Security National Bank of Sioux City Iowa IA increased its holdings in shares of Nucor Co. (NYSE:NUE) by 5.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 22,670 shares of the basic materials company’s stock after purchasing an additional 1,073 shares during the period. Security National Bank of Sioux City Iowa IA’s holdings in Nucor were worth $1,270,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of NUE. Mckinley Capital Management LLC Delaware acquired a new stake in Nucor during the second quarter worth approximately $100,000. Krilogy Financial LLC lifted its position in Nucor by 4,594.6% during the second quarter. Krilogy Financial LLC now owns 1,737 shares of the basic materials company’s stock worth $101,000 after acquiring an additional 1,700 shares during the last quarter. Fiduciary Trust Co. acquired a new stake in Nucor during the second quarter worth approximately $109,000. Sun Life Financial INC lifted its position in Nucor by 23,290.0% during the second quarter. Sun Life Financial INC now owns 2,339 shares of the basic materials company’s stock worth $135,000 after acquiring an additional 2,329 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its position in Nucor by 791.0% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,673 shares of the basic materials company’s stock worth $150,000 after acquiring an additional 2,373 shares during the last quarter. Institutional investors and hedge funds own 74.55% of the company’s stock.
Several equities research analysts have issued reports on the stock. Cowen raised their price objective on shares of Nucor from $57.00 to $63.00 and gave the stock a “market perform” rating in a research report on Monday, October 23rd. KeyCorp restated a “hold” rating on shares of Nucor in a research report on Thursday, October 19th. Citigroup set a $66.00 price objective on shares of Nucor and gave the stock a “buy” rating in a research report on Friday, October 20th. Credit Suisse Group raised their price objective on shares of Nucor from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Friday, October 20th. Finally, Bank of America cut their price objective on shares of Nucor from $73.00 to $71.00 and set a “buy” rating for the company in a research report on Friday, October 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $66.80.
Nucor Co. (NYSE NUE) traded up $0.68 during midday trading on Wednesday, hitting $61.95. 4,733,500 shares of the stock were exchanged, compared to its average volume of 2,710,315. The company has a current ratio of 2.11, a quick ratio of 1.12 and a debt-to-equity ratio of 0.37. Nucor Co. has a 52 week low of $51.67 and a 52 week high of $66.00. The firm has a market capitalization of $19,478.76, a P/E ratio of 18.02, a price-to-earnings-growth ratio of 1.38 and a beta of 1.58.
Nucor (NYSE:NUE) last released its quarterly earnings results on Thursday, October 19th. The basic materials company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. Nucor had a net margin of 5.80% and a return on equity of 12.78%. The company had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the previous year, the business earned $0.88 earnings per share. The firm’s quarterly revenue was up 20.5% on a year-over-year basis. research analysts predict that Nucor Co. will post 3.69 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, December 29th will be given a dividend of $0.38 per share. This is an increase from Nucor’s previous quarterly dividend of $0.38. This represents a $1.52 annualized dividend and a yield of 2.45%. The ex-dividend date is Thursday, December 28th. Nucor’s payout ratio is currently 43.90%.
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Nucor Company Profile
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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