D.A. Davidson & CO. Has $3.63 Million Stake in Nucor Corporation (NUE)
D.A. Davidson & CO. grew its holdings in shares of Nucor Corporation (NYSE:NUE) by 6.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 62,722 shares of the basic materials company’s stock after acquiring an additional 4,019 shares during the period. D.A. Davidson & CO.’s holdings in Nucor Corporation were worth $3,629,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in NUE. Washington Trust Bank raised its stake in shares of Nucor Corporation by 60.2% during the second quarter. Washington Trust Bank now owns 1,756 shares of the basic materials company’s stock valued at $102,000 after acquiring an additional 660 shares during the last quarter. Fiduciary Trust Co. bought a new position in shares of Nucor Corporation during the second quarter valued at $109,000. Advantage Investment Management LLC raised its stake in shares of Nucor Corporation by 164.9% during the first quarter. Advantage Investment Management LLC now owns 1,854 shares of the basic materials company’s stock valued at $111,000 after acquiring an additional 1,154 shares during the last quarter. Valley National Advisers Inc. raised its stake in shares of Nucor Corporation by 12.0% during the first quarter. Valley National Advisers Inc. now owns 2,340 shares of the basic materials company’s stock valued at $140,000 after acquiring an additional 250 shares during the last quarter. Finally, First Command Bank raised its stake in shares of Nucor Corporation by 1.5% during the second quarter. First Command Bank now owns 2,905 shares of the basic materials company’s stock valued at $169,000 after acquiring an additional 44 shares during the last quarter. 74.86% of the stock is owned by hedge funds and other institutional investors.
In related news, insider David A. Sumoski sold 2,537 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $61.66, for a total value of $156,431.42. Following the completion of the transaction, the insider now directly owns 62,434 shares in the company, valued at approximately $3,849,680.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman John J. Ferriola sold 14,941 shares of the stock in a transaction dated 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 transaction, the chairman now owns 361,847 shares of the company’s stock, valued at $21,772,333.99. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,104 shares of company stock valued at $1,213,595. 0.70% of the stock is owned by company insiders.
Nucor Corporation (NYSE:NUE) last issued its quarterly earnings results 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). The business had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.08 billion. Nucor Corporation had a return on equity of 13.39% and a net margin of 6.08%. The firm’s revenue was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.73 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Friday, September 29th will be paid a $0.3775 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.51 annualized dividend and a dividend yield of 2.70%. Nucor Corporation’s payout ratio is 43.77%.
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Several equities analysts have recently issued reports on the stock. BidaskClub raised shares of Nucor Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Zacks Investment Research downgraded shares of Nucor Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. KeyCorp reaffirmed an “overweight” rating and set a $66.00 price target (down previously from $72.00) on shares of Nucor Corporation in a research note on Monday, June 26th. ValuEngine downgraded shares of Nucor Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Credit Suisse Group raised shares of Nucor Corporation from a “neutral” rating to an “outperform” rating and raised their price target for the company from $56.00 to $68.00 in a research note on Wednesday, May 24th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $68.00.
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).
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