Assenagon Asset Management S.A. Sells 300 Shares of Nucor Co. (NYSE:NUE)

Assenagon Asset Management S.A. cut its position in shares of Nucor Co. (NYSE:NUE) by 2.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,900 shares of the basic materials company’s stock after selling 300 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Nucor were worth $555,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Nucor by 19.6% during the 2nd quarter. Vanguard Group Inc. now owns 33,816,254 shares of the basic materials company’s stock worth $1,863,276,000 after acquiring an additional 5,547,683 shares during the last quarter. Nuveen Asset Management LLC grew its position in Nucor by 363.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,139,227 shares of the basic materials company’s stock worth $117,872,000 after acquiring an additional 1,677,330 shares during the last quarter. Prudential PLC grew its position in Nucor by 3.8% during the 2nd quarter. Prudential PLC now owns 1,967,900 shares of the basic materials company’s stock worth $108,431,000 after acquiring an additional 72,000 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its position in Nucor by 1.7% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 1,688,752 shares of the basic materials company’s stock worth $93,049,000 after acquiring an additional 28,994 shares during the last quarter. Finally, Invesco Ltd. grew its position in Nucor by 31.9% during the 2nd quarter. Invesco Ltd. now owns 1,623,635 shares of the basic materials company’s stock worth $89,462,000 after acquiring an additional 392,215 shares during the last quarter. Hedge funds and other institutional investors own 77.51% of the company’s stock.

NYSE NUE opened at $53.14 on Wednesday. Nucor Co. has a fifty-two week low of $46.10 and a fifty-two week high of $64.48. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.76 and a current ratio of 3.56. The stock has a 50 day simple moving average of $51.28 and a two-hundred day simple moving average of $53.14. The stock has a market cap of $15.67 billion, a P/E ratio of 6.97, a price-to-earnings-growth ratio of 0.99 and a beta of 1.63.

Nucor (NYSE:NUE) last released its quarterly earnings data on Tuesday, October 22nd. The basic materials company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.10. Nucor had a return on equity of 21.65% and a net margin of 8.84%. The business had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter last year, the business posted $2.33 EPS. The business’s revenue was down 19.0% on a year-over-year basis. Sell-side analysts predict that Nucor Co. will post 4.34 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.01%. The ex-dividend date is Thursday, September 26th. Nucor’s dividend payout ratio (DPR) is currently 21.00%.

NUE has been the topic of several recent research reports. Credit Suisse Group set a $61.00 price target on Nucor and gave the stock a “buy” rating in a research report on Friday, July 19th. KeyCorp reduced their price target on Nucor from $61.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 27th. ValuEngine upgraded Nucor from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Bank of America reduced their price target on Nucor from $50.00 to $46.00 and set an “underperform” rating on the stock in a research report on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. Nucor has a consensus rating of “Hold” and an average price target of $58.14.

Nucor Company Profile

Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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