Bank of New York Mellon Corp lowered its position in Nucor Corp. (NYSE:NUE) by 3.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,718,161 shares of the company’s stock after selling 197,974 shares during the period. Bank of New York Mellon Corp’s holdings in Nucor Corp. were worth $282,764,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in NUE. Acadian Asset Management LLC boosted its position in Nucor Corp. by 759.7% in the second quarter. Acadian Asset Management LLC now owns 478,296 shares of the company’s stock worth $23,633,000 after buying an additional 422,661 shares in the last quarter. Rainier Investment Management LLC boosted its position in Nucor Corp. by 31.4% in the second quarter. Rainier Investment Management LLC now owns 223,510 shares of the company’s stock worth $11,044,000 after buying an additional 53,460 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in Nucor Corp. by 29.0% in the third quarter. BNP Paribas Arbitrage SA now owns 208,674 shares of the company’s stock worth $10,319,000 after buying an additional 46,947 shares in the last quarter. Retirement Systems of Alabama boosted its position in Nucor Corp. by 98.2% in the second quarter. Retirement Systems of Alabama now owns 516,759 shares of the company’s stock worth $25,533,000 after buying an additional 256,096 shares in the last quarter. Finally, Community Bank N.A. boosted its position in Nucor Corp. by 0.6% in the third quarter. Community Bank N.A. now owns 51,133 shares of the company’s stock worth $2,528,000 after buying an additional 300 shares in the last quarter. 76.77% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Nucor Corp. (NYSE:NUE)

Nucor Corp. (NYSE:NUE) opened at 61.63 on Wednesday. Nucor Corp. has a 1-year low of $33.90 and a 1-year high of $62.90. The stock has a market cap of $19.63 billion, a price-to-earnings ratio of 38.66 and a beta of 1.38. The stock has a 50 day moving average of $52.56 and a 200 day moving average of $50.70.

Nucor Corp. (NYSE:NUE) last released its quarterly earnings data on Thursday, October 20th. The company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.90 by $0.06. Nucor Corp. had a return on equity of 9.27% and a net margin of 3.26%. The business earned $4.29 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the prior year, the firm earned $0.71 earnings per share. Nucor Corp.’s quarterly revenue was up 1.5% on a year-over-year basis. Equities analysts expect that Nucor Corp. will post $2.34 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Friday, September 30th were given a $0.375 dividend. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $1.50 annualized dividend and a dividend yield of 2.43%. Nucor Corp.’s dividend payout ratio is presently 93.75%.

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A number of equities research analysts have recently commented on the stock. Credit Suisse Group AG set a $52.00 target price on shares of Nucor Corp. and gave the company a “hold” rating in a research report on Saturday, October 8th. Jefferies Group reiterated a “buy” rating on shares of Nucor Corp. in a research report on Saturday, October 1st. Macquarie cut shares of Nucor Corp. from a “neutral” rating to an “underperform” rating in a research report on Tuesday. BMO Capital Markets reiterated a “hold” rating on shares of Nucor Corp. in a research report on Thursday, October 20th. Finally, Bank of America Corp. upgraded shares of Nucor Corp. from a “neutral” rating to a “buy” rating and increased their target price for the company from $50.00 to $57.00 in a research report on Wednesday, November 9th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $53.75.

Nucor Corp. Company Profile

Nucor Corporation (Nucor) manufactures steel and steel products. The Company also produces direct reduced iron (DRI) for use in the Company’s steel mills. It also processes ferrous and nonferrous metals and brokers ferrous and nonferrous metals, pig iron, hot briquetted iron (HBI) and DRI. Nucor operates in three segments: steel mills, steel products and raw materials.

5 Day Chart for NYSE:NUE

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