Berkshire Asset Management LLC PA Grows Holdings in Nucor Co. (NUE)

Berkshire Asset Management LLC PA raised its position in Nucor Co. (NYSE:NUE) by 10.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 255,441 shares of the basic materials company’s stock after acquiring an additional 25,033 shares during the period. Nucor comprises 1.6% of Berkshire Asset Management LLC PA’s portfolio, making the stock its 26th biggest position. Berkshire Asset Management LLC PA’s holdings in Nucor were worth $16,241,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NUE. CI Investments Inc. bought a new stake in Nucor in the 3rd quarter valued at approximately $55,250,000. Northern Trust Corp lifted its stake in Nucor by 15.0% in the 2nd quarter. Northern Trust Corp now owns 5,759,017 shares of the basic materials company’s stock valued at $333,275,000 after acquiring an additional 750,796 shares in the last quarter. Balyasny Asset Management LLC lifted its stake in Nucor by 55.4% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,471,244 shares of the basic materials company’s stock valued at $85,141,000 after acquiring an additional 524,476 shares in the last quarter. Prudential PLC lifted its stake in Nucor by 28.2% in the 2nd quarter. Prudential PLC now owns 2,260,300 shares of the basic materials company’s stock valued at $130,804,000 after acquiring an additional 496,700 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in Nucor by 384.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 509,772 shares of the basic materials company’s stock valued at $28,568,000 after acquiring an additional 404,622 shares in the last quarter. Hedge funds and other institutional investors own 74.34% of the company’s stock.

Nucor Co. (NYSE NUE) traded up $0.31 during mid-day trading on Wednesday, hitting $69.26. The company had a trading volume of 1,950,000 shares, compared to its average volume of 3,240,000. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.11 and a quick ratio of 1.12. The firm has a market cap of $22,020.00, a price-to-earnings ratio of 19.29, a PEG ratio of 1.21 and a beta of 1.58. Nucor Co. has a 1-year low of $51.67 and a 1-year high of $70.48.

Nucor (NYSE:NUE) last posted its earnings results on Thursday, October 19th. The basic materials company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. The business had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.19 billion. Nucor had a return on equity of 12.78% and a net margin of 5.80%. The firm’s revenue was up 20.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.88 EPS. research analysts predict that Nucor Co. will post 3.54 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, December 29th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, December 28th. This is a positive change from Nucor’s previous quarterly dividend of $0.38. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.19%. Nucor’s payout ratio is presently 42.34%.

Several equities research analysts have commented on NUE shares. KeyCorp restated a “hold” rating on shares of Nucor in a research note on Tuesday, September 19th. Zacks Investment Research cut Nucor from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 26th. Credit Suisse Group dropped their price objective on Nucor from $68.00 to $63.00 and set a “buy” rating on the stock in a research note on Thursday, September 28th. Longbow Research cut Nucor from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $55.01 to $56.04 in a research note on Monday, October 2nd. Finally, Jefferies Group reiterated a “buy” rating and set a $68.00 price objective on shares of Nucor in a research note on Friday, October 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $68.37.

In related news, EVP Robert J. Stratman sold 39,037 shares of the business’s stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $63.88, for a total transaction of $2,493,683.56. Following the transaction, the executive vice president now directly owns 233,824 shares of the company’s stock, valued at approximately $14,936,677.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ladd R. Hall sold 17,583 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $57.94, for a total value of $1,018,759.02. Following the transaction, the insider now directly owns 206,406 shares in the company, valued at $11,959,163.64. The disclosure for this sale can be found here. Insiders have sold a total of 80,754 shares of company stock worth $4,964,014 over the last three months. 0.70% of the stock is owned by insiders.

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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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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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