Savant Capital LLC raised its position in Nucor Corp. (NYSE:NUE) by 0.4% during the second quarter, Holdings Channel reports. The fund owned 5,052 shares of the company’s stock after buying an additional 20 shares during the period. Savant Capital LLC’s holdings in Nucor Corp. were worth $250,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in NUE. NEXT Financial Group Inc boosted its stake in Nucor Corp. by 4.5% in the second quarter. NEXT Financial Group Inc now owns 2,310 shares of the company’s stock worth $114,000 after buying an additional 100 shares during the last quarter. Brookfield Asset Management Inc. acquired a new stake in Nucor Corp. during the first quarter worth approximately $147,000. Kanaly Trust Co boosted its stake in Nucor Corp. by 0.5% in the second quarter. Kanaly Trust Co now owns 3,326 shares of the company’s stock worth $164,000 after buying an additional 15 shares during the last quarter. Acrospire Investment Management LLC acquired a new stake in Nucor Corp. during the first quarter worth approximately $170,000. Finally, Parasol Investment Management LLC boosted its stake in Nucor Corp. by 13.2% in the second quarter. Parasol Investment Management LLC now owns 4,293 shares of the company’s stock worth $212,000 after buying an additional 500 shares during the last quarter. Institutional investors own 77.92% of the company’s stock.
Shares of Nucor Corp. (NYSE:NUE) traded down 1.19% during midday trading on Friday, reaching $47.39. The company had a trading volume of 2,361,188 shares. The stock has a market capitalization of $15.09 billion, a price-to-earnings ratio of 32.48 and a beta of 1.47. The firm’s 50 day moving average price is $48.29 and its 200-day moving average price is $49.60. Nucor Corp. has a 1-year low of $33.90 and a 1-year high of $57.08.
Nucor Corp. (NYSE:NUE) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.03. The business earned $4.25 billion during the quarter, compared to analysts’ expectations of $4.49 billion. Nucor Corp. had a return on equity of 8.58% and a net margin of 3.00%. Equities research analysts expect that Nucor Corp. will post $2.67 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Wednesday, September 28th. Nucor Corp.’s dividend payout ratio is presently 102.04%.
NUE has been the topic of a number of recent analyst reports. Deutsche Bank AG upgraded Nucor Corp. from a “hold” rating to a “buy” rating and lifted their target price for the stock from $52.00 to $60.00 in a research note on Wednesday, July 6th. Zacks Investment Research raised Nucor Corp. from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a report on Tuesday, July 5th. Argus raised Nucor Corp. from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Friday, June 24th. Bank of America Corp. reissued a “buy” rating on shares of Nucor Corp. in a report on Friday, June 17th. Finally, Jefferies Group reissued a “buy” rating and issued a $60.00 price objective (up previously from $56.00) on shares of Nucor Corp. in a report on Friday, June 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $53.14.
In other Nucor Corp. news, Chairman John J. Ferriola sold 12,128 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $54.12, for a total transaction of $656,367.36. Following the completion of the transaction, the chairman now owns 354,420 shares in the company, valued at approximately $19,181,210.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James D. Frias sold 9,000 shares of the firm’s stock in a transaction that occurred 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 owns 156,065 shares of the company’s stock, valued at approximately $8,293,294.10. The disclosure for this sale can be found here. Company insiders own 0.63% of the company’s stock.
Nucor Corp. Company Profile
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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