Putnam FL Investment Management Co. Acquires Shares of 83,991 Nucor Corporation (NUE)

Putnam FL Investment Management Co. acquired a new stake in Nucor Corporation (NYSE:NUE) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 83,991 shares of the basic materials company’s stock, valued at approximately $4,707,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Nucor Corporation by 1.3% in the second quarter. Vanguard Group Inc. now owns 25,573,754 shares of the basic materials company’s stock valued at $1,479,954,000 after purchasing an additional 319,596 shares in the last quarter. Northern Trust Corp raised its stake in Nucor Corporation by 15.0% in the second quarter. Northern Trust Corp now owns 5,759,017 shares of the basic materials company’s stock valued at $333,275,000 after purchasing an additional 750,796 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Nucor Corporation by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,471,347 shares of the basic materials company’s stock valued at $258,776,000 after purchasing an additional 352,694 shares in the last quarter. Prudential PLC raised its stake in Nucor Corporation by 28.2% in the second quarter. Prudential PLC now owns 2,260,300 shares of the basic materials company’s stock valued at $130,804,000 after purchasing an additional 496,700 shares in the last quarter. Finally, Boston Partners raised its stake in Nucor Corporation by 3.7% in the third quarter. Boston Partners now owns 1,961,046 shares of the basic materials company’s stock valued at $109,897,000 after purchasing an additional 70,358 shares in the last quarter. Institutional investors own 74.59% of the company’s stock.

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Shares of Nucor Corporation (NYSE:NUE) traded up $0.08 during trading on Thursday, hitting $54.94. 2,428,600 shares of the stock traded hands, compared to its average volume of 2,701,419. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.11 and a quick ratio of 1.12. Nucor Corporation has a 1 year low of $51.67 and a 1 year high of $68.00. The company has a market capitalization of $17,390.00, a PE ratio of 16.14, a price-to-earnings-growth ratio of 1.24 and a beta of 1.59.

Nucor Corporation (NYSE:NUE) last issued its earnings results on Thursday, October 19th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.01. Nucor Corporation had a net margin of 5.80% and a return on equity of 12.78%. The firm had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter last year, the business earned $0.88 earnings per share. The business’s revenue was up 20.5% on a year-over-year basis. analysts forecast that Nucor Corporation will post 3.7 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Friday, September 29th were issued a $0.3775 dividend. This represents a $1.51 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend was Thursday, September 28th. Nucor Corporation’s dividend payout ratio is 42.06%.

A number of equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Nucor Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Longbow Research reaffirmed a “buy” rating and issued a $66.00 target price on shares of Nucor Corporation in a research note on Thursday, July 27th. Credit Suisse Group lowered their target price on shares of Nucor Corporation from $68.00 to $63.00 and set a “buy” rating on the stock in a research note on Thursday, September 28th. Bank of America Corporation lowered their target price on shares of Nucor Corporation from $73.00 to $71.00 and set a “buy” rating on the stock in a research note on Friday, October 20th. Finally, ValuEngine downgraded shares of Nucor Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $67.32.

In other news, Director Victoria F. Haynes sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $55.16, for a total value of $137,900.00. Following the transaction, the director now owns 33,573 shares in the company, valued at $1,851,886.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider D. Chad Utermark sold 9,003 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $59.72, for a total transaction of $537,659.16. Following the completion of the transaction, the insider now owns 73,883 shares in the company, valued at approximately $4,412,292.76. The disclosure for this sale can be found here. Insiders sold 44,217 shares of company stock worth $2,608,231 in the last 90 days. Company insiders own 0.70% of the company’s stock.

Nucor Corporation Company Profile

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).

Institutional Ownership by Quarter for Nucor Corporation (NYSE:NUE)

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