Peapack Gladstone Financial Corp Acquires 4,303 Shares of Nucor Corporation (NUE)
Peapack Gladstone Financial Corp raised its holdings in Nucor Corporation (NYSE:NUE) by 6.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,191 shares of the basic materials company’s stock after purchasing an additional 4,303 shares during the period. Peapack Gladstone Financial Corp’s holdings in Nucor Corporation were worth $4,236,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Jennison Associates LLC increased its stake in shares of Nucor Corporation by 1.4% in the second quarter. Jennison Associates LLC now owns 7,140 shares of the basic materials company’s stock worth $413,000 after purchasing an additional 99 shares in the last quarter. Achmea Investment Management B.V. purchased a new position in shares of Nucor Corporation in the first quarter worth about $4,047,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Nucor Corporation by 8.9% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 46,237 shares of the basic materials company’s stock worth $2,676,000 after purchasing an additional 3,792 shares in the last quarter. CWA Asset Management Group LLC increased its stake in shares of Nucor Corporation by 7.1% in the second quarter. CWA Asset Management Group LLC now owns 35,994 shares of the basic materials company’s stock worth $2,083,000 after purchasing an additional 2,380 shares in the last quarter. Finally, Swiss National Bank increased its stake in shares of Nucor Corporation by 3.1% in the second quarter. Swiss National Bank now owns 1,163,561 shares of the basic materials company’s stock worth $67,335,000 after purchasing an additional 35,100 shares in the last quarter. Hedge funds and other institutional investors own 74.86% of the company’s stock.
Shares of Nucor Corporation (NUE) traded up 1.28% during midday trading on Thursday, reaching $56.83. 745,567 shares of the company’s stock traded hands. Nucor Corporation has a one year low of $45.30 and a one year high of $68.00. The stock’s 50-day moving average price is $54.83 and its 200 day moving average price is $57.78. The firm has a market capitalization of $18.15 billion, a PE ratio of 15.95 and a beta of 1.54.
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 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 for the quarter, compared to analysts’ expectations of $5.08 billion. During the same period last year, the business earned $0.73 earnings per share. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. On average, equities research analysts expect that Nucor Corporation will post $3.91 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Thursday, September 28th. Nucor Corporation’s dividend payout ratio (DPR) is currently 43.77%.
Several equities analysts have recently weighed in on the stock. Longbow Research downgraded shares of Nucor Corporation from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $55.01 to $56.04 in a research note on Monday. Credit Suisse Group reduced their target price on shares of Nucor Corporation from $68.00 to $63.00 and set a “buy” rating for the company in a research note on Thursday, September 28th. Zacks Investment Research downgraded shares of Nucor Corporation from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 26th. KeyCorp reiterated a “hold” rating on shares of Nucor Corporation in a research note on Tuesday, September 19th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $62.00 target price (down previously from $70.00) on shares of Nucor Corporation in a research note on Monday, September 18th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $67.13.
In related news, insider David A. Sumoski sold 2,537 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 62,434 shares of the company’s stock, valued at $3,849,680.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Victoria F. Haynes sold 2,500 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 33,573 shares of the company’s stock, valued at $1,851,886.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,604 shares of company stock valued at $1,351,495. Insiders own 0.70% of the company’s stock.
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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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