Seeyond reduced its position in Nucor Co. (NYSE:NUE) by 8.5% in the second quarter, Holdings Channel.com reports. The fund owned 16,735 shares of the basic materials company’s stock after selling 1,556 shares during the quarter. Seeyond’s holdings in Nucor were worth $922,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in NUE. Coastal Investment Advisors Inc. lifted its position in Nucor by 79.9% during the second quarter. Coastal Investment Advisors Inc. now owns 556 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 247 shares during the last quarter. Berman Capital Advisors LLC lifted its position in Nucor by 37.9% during the first quarter. Berman Capital Advisors LLC now owns 677 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 186 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its position in Nucor by 300.0% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 800 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 600 shares during the last quarter. TRUE Private Wealth Advisors bought a new stake in Nucor during the second quarter valued at approximately $44,000. Finally, Strategy Asset Managers LLC bought a new stake in Nucor during the first quarter valued at approximately $48,000. Institutional investors own 77.35% of the company’s stock.
Shares of NUE stock traded up $0.69 during trading hours on Friday, hitting $54.38. 722,116 shares of the company’s stock were exchanged, compared to its average volume of 1,662,531. The company has a market capitalization of $16.37 billion, a PE ratio of 7.14, a PEG ratio of 0.91 and a beta of 1.62. Nucor Co. has a 12-month low of $46.10 and a 12-month high of $66.03. The business’s 50 day simple moving average is $50.80 and its 200-day simple moving average is $54.65. The company has a current ratio of 3.56, a quick ratio of 1.76 and a debt-to-equity ratio of 0.40.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Thursday, September 26th. Nucor’s dividend payout ratio (DPR) is presently 21.00%.
In other Nucor news, insider Raymond S. Napolitan, Jr. sold 7,214 shares of Nucor stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $56.32, for a total transaction of $406,292.48. Following the transaction, the insider now directly owns 143,826 shares of the company’s stock, valued at $8,100,280.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman John J. Ferriola sold 19,193 shares of Nucor stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $56.37, for a total transaction of $1,081,909.41. Following the transaction, the chairman now directly owns 475,921 shares in the company, valued at $26,827,666.77. The disclosure for this sale can be found here. Insiders have sold 61,203 shares of company stock worth $3,465,601 over the last three months. Insiders own 0.96% of the company’s stock.
Several equities research analysts have issued reports on NUE shares. Credit Suisse Group set a $61.00 target price on shares of Nucor and gave the company a “buy” rating in a research report on Friday, July 19th. Goldman Sachs Group dropped their target price on shares of Nucor from $70.00 to $59.00 and set a “buy” rating for the company in a research report on Tuesday, June 4th. ValuEngine lowered shares of Nucor from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Deutsche Bank lowered shares of Nucor from a “buy” rating to a “hold” rating in a research report on Thursday, May 30th. Finally, Citigroup set a $60.00 target price on shares of Nucor and gave the company a “buy” rating in a research report on Tuesday, June 11th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $62.40.
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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