Kinneret Advisory LLC Purchases New Holdings in Nucor Co. (NUE)

Kinneret Advisory LLC purchased a new position in shares of Nucor Co. (NYSE:NUE) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 3,754 shares of the basic materials company’s stock, valued at approximately $196,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Nucor by 4.4% during the 3rd quarter. Vanguard Group Inc. now owns 28,321,567 shares of the basic materials company’s stock worth $1,797,003,000 after purchasing an additional 1,186,099 shares during the last quarter. Vanguard Group Inc lifted its holdings in Nucor by 4.4% during the 3rd quarter. Vanguard Group Inc now owns 28,321,567 shares of the basic materials company’s stock worth $1,797,003,000 after purchasing an additional 1,186,099 shares during the last quarter. BlackRock Inc. lifted its holdings in Nucor by 3.4% during the 4th quarter. BlackRock Inc. now owns 23,134,435 shares of the basic materials company’s stock worth $1,198,595,000 after purchasing an additional 764,927 shares during the last quarter. Northern Trust Corp lifted its holdings in Nucor by 3.7% during the 4th quarter. Northern Trust Corp now owns 5,465,392 shares of the basic materials company’s stock worth $283,162,000 after purchasing an additional 192,722 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Nucor by 10.1% during the 4th quarter. Bank of New York Mellon Corp now owns 5,454,562 shares of the basic materials company’s stock worth $282,600,000 after acquiring an additional 500,036 shares during the period. 75.10% of the stock is owned by institutional investors and hedge funds.

In other news, Chairman John J. Ferriola sold 87,719 shares of Nucor stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $60.35, for a total value of $5,293,841.65. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.80% of the company’s stock.



Nucor stock opened at $58.82 on Friday. Nucor Co. has a one year low of $49.79 and a one year high of $68.84. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.45 and a current ratio of 3.08. The firm has a market cap of $18.04 billion, a price-to-earnings ratio of 7.72, a P/E/G ratio of 0.84 and a beta of 1.51.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Tuesday, January 29th. The basic materials company reported $2.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.93 by $0.14. Nucor had a return on equity of 24.57% and a net margin of 9.42%. The company had revenue of $6.30 billion for the quarter, compared to analyst estimates of $6.29 billion. During the same quarter last year, the company posted $0.65 EPS. The company’s revenue for the quarter was up 23.6% compared to the same quarter last year. Equities research analysts expect that Nucor Co. will post 5.89 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, March 29th will be paid a $0.40 dividend. The ex-dividend date is Thursday, March 28th. This represents a $1.60 annualized dividend and a dividend yield of 2.72%. Nucor’s payout ratio is 21.00%.

NUE has been the topic of a number of recent research reports. KeyCorp restated a “buy” rating and set a $72.00 price objective on shares of Nucor in a research note on Friday, November 30th. UBS Group set a $59.00 price objective on Nucor and gave the stock a “hold” rating in a research note on Monday, December 10th. ValuEngine upgraded Nucor from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Longbow Research lowered Nucor from a “buy” rating to a “neutral” rating in a research note on Monday. Finally, Cowen initiated coverage on Nucor in a research note on Tuesday, January 8th. They set an “outperform” rating and a $62.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $71.45.

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Nucor 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; hollow structural section steel tubing, steel electrical conduit, plate steel, and structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, wire rods, and special bar quality; and tubular and plate steel products.

Further Reading: What is Call Option Volume?

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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