HL Financial Services LLC increased its stake in shares of Nucor Corp. (NYSE:NUE) by 7.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,116 shares of the company’s stock after buying an additional 373 shares during the period. HL Financial Services LLC’s holdings in Nucor Corp. were worth $253,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the stock. NewSquare Capital LLC increased its stake in Nucor Corp. by 13.9% in the second quarter. NewSquare Capital LLC now owns 16,473 shares of the company’s stock valued at $814,000 after buying an additional 2,011 shares during the last quarter. Rehmann Capital Advisory Group acquired a new stake in shares of Nucor Corp. during the second quarter valued at about $331,000. MSI Financial Services Inc increased its stake in shares of Nucor Corp. by 29.8% in the second quarter. MSI Financial Services Inc now owns 11,109 shares of the company’s stock valued at $549,000 after buying an additional 2,548 shares in the last quarter. Shell Asset Management Co. increased its stake in shares of Nucor Corp. by 58.6% in the second quarter. Shell Asset Management Co. now owns 26,086 shares of the company’s stock valued at $1,289,000 after buying an additional 9,642 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in shares of Nucor Corp. by 173.8% in the second quarter. Daiwa Securities Group Inc. now owns 22,450 shares of the company’s stock valued at $1,109,000 after buying an additional 14,250 shares in the last quarter. 77.92% of the stock is owned by institutional investors.
Nucor Corp. (NYSE:NUE) traded up 1.21% on Friday, reaching $49.45. The company’s stock had a trading volume of 2,745,733 shares. The stock’s 50 day moving average price is $48.71 and its 200 day moving average price is $49.54. Nucor Corp. has a 52-week low of $33.90 and a 52-week high of $57.08. The firm has a market cap of $15.74 billion, a PE ratio of 33.89 and a beta of 1.48.
Nucor Corp. (NYSE:NUE) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. Nucor Corp. had a return on equity of 8.58% and a net margin of 3.00%. The firm had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.49 billion. Equities research analysts expect that Nucor Corp. will post $2.71 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, September 30th will be given a dividend of $0.375 per share. The ex-dividend date is Wednesday, September 28th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.03%. Nucor Corp.’s dividend payout ratio is presently 102.04%.
Several brokerages have issued reports on NUE. Berenberg Bank reaffirmed a “hold” rating and set a $57.50 price target on shares of Nucor Corp. in a report on Tuesday, September 20th. BMO Capital Markets set a $51.00 price target on Nucor Corp. and gave the company a “hold” rating in a report on Wednesday, September 14th. Jefferies Group cut their price target on Nucor Corp. from $60.00 to $55.00 and set a “buy” rating for the company in a report on Thursday, September 15th. Citigroup Inc. began coverage on Nucor Corp. in a report on Monday, August 22nd. They set a “neutral” rating and a $55.00 price target for the company. Finally, Cowen and Company raised their price target on Nucor Corp. from $50.00 to $55.00 and gave the company a “market perform” rating in a report on Tuesday, July 26th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $53.14.
In other news, insider James R. Darsey sold 71,465 shares of the company’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $52.45, for a total transaction of $3,748,339.25. Following the transaction, the insider now owns 234,135 shares of the company’s stock, valued at approximately $12,280,380.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James D. Frias sold 9,000 shares of the company’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $53.14, for a total value of $478,260.00. Following the transaction, the chief financial officer now directly owns 156,065 shares in the company, valued at approximately $8,293,294.10. The disclosure for this sale can be found here. Insiders own 0.63% of the company’s stock.
About Nucor Corp.
Nucor Corporation (Nucor) manufactures steel and steel products. The Company also produces direct reduced iron (DRI) for use in the Company’s steel mills. It also processes ferrous and nonferrous metals and brokers ferrous and nonferrous metals, pig iron, hot briquetted iron (HBI) and DRI. Nucor operates in three segments: steel mills, steel products and raw materials.
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