Nucor Co. (NUE) Shares Bought by Eaton Vance Management

Eaton Vance Management boosted its holdings in Nucor Co. (NYSE:NUE) by 0.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 377,065 shares of the basic materials company’s stock after purchasing an additional 414 shares during the quarter. Eaton Vance Management owned about 0.12% of Nucor worth $19,536,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of NUE. First Hawaiian Bank bought a new stake in shares of Nucor in the 3rd quarter valued at about $492,000. Aperio Group LLC increased its stake in shares of Nucor by 1.5% in the 3rd quarter. Aperio Group LLC now owns 104,347 shares of the basic materials company’s stock valued at $6,621,000 after acquiring an additional 1,511 shares during the last quarter. IFM Investors Pty Ltd increased its stake in shares of Nucor by 15.5% in the 3rd quarter. IFM Investors Pty Ltd now owns 16,613 shares of the basic materials company’s stock valued at $1,054,000 after acquiring an additional 2,224 shares during the last quarter. Fisher Asset Management LLC increased its stake in Nucor by 36.4% during the 3rd quarter. Fisher Asset Management LLC now owns 140,846 shares of the basic materials company’s stock worth $8,937,000 after purchasing an additional 37,609 shares in the last quarter. Finally, ARP Americas LP bought a new stake in Nucor during the 3rd quarter worth approximately $286,000. Institutional investors and hedge funds own 76.28% of the company’s stock.

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In other Nucor news, Chairman John J. Ferriola sold 87,719 shares of the company’s stock in a transaction that occurred on Thursday, January 31st. The stock was sold at an average price of $60.35, for a total transaction of $5,293,841.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.80% of the company’s stock.

NYSE:NUE opened at $61.19 on Friday. Nucor Co. has a twelve month low of $49.79 and a twelve month high of $69.79. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.08 and a quick ratio of 1.45. The company has a market cap of $19.21 billion, a price-to-earnings ratio of 8.03, a PEG ratio of 0.86 and a beta of 1.51.

Nucor (NYSE:NUE) last released its quarterly earnings results on Tuesday, January 29th. The basic materials company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.14. Nucor had a return on equity of 24.57% and a net margin of 9.42%. The firm had revenue of $6.30 billion during the quarter, compared to the consensus estimate of $6.29 billion. During the same quarter in the prior year, the firm posted $0.65 EPS. The business’s revenue was up 23.6% on a year-over-year basis. On average, sell-side analysts forecast that Nucor Co. will post 5.97 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, March 29th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend is Thursday, March 28th. Nucor’s dividend payout ratio (DPR) is currently 21.00%.

A number of analysts recently issued reports on NUE shares. KeyCorp reissued a “buy” rating and set a $72.00 target price on shares of Nucor in a research note on Friday, November 30th. UBS Group set a $59.00 target price on Nucor and gave the stock a “hold” rating in a research note on Monday, December 10th. ValuEngine raised Nucor from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Cowen started coverage on Nucor in a research note on Tuesday, January 8th. They set an “outperform” rating and a $62.00 target price for the company. Finally, Credit Suisse Group raised Nucor from a “neutral” rating to an “outperform” rating in a research note on Tuesday, January 8th. Two 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 presently has an average rating of “Buy” and a consensus price target of $71.45.

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Nucor Company 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.

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