Solaris Asset Management LLC reduced its holdings in shares of Nucor Co. (NYSE:NUE) by 37.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,383 shares of the basic materials company’s stock after selling 22,417 shares during the quarter. Nucor makes up approximately 1.3% of Solaris Asset Management LLC’s holdings, making the stock its 27th biggest position. Solaris Asset Management LLC’s holdings in Nucor were worth $2,377,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of NUE. Vanguard Group Inc. boosted its holdings in shares of Nucor by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 25,573,754 shares of the basic materials company’s stock valued at $1,479,954,000 after buying an additional 319,596 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of 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 buying an additional 750,796 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Nucor by 3.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,621,566 shares of the basic materials company’s stock valued at $258,974,000 after buying an additional 150,219 shares during the last quarter. Prudential PLC boosted its holdings in shares of 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 buying an additional 496,700 shares during the last quarter. Finally, Boston Partners boosted its holdings in shares of Nucor by 3.7% in the 3rd quarter. Boston Partners now owns 1,961,046 shares of the basic materials company’s stock valued at $109,897,000 after buying an additional 70,358 shares during the last quarter. 74.34% of the stock is owned by institutional investors.
In other news, insider Ladd R. Hall sold 17,583 shares of Nucor stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $57.94, for a total transaction of $1,018,759.02. Following the completion of the sale, the insider now owns 206,406 shares of the company’s stock, valued at $11,959,163.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert J. Stratman sold 39,037 shares of Nucor stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $63.88, for a total value of $2,493,683.56. Following the sale, the executive vice president now directly owns 233,824 shares of the company’s stock, valued at approximately $14,936,677.12. The disclosure for this sale can be found here. Insiders have sold 80,754 shares of company stock valued at $4,964,014 in the last three months. Insiders own 0.70% of the company’s stock.
Nucor (NYSE:NUE) last announced its quarterly earnings results on Thursday, October 19th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.01. Nucor had a return on equity of 12.78% and a net margin of 5.80%. The business had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter last year, the firm posted $0.88 EPS. The company’s quarterly revenue was up 20.5% on a year-over-year basis. sell-side analysts expect that Nucor Co. will post 3.54 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.20%. This is an increase from Nucor’s previous quarterly dividend of $0.38. Nucor’s dividend payout ratio (DPR) is currently 42.34%.
Several research firms have recently commented on NUE. Jefferies Group reissued a “buy” rating and issued a $77.00 price objective on shares of Nucor in a report on Tuesday, January 9th. Zacks Investment Research raised Nucor from a “sell” rating to a “hold” rating and set a $76.00 price objective for the company in a report on Monday, January 8th. Bank of America set a $75.00 price objective on Nucor and gave the company a “buy” rating in a report on Monday, January 8th. ValuEngine raised Nucor from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Longbow Research raised Nucor from a “neutral” rating to a “buy” rating in a report on Wednesday, December 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $68.37.
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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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