Mutual of America Capital Management LLC Has $4.08 Million Holdings in Nucor Corporation (NUE)
Mutual of America Capital Management LLC lessened its holdings in Nucor Corporation (NYSE:NUE) by 14.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 70,463 shares of the basic materials company’s stock after selling 12,111 shares during the period. Mutual of America Capital Management LLC’s holdings in Nucor Corporation were worth $4,078,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Washington Trust Bank increased its stake in Nucor Corporation by 60.2% in the 2nd 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 in the last quarter. Fiduciary Trust Co. purchased a new stake in Nucor Corporation in the 2nd quarter worth $109,000. Valley National Advisers Inc. increased its stake in Nucor Corporation by 12.0% in the 1st 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 in the last quarter. First Command Bank increased its stake in Nucor Corporation by 1.5% in the 2nd quarter. First Command Bank now owns 2,905 shares of the basic materials company’s stock worth $169,000 after buying an additional 44 shares in the last quarter. Finally, Ledyard National Bank increased its stake in Nucor Corporation by 56.2% in the 2nd quarter. Ledyard National Bank now owns 3,195 shares of the basic materials company’s stock worth $185,000 after buying an additional 1,150 shares in the last quarter. Institutional investors and hedge funds own 74.86% of the company’s stock.
A number of research analysts have recently weighed in on NUE shares. Cowen and Company restated a “market perform” rating and set a $63.00 price objective (up previously from $62.00) on shares of Nucor Corporation in a research report on Tuesday, July 25th. Morgan Stanley restated a “buy” rating on shares of Nucor Corporation in a research report on Tuesday, July 18th. BMO Capital Markets restated a “market perform” rating and set a $62.00 price objective (down previously from $70.00) on shares of Nucor Corporation in a research report on Monday, September 18th. Jefferies Group LLC restated a “buy” rating on shares of Nucor Corporation in a research report on Friday, June 30th. Finally, Berenberg Bank restated a “buy” rating and set a $77.50 price objective on shares of Nucor Corporation in a research report on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $68.00.
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In related news, Director Victoria F. Haynes sold 2,500 shares of the company’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $55.16, for a total transaction of $137,900.00. Following the completion of the sale, the director now owns 33,573 shares of the company’s stock, valued at approximately $1,851,886.68. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman John J. Ferriola sold 14,941 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $60.17, for a total transaction of $898,999.97. Following the sale, the chairman now directly owns 361,847 shares of the company’s stock, valued at approximately $21,772,333.99. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,604 shares of company stock valued at $1,351,495. 0.70% of the stock is owned by corporate insiders.
Nucor Corporation (NYSE NUE) opened at 54.53 on Monday. The company has a 50 day moving average of $55.28 and a 200-day moving average of $58.29. Nucor Corporation has a one year low of $45.30 and a one year high of $68.00. The company has a market cap of $17.42 billion, a P/E ratio of 15.31 and a beta of 1.53.
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 consensus estimate of $1.06 by ($0.06). Nucor Corporation had a net margin of 6.08% and a return on equity of 13.39%. The business had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.08 billion. During the same period in the prior year, the company posted $0.73 EPS. The firm’s revenue was up 21.9% on a year-over-year basis. On average, equities analysts expect that Nucor Corporation will post $3.96 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Friday, September 29th will be paid a dividend of $0.3775 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.51 annualized dividend and a yield of 2.77%. Nucor Corporation’s dividend payout ratio is presently 43.77%.
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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