucor Corporation by 134.8% in the third quarter. Gilman Hill Asset Management LLC now owns 9,100 shares of the basic materials company’s stock valued at $510,000 after acquiring an additional 5,225 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. raised its stake in shares of Nucor Corporation by 3.8% in the third quarter. Farmers & Merchants Investments Inc. now owns 82,457 shares of the basic materials company’s stock valued at $4,621,000 after acquiring an additional 2,982 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

In related news, insider D. Chad Utermark sold 9,003 shares of the firm’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $59.72, for a total transaction of $537,659.16. Following the transaction, the insider now owns 73,883 shares of the company’s stock, valued at $4,412,292.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman John J. Ferriola sold 15,131 shares of the firm’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $60.40, for a total value of $913,912.40. Following the transaction, the chairman now directly owns 349,506 shares in the company, valued at approximately $21,110,162.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,634 shares of company stock worth $1,589,472. Corporate insiders own 0.70% of the company’s stock.

Several analysts have recently issued reports on NUE shares. Berenberg Bank reiterated a “buy” rating and issued a $77.50 price objective on shares of Nucor Corporation in a research note on Wednesday, July 19th. Jefferies Group LLC reiterated a “buy” rating and issued a $68.00 price objective on shares of Nucor Corporation in a research note on Wednesday, July 19th. Morgan Stanley reiterated a “buy” rating on shares of Nucor Corporation in a research note on Tuesday, July 18th. Longbow Research reiterated a “buy” rating and issued a $66.00 price objective on shares of Nucor Corporation in a research note on Thursday, July 27th. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $73.00 price objective on shares of Nucor Corporation in a research note on Wednesday, September 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. Nucor Corporation has an average rating of “Hold” and a consensus price target of $67.32.

Nucor Corporation (NYSE:NUE) opened at $58.00 on Friday. The company has a quick ratio of 1.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $18.67 billion, a PE ratio of 17.19, a PEG ratio of 1.31 and a beta of 1.59.

Nucor Corporation (NYSE:NUE) last issued its quarterly earnings data on Thursday, October 19th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.01. The company had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.19 billion. Nucor Corporation had a return on equity of 12.77% and a net margin of 5.80%. The business’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.88 earnings per share. analysts predict that Nucor Corporation will post 3.72 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Thursday, September 28th. Nucor Corporation’s payout ratio is 43.90%.

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About Nucor Corporation

Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).

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Institutional Ownership by Quarter for Nucor Corporation (NYSE:NUE)

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