IFP Advisors Inc Sells 995 Shares of Nucor Corporation (NUE)
IFP Advisors Inc reduced its position in Nucor Corporation (NYSE:NUE) by 13.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 6,161 shares of the basic materials company’s stock after selling 995 shares during the period. IFP Advisors Inc’s holdings in Nucor Corporation were worth $357,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently modified their holdings of the company. Macquarie Group Ltd. boosted its position in shares of Nucor Corporation by 866.4% in the fourth quarter. Macquarie Group Ltd. now owns 145,925 shares of the basic materials company’s stock worth $8,686,000 after buying an additional 130,825 shares in the last quarter. Capstone Asset Management Co. boosted its position in shares of Nucor Corporation by 7.1% in the first quarter. Capstone Asset Management Co. now owns 29,303 shares of the basic materials company’s stock worth $1,750,000 after buying an additional 1,930 shares in the last quarter. Atria Investments LLC boosted its position in shares of Nucor Corporation by 50.0% in the first quarter. Atria Investments LLC now owns 5,103 shares of the basic materials company’s stock worth $305,000 after buying an additional 1,701 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its position in shares of Nucor Corporation by 21.7% in the first quarter. Farmers & Merchants Investments Inc. now owns 71,049 shares of the basic materials company’s stock worth $4,243,000 after buying an additional 12,690 shares in the last quarter. Finally, Cohen Capital Management Inc. purchased a new position in shares of Nucor Corporation during the first quarter worth about $227,000. Institutional investors own 75.99% of the company’s stock.
Shares of Nucor Corporation (NYSE NUE) opened at 55.57 on Wednesday. The stock’s 50 day moving average price is $58.31 and its 200-day moving average price is $59.43. Nucor Corporation has a 1-year low of $44.81 and a 1-year high of $68.00. The company has a market capitalization of $17.75 billion, a PE ratio of 15.60 and a beta of 1.51.
Nucor Corporation (NYSE:NUE) last announced its quarterly earnings results on Thursday, July 20th. The basic materials company reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by $0.06. The business had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $5.08 billion. Nucor Corporation had a net margin of 6.08% and a return on equity of 13.39%. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.73 earnings per share. On average, equities analysts predict that Nucor Corporation will post $4.18 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 11th. Stockholders of record on Friday, June 30th were issued a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date was Wednesday, June 28th. Nucor Corporation’s payout ratio is currently 43.77%.
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A number of equities analysts recently issued reports on NUE shares. 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 report on Wednesday, April 19th. Barclays PLC restated a “buy” rating and set a $68.00 price objective (up from $67.00) on shares of Nucor Corporation in a research note on Thursday, April 20th. BMO Capital Markets restated a “hold” rating on shares of Nucor Corporation in a research note on Friday, April 21st. Macquarie upgraded Nucor Corporation from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $55.00 to $62.00 in a research note on Monday, April 24th. Finally, Longbow Research assumed coverage on Nucor Corporation in a research note on Tuesday, May 9th. They set a “neutral” rating on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Nucor Corporation currently has an average rating of “Buy” and an average price target of $68.76.
In other 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 transaction of $898,999.97. Following the transaction, the chairman now directly owns 361,847 shares of the company’s stock, valued at $21,772,333.99. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction, the insider now directly owns 19,610 shares in the company, valued at $1,181,110.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,104 shares of company stock worth $1,213,595. Corporate insiders own 0.70% of the company’s stock.
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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