Nucor Corporation (NUE) Shares Bought by Sigma Planning Corp
Sigma Planning Corp raised its stake in Nucor Corporation (NYSE:NUE) by 1.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,647 shares of the basic materials company’s stock after buying an additional 62 shares during the period. Sigma Planning Corp’s holdings in Nucor Corporation were worth $269,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Nucor Corporation by 1,900.5% in the first quarter. BlackRock Inc. now owns 21,654,414 shares of the basic materials company’s stock valued at $1,293,202,000 after buying an additional 20,571,970 shares during the last quarter. Vanguard Group Inc. increased its stake in Nucor Corporation by 17.3% in the first quarter. Vanguard Group Inc. now owns 25,254,158 shares of the basic materials company’s stock valued at $1,508,179,000 after buying an additional 3,729,281 shares during the last quarter. Pioneer Investment Management Inc. increased its stake in Nucor Corporation by 437.2% in the second quarter. Pioneer Investment Management Inc. now owns 1,813,506 shares of the basic materials company’s stock valued at $104,947,000 after buying an additional 1,475,935 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Nucor Corporation by 1,351.9% in the first quarter. PNC Financial Services Group Inc. now owns 1,207,726 shares of the basic materials company’s stock valued at $72,124,000 after buying an additional 1,124,541 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Nucor Corporation by 53.6% in the first quarter. AQR Capital Management LLC now owns 2,513,579 shares of the basic materials company’s stock valued at $150,111,000 after buying an additional 877,194 shares during the last quarter. Institutional investors own 75.99% of the company’s stock.
Nucor Corporation (NYSE:NUE) opened at 54.35 on Friday. Nucor Corporation has a 52-week low of $44.81 and a 52-week high of $68.00. The stock has a market capitalization of $17.36 billion, a PE ratio of 15.26 and a beta of 1.51. The stock’s 50 day moving average price is $58.20 and its 200-day moving average price is $59.37.
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 analysts’ consensus estimates of $1.06 by $0.06. The business had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.08 billion. Nucor Corporation had a return on equity of 13.39% and a net margin of 6.08%. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.73 EPS. On average, equities analysts expect that Nucor Corporation will post $4.18 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Friday, June 30th were given a dividend of $0.3775 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.51 dividend on an annualized basis and a yield of 2.78%. Nucor Corporation’s dividend payout ratio is currently 43.77%.
Several research analysts have issued reports on NUE shares. Barclays PLC reissued a “buy” rating and issued a $68.00 target price (up from $67.00) on shares of Nucor Corporation in a research report on Thursday, April 20th. BMO Capital Markets reissued a “hold” rating on shares of Nucor Corporation in a research report on Friday, April 21st. Macquarie raised Nucor Corporation from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $55.00 to $62.00 in a research report on Monday, April 24th. Longbow Research started coverage on Nucor Corporation in a research report on Tuesday, May 9th. They issued a “neutral” rating on the stock. Finally, Zacks Investment Research cut Nucor Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th. Two analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $68.76.
In other Nucor Corporation news, insider David A. Sumoski sold 2,537 shares of the stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $61.66, for a total transaction of $156,431.42. Following the transaction, the insider now owns 62,434 shares in the company, valued at $3,849,680.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman John J. Ferriola sold 14,941 shares of the 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 in the company, valued at approximately $21,772,333.99. The disclosure for this sale can be found here. Insiders have sold 20,104 shares of company stock worth $1,213,595 in the last quarter. 0.70% of the stock is currently 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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