Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in Nucor Co. (NYSE:NUE) by 42.1% during the first quarter, HoldingsChannel reports. The firm owned 92,315 shares of the basic materials company’s stock after buying an additional 27,363 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Nucor were worth $5,387,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Nucor by 7.2% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 42,939 shares of the basic materials company’s stock valued at $2,505,000 after purchasing an additional 2,880 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its stake in shares of Nucor by 8.4% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 90,410 shares of the basic materials company’s stock valued at $5,275,000 after purchasing an additional 7,008 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Nucor by 4.3% in the 1st quarter. Daiwa Securities Group Inc. now owns 12,030 shares of the basic materials company’s stock valued at $702,000 after purchasing an additional 500 shares in the last quarter. World Asset Management Inc boosted its stake in shares of Nucor by 12.4% in the 1st quarter. World Asset Management Inc now owns 24,967 shares of the basic materials company’s stock valued at $1,457,000 after purchasing an additional 2,746 shares in the last quarter. Finally, Adams Natural Resources Fund Inc. boosted its stake in shares of Nucor by 134.5% in the 1st quarter. Adams Natural Resources Fund Inc. now owns 90,500 shares of the basic materials company’s stock valued at $5,281,000 after purchasing an additional 51,900 shares in the last quarter. Institutional investors own 78.81% of the company’s stock.
Several equities research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Nucor from a “hold” rating to a “strong sell” rating in a research report on Friday, February 1st. Longbow Research downgraded shares of Nucor from a “buy” rating to a “neutral” rating in a research report on Monday, March 11th. ValuEngine downgraded shares of Nucor from a “hold” rating to a “sell” rating in a research report on Thursday, February 14th. Credit Suisse Group upgraded shares of Nucor from a “neutral” rating to an “outperform” rating in a research report on Tuesday, January 8th. Finally, Cowen assumed coverage on shares of Nucor in a research report on Tuesday, January 8th. They set an “outperform” rating and a $62.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $70.56.
Nucor (NYSE:NUE) last issued its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $1.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.50 by $0.05. The firm had revenue of $6.10 billion for the quarter, compared to the consensus estimate of $6.05 billion. Nucor had a net margin of 9.80% and a return on equity of 24.86%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.17 EPS. On average, equities research analysts expect that Nucor Co. will post 5.75 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, March 29th will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.86%. Nucor’s dividend payout ratio (DPR) is currently 21.00%.
In other news, EVP Leon J. Topalian sold 1,253 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $56.99, for a total value of $71,408.47. Following the transaction, the executive vice president now owns 46,593 shares in the company, valued at approximately $2,655,335.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Raymond S. Napolitan, Jr. sold 10,000 shares of Nucor stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $58.28, for a total transaction of $582,800.00. Following the completion of the sale, the insider now owns 96,778 shares of the company’s stock, valued at approximately $5,640,221.84. The disclosure for this sale can be found here. Insiders sold a total of 76,314 shares of company stock worth $4,310,637 in the last 90 days. Corporate insiders own 0.96% of the company’s stock.
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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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