Fieldpoint Private Securities LLC Takes $237,000 Position in Nucor Corporation (NUE)
Fieldpoint Private Securities LLC bought a new position in Nucor Corporation (NYSE:NUE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,100 shares of the basic materials company’s stock, valued at approximately $237,000.
A number of other hedge funds have also recently modified their holdings of NUE. Jennison Associates LLC raised 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 valued at $413,000 after acquiring an additional 99 shares in the last quarter. Achmea Investment Management B.V. acquired a new stake in Nucor Corporation in the first quarter valued at approximately $4,047,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in 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 last quarter. CWA Asset Management Group LLC lifted its stake in 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 last quarter. Finally, Swiss National Bank lifted its stake in 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 last quarter. 74.86% of the stock is currently owned by institutional investors.
Several brokerages have recently commented on NUE. Berenberg Bank restated a “buy” rating and set a $77.50 price target on shares of Nucor Corporation in a research note on Wednesday, July 19th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Nucor Corporation in a research note on Wednesday, July 19th. Morgan Stanley reiterated a “buy” rating on shares of Nucor Corporation in a report on Tuesday, July 18th. Longbow Research restated a “buy” rating and set a $66.00 target price on shares of Nucor Corporation in a report on Thursday, July 27th. Finally, Bank of America Corporation restated a “buy” rating and set a $73.00 target price on shares of Nucor Corporation in a report on Wednesday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $67.12.
Shares of Nucor Corporation (NYSE:NUE) traded up 0.12% during trading on Monday, reaching $56.11. 868,799 shares of the company were exchanged. Nucor Corporation has a one year low of $45.30 and a one year high of $68.00. The company has a 50 day moving average price of $55.28 and a 200-day moving average price of $58.29. The stock has a market capitalization of $17.92 billion, a price-to-earnings ratio of 15.75 and a beta of 1.54.
Nucor Corporation (NYSE:NUE) last posted its quarterly earnings results on Thursday, July 20th. The basic materials company reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.06). Nucor Corporation had a return on equity of 13.39% and a net margin of 6.08%. The business had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $5.08 billion. During the same quarter in the previous year, the business posted $0.73 EPS. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. Equities analysts predict that Nucor Corporation will post $3.92 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders 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 yield of 2.69%. Nucor Corporation’s dividend payout ratio is 43.77%.
In other news, insider Leon J. Topalian sold 2,626 shares of Nucor Corporation stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $60.23, for a total transaction of $158,163.98. Following the completion of the transaction, the insider now directly owns 19,610 shares in the company, valued at approximately $1,181,110.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman John J. Ferriola sold 14,941 shares of Nucor Corporation stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $60.17, for a total value of $898,999.97. Following 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. Insiders sold 22,604 shares of company stock worth $1,351,495 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.
WARNING: This piece was first reported by Watch List News and is owned by of Watch List News. If you are reading this piece on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark legislation. The correct version of this piece can be accessed at https://www.watchlistnews.com/fieldpoint-private-securities-llc-takes-237000-position-in-nucor-corporation-nue/1603466.html.
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).
Want to see what other hedge funds are holding NUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nucor Corporation (NYSE:NUE).
Receive News & Ratings for Nucor Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.