HL Financial Services LLC Acquires New Position in Nucor Corporation (NYSE:NUE)
HL Financial Services LLC acquired a new position in shares of Nucor Corporation (NYSE:NUE) during the second quarter, Holdings Channel reports. The firm acquired 6,922 shares of the basic materials company’s stock, valued at approximately $401,000.
A number of other large investors also recently made changes to their positions in NUE. Washington Trust Bank raised its stake in shares of Nucor Corporation by 60.2% in the second quarter. Washington Trust Bank now owns 1,756 shares of the basic materials company’s stock worth $102,000 after buying an additional 660 shares during the period. Advantage Investment Management LLC raised its stake in shares of Nucor Corporation by 164.9% in the first quarter. Advantage Investment Management LLC now owns 1,854 shares of the basic materials company’s stock worth $111,000 after buying an additional 1,154 shares during the period. Ledyard National Bank bought a new stake in shares of Nucor Corporation during the first quarter worth about $122,000. Massmutual Trust Co. FSB ADV raised its stake in shares of 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. Finally, Valley National Advisers Inc. raised its stake in shares of Nucor Corporation by 12.0% in the first quarter. Valley National Advisers Inc. now owns 2,340 shares of the basic materials company’s stock worth $140,000 after buying an additional 250 shares during the period. 75.99% of the stock is owned by institutional investors and hedge funds.
Nucor Corporation (NUE) opened at 55.72 on Tuesday. The firm’s 50-day moving average is $58.37 and its 200 day moving average is $59.47. The stock has a market capitalization of $17.80 billion, a price-to-earnings ratio of 15.64 and a beta of 1.51. Nucor Corporation has a 1-year low of $44.81 and a 1-year high of $68.00.
Nucor Corporation (NYSE:NUE) last posted its quarterly earnings data on Thursday, July 20th. The basic materials company reported $1.00 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by $0.06. The firm had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.08 billion. Nucor Corporation had a net margin of 6.08% and a return on equity of 13.39%. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.73 earnings per share. Equities analysts anticipate that Nucor Corporation will post $4.18 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Friday, June 30th were issued a $0.3775 dividend. This represents a $1.51 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend was Wednesday, June 28th. Nucor Corporation’s payout ratio is currently 43.77%.
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A number of equities research analysts have issued reports on the stock. Barclays PLC reaffirmed a “buy” rating and set a $68.00 price objective (up from $67.00) on shares of Nucor Corporation in a report on Thursday, April 20th. BidaskClub raised shares of Nucor Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Zacks Investment Research lowered shares of Nucor Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. KeyCorp reissued an “overweight” rating and issued a $66.00 target price (down from $72.00) on shares of Nucor Corporation in a report on Monday, June 26th. Finally, Credit Suisse Group raised shares of Nucor Corporation from a “neutral” rating to an “outperform” rating and raised their target price for the company from $56.00 to $68.00 in a report on Wednesday, May 24th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $68.76.
In other Nucor Corporation news, Chairman John J. Ferriola sold 14,941 shares of the company’s stock in a transaction 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 completion of the sale, the chairman now directly owns 361,847 shares in the company, valued at approximately $21,772,333.99. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Leon J. Topalian sold 2,626 shares of the company’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $60.23, for a total value of $158,163.98. Following the completion of the sale, the insider now owns 19,610 shares of the company’s stock, valued at $1,181,110.30. The disclosure for this sale can be found here. Over the last 90 days, 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 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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