Nucor Corporation (NUE) Stake Raised by National Planning Corp
National Planning Corp raised its position in Nucor Corporation (NYSE:NUE) by 6.4% during the second quarter, Holdings Channel reports. The fund owned 9,526 shares of the basic materials company’s stock after buying an additional 575 shares during the period. National Planning Corp’s holdings in Nucor Corporation were worth $561,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Achmea Investment Management B.V. acquired a new stake in shares of Nucor Corporation during the first quarter worth about $4,047,000. Main Street Research LLC increased its stake in shares of Nucor Corporation by 1.4% in the first quarter. Main Street Research LLC now owns 184,720 shares of the basic materials company’s stock worth $11,031,000 after buying an additional 2,489 shares during the last quarter. Suntrust Banks Inc. increased its stake in shares of Nucor Corporation by 5.3% in the first quarter. Suntrust Banks Inc. now owns 148,786 shares of the basic materials company’s stock worth $8,884,000 after buying an additional 7,440 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Nucor Corporation by 2.5% in the first quarter. Legal & General Group Plc now owns 1,590,410 shares of the basic materials company’s stock worth $94,975,000 after buying an additional 38,454 shares during the last quarter. Finally, Savant Capital LLC increased its stake in shares of Nucor Corporation by 1.3% in the first quarter. Savant Capital LLC now owns 4,281 shares of the basic materials company’s stock worth $256,000 after buying an additional 55 shares during the last quarter. 76.57% of the stock is owned by hedge funds and other institutional investors.
Nucor Corporation (NUE) opened at 55.37 on Friday. The firm has a market capitalization of $17.69 billion, a P/E ratio of 15.54 and a beta of 1.51. The stock’s 50 day moving average price is $58.42 and its 200-day moving average price is $59.51. Nucor Corporation has a 12 month low of $44.81 and a 12 month high of $68.00.
Nucor Corporation (NYSE:NUE) last posted its 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. Nucor Corporation had a net margin of 6.08% and a return on equity of 13.39%. The company had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.08 billion. During the same quarter last year, the business posted $0.73 EPS. Nucor Corporation’s quarterly revenue was up 21.9% compared to the same quarter last year. On average, analysts forecast that Nucor Corporation will post $4.18 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 11th. Stockholders of record on Friday, June 30th were paid a $0.3775 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 2.73%. Nucor Corporation’s dividend payout ratio (DPR) is currently 43.77%.
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A number of analysts recently issued reports on NUE shares. Jefferies Group LLC reissued a “buy” rating and set a $68.00 price objective on shares of Nucor Corporation in a research report on Wednesday, July 19th. Longbow Research reaffirmed a “buy” rating and issued a $66.00 target price on shares of Nucor Corporation in a research report on Thursday, July 27th. ValuEngine downgraded Nucor Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 16th. KeyCorp reaffirmed an “overweight” rating and issued a $66.00 target price (down from $72.00) on shares of Nucor Corporation in a research report on Monday, June 26th. Finally, Barclays PLC reaffirmed a “buy” rating and issued a $73.00 target price on shares of Nucor Corporation in a research report on Friday, May 5th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $68.76.
In other news, insider Leon J. Topalian sold 2,626 shares of the stock in a transaction dated Monday, July 24th. The stock was 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 in the company, valued at $1,181,110.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David A. Sumoski sold 2,537 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $61.66, for a total value of $156,431.42. Following the completion of the sale, the insider now owns 62,434 shares of the company’s stock, valued at approximately $3,849,680.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,104 shares of company stock valued at $1,213,595. Insiders own 0.70% of the company’s stock.
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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