The Manufacturers Life Insurance Company Grows Position in Nucor Co. (NYSE:NUE)

The Manufacturers Life Insurance Company boosted its stake in Nucor Co. (NYSE:NUE) by 2.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 162,262 shares of the basic materials company’s stock after buying an additional 3,209 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.07% of Nucor worth $25,650,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. McClarren Financial Advisors Inc. lifted its holdings in shares of Nucor by 129.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 89 shares during the last quarter. Rise Advisors LLC acquired a new position in Nucor during the first quarter worth $27,000. Chilton Capital Management LLC boosted its position in shares of Nucor by 94.2% during the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock worth $27,000 after buying an additional 65 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of Nucor in the first quarter valued at $28,000. Finally, Tompkins Financial Corp raised its holdings in shares of Nucor by 208.0% in the 1st quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after buying an additional 104 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised Nucor from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $170.00 to $174.00 in a research report on Monday, September 9th. BMO Capital Markets dropped their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. Argus upgraded shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. Bank of America decreased their price target on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. Finally, Morgan Stanley reduced their price objective on Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $192.00.

Insider Buying and Selling at Nucor

In other news, EVP Daniel R. Needham sold 8,624 shares of Nucor stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the sale, the executive vice president now owns 99,049 shares in the company, valued at $15,847,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is currently owned by insiders.

Nucor Stock Up 0.1 %

Shares of NYSE NUE opened at $150.35 on Tuesday. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00. The company has a market capitalization of $36.05 billion, a price-to-earnings ratio of 8.84 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85. The business has a 50-day moving average of $147.88 and a two-hundred day moving average of $164.42.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.37. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The firm had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $7.69 billion. During the same period in the prior year, the company posted $5.81 earnings per share. The firm’s quarterly revenue was down 15.2% compared to the same quarter last year. On average, analysts forecast that Nucor Co. will post 9.28 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be given a $0.54 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.44%. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

Nucor Company Profile

Nucor Corporation engages in manufacture and sale of steel and steel products. 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 structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.