Bbva Compass Bancshares Inc. Has $249,000 Stake in Nucor Corporation (NUE)
Bbva Compass Bancshares Inc. reduced its position in Nucor Corporation (NYSE:NUE) by 14.5% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 4,313 shares of the basic materials company’s stock after selling 731 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Nucor Corporation were worth $249,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in NUE. Massmutual Trust Co. FSB ADV boosted its position in Nucor Corporation by 0.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,147 shares of the basic materials company’s stock worth $128,000 after buying an additional 15 shares during the period. Accredited Investors Inc. boosted its position in Nucor Corporation by 0.6% in the first quarter. Accredited Investors Inc. now owns 3,892 shares of the basic materials company’s stock worth $232,000 after buying an additional 24 shares during the period. FineMark National Bank & Trust boosted its position in Nucor Corporation by 0.3% in the second quarter. FineMark National Bank & Trust now owns 9,699 shares of the basic materials company’s stock worth $561,000 after buying an additional 26 shares during the period. Cleararc Capital Inc. boosted its position in Nucor Corporation by 0.5% in the first quarter. Cleararc Capital Inc. now owns 7,795 shares of the basic materials company’s stock worth $466,000 after buying an additional 35 shares during the period. Finally, ING Groep NV boosted its position in Nucor Corporation by 0.3% in the second quarter. ING Groep NV now owns 16,591 shares of the basic materials company’s stock worth $960,000 after buying an additional 43 shares during the period. 76.57% of the stock is owned by institutional investors.
Shares of Nucor Corporation (NUE) opened at 57.14 on Thursday. The firm’s 50-day moving average price is $58.44 and its 200 day moving average price is $59.57. The firm has a market capitalization of $18.31 billion, a price-to-earnings ratio of 16.04 and a beta of 1.51. Nucor Corporation has a 52 week low of $44.81 and a 52 week high of $68.00. Nucor Corporation also was the target of unusually large options trading on Monday. Investors purchased 10,201 put options on the stock. This represents an increase of 501% compared to the average daily volume of 1,697 put options.
Nucor Corporation (NYSE:NUE) last announced its quarterly earnings data on Thursday, July 20th. The basic materials company reported $1.00 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by $0.06. Nucor Corporation had a return on equity of 13.39% and a net margin of 6.08%. The firm had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.08 billion. During the same quarter in the prior year, the business posted $0.73 earnings per share. Nucor Corporation’s revenue was up 21.9% on a year-over-year basis. On average, analysts anticipate that Nucor Corporation will post $4.18 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Friday, June 30th will be issued a dividend of $0.3775 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $1.51 annualized dividend and a dividend yield of 2.64%. Nucor Corporation’s dividend payout ratio is 43.77%.
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A number of equities analysts have recently weighed in on the company. Morgan Stanley reissued a “buy” rating on shares of Nucor Corporation in a report on Tuesday, July 18th. Cowen and Company reiterated a “market perform” rating and issued a $63.00 target price (up from $62.00) on shares of Nucor Corporation in a research note on Tuesday, July 25th. Zacks Investment Research lowered Nucor Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, May 16th. Jefferies Group LLC reiterated a “buy” rating and issued a $75.00 target price (down from $77.00) on shares of Nucor Corporation in a research note on Wednesday, April 19th. Finally, Longbow Research initiated coverage on Nucor Corporation in a research note on Tuesday, May 9th. They issued a “neutral” rating for the company. Two research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $68.76.
In related news, Chairman John J. Ferriola sold 14,941 shares of the stock in a transaction on Monday, July 24th. The stock was sold at an average price of $60.17, for a total transaction of $898,999.97. Following the completion of the sale, the chairman now directly owns 361,847 shares in the company, valued at $21,772,333.99. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider David A. Sumoski sold 2,537 shares of the stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $61.66, for a total value of $156,431.42. Following the sale, the insider now owns 62,434 shares of the company’s stock, valued at $3,849,680.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,104 shares of company stock valued at $1,213,595. 0.70% of the stock is owned by corporate insiders.
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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