Advisory Services Network LLC cut its position in Nucor Corporation (NYSE:NUE) by 11.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,664 shares of the basic materials company’s stock after selling 1,905 shares during the quarter. Advisory Services Network LLC’s holdings in Nucor Corporation were worth $849,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the stock. Jennison Associates LLC boosted its position in Nucor Corporation by 1.4% during the second quarter. Jennison Associates LLC now owns 7,140 shares of the basic materials company’s stock worth $413,000 after purchasing an additional 99 shares during the period. Achmea Investment Management B.V. bought a new stake in shares of Nucor Corporation in the first quarter valued at about $4,047,000. CWA Asset Management Group LLC boosted its position in shares of Nucor Corporation by 7.1% in the second quarter. CWA Asset Management Group LLC now owns 35,994 shares of the basic materials company’s stock valued at $2,083,000 after acquiring an additional 2,380 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Nucor Corporation by 8.9% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 46,237 shares of the basic materials company’s stock valued at $2,676,000 after acquiring an additional 3,792 shares during the period. Finally, Swiss National Bank boosted its position in shares of Nucor Corporation by 3.1% in the second quarter. Swiss National Bank now owns 1,163,561 shares of the basic materials company’s stock valued at $67,335,000 after acquiring an additional 35,100 shares during the period. 74.76% of the stock is owned by institutional investors and hedge funds.
Shares of Nucor Corporation (NUE) traded up 0.07% during mid-day trading on Friday, reaching $59.77. The company had a trading volume of 599,446 shares. The stock has a 50 day moving average price of $55.99 and a 200 day moving average price of $57.46. Nucor Corporation has a 12-month low of $46.61 and a 12-month high of $68.00. The firm has a market capitalization of $19.09 billion, a PE ratio of 16.78 and a beta of 1.54.
Nucor Corporation (NYSE:NUE) last announced its earnings results on Thursday, October 19th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.01. The business had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.19 billion. Nucor Corporation had a return on equity of 12.77% and a net margin of 5.80%. The business’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 EPS. On average, equities analysts forecast that Nucor Corporation will post $3.75 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Friday, September 29th will be given a $0.3775 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 2.53%. Nucor Corporation’s payout ratio is 43.90%.
A number of equities research analysts have recently issued reports on the stock. Cowen and Company reissued a “market perform” rating and issued a $63.00 target price (up previously from $62.00) on shares of Nucor Corporation in a research report on Tuesday, July 25th. Morgan Stanley reissued a “buy” rating on shares of Nucor Corporation in a research report on Tuesday, July 18th. KeyCorp reissued a “hold” rating on shares of Nucor Corporation in a research report on Thursday, October 19th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $62.00 price target (down previously from $70.00) on shares of Nucor Corporation in a research note on Monday, September 18th. Finally, Jefferies Group LLC reaffirmed a “buy” rating on shares of Nucor Corporation in a research note on Friday, June 30th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company’s stock. Nucor Corporation currently has a consensus rating of “Hold” and a consensus target price of $67.32.
In other news, Chairman John J. Ferriola sold 15,131 shares of the firm’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $60.40, for a total value of $913,912.40. Following the completion of the sale, the chairman now owns 349,506 shares of the company’s stock, valued at approximately $21,110,162.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Victoria F. Haynes sold 2,500 shares of Nucor Corporation stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $55.16, for a total value of $137,900.00. Following the sale, the director now directly owns 33,573 shares of the company’s stock, valued at approximately $1,851,886.68. The disclosure for this sale can be found here. 0.70% of the stock is owned by company insiders.
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About Nucor Corporation
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).
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