Aberdeen Asset Management PLC UK grew its position in Nucor Corporation (NYSE:NUE) by 6.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 640,163 shares of the basic materials company’s stock after acquiring an additional 37,187 shares during the period. Aberdeen Asset Management PLC UK owned about 0.20% of Nucor Corporation worth $37,046,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Washington Trust Bank increased its stake in shares of Nucor Corporation by 60.2% during the second quarter. Washington Trust Bank now owns 1,756 shares of the basic materials company’s stock worth $102,000 after purchasing an additional 660 shares in the last quarter. Fiduciary Trust Co. purchased a new stake in shares of Nucor Corporation during the second quarter worth about $109,000. Advantage Investment Management LLC increased its stake in shares of Nucor Corporation by 164.9% during the first quarter. Advantage Investment Management LLC now owns 1,854 shares of the basic materials company’s stock worth $111,000 after purchasing an additional 1,154 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in Nucor Corporation by 0.7% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 2,147 shares of the basic materials company’s stock valued at $128,000 after acquiring an additional 15 shares in the last quarter. Finally, Valley National Advisers Inc. grew its stake in Nucor Corporation by 12.0% during the 1st quarter. Valley National Advisers Inc. now owns 2,340 shares of the basic materials company’s stock valued at $140,000 after acquiring an additional 250 shares in the last quarter. Institutional investors and hedge funds own 75.00% of the company’s stock.
NUE has been the subject of several research reports. Longbow Research reaffirmed a “buy” rating and set a $66.00 price objective on shares of Nucor Corporation in a research note on Thursday, July 27th. Berenberg Bank reaffirmed a “buy” rating and set a $77.50 price objective on shares of Nucor Corporation in a research note on Wednesday, July 19th. Jefferies Group LLC reaffirmed a “buy” rating and set a $68.00 price objective on shares of Nucor Corporation in a research note on Wednesday, July 19th. Morgan Stanley reaffirmed a “buy” rating on shares of Nucor Corporation in a research note on Tuesday, July 18th. Finally, Bank of America Corporation reissued a “buy” rating and issued a $73.00 price target on shares of Nucor Corporation in a research note on Wednesday, September 6th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $68.47.
Shares of Nucor Corporation (NYSE NUE) traded down 0.85% during midday trading on Friday, hitting $53.50. 3,595,327 shares of the stock were exchanged. Nucor Corporation has a 12-month low of $45.30 and a 12-month high of $68.00. The firm has a 50 day moving average of $55.44 and a 200 day moving average of $58.47. The firm has a market cap of $17.09 billion, a P/E ratio of 15.02 and a beta of 1.53.
Nucor Corporation (NYSE:NUE) last released its earnings results on Thursday, July 20th. The basic materials company reported $1.00 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.06). The firm had revenue of $5.17 billion during 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 was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.73 EPS. Equities analysts forecast that Nucor Corporation will post $4.08 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Friday, September 29th will be paid a $0.3775 dividend. This represents a $1.51 annualized dividend and a yield of 2.82%. The ex-dividend date is Thursday, September 28th. Nucor Corporation’s payout ratio is 43.77%.
In other Nucor Corporation news, insider David A. Sumoski sold 2,537 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $61.66, for a total value of $156,431.42. Following the sale, the insider now owns 62,434 shares in the company, valued at approximately $3,849,680.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman John J. Ferriola sold 14,941 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $60.17, for a total value of $898,999.97. Following the completion of the sale, 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 sold a total of 20,104 shares of company stock worth $1,213,595 in the last 90 days. Company insiders own 0.70% of the company’s stock.
Nucor Corporation 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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