Nucor Corp. (NUE) Shares Sold by Hamlin Capital Management LLC
Hamlin Capital Management LLC decreased its stake in shares of Nucor Corp. (NYSE:NUE) by 53.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 647,874 shares of the company’s stock after selling 751,848 shares during the period. Hamlin Capital Management LLC owned approximately 0.20% of Nucor Corp. worth $32,011,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp boosted its position in Nucor Corp. by 0.7% in the first quarter. State Street Corp now owns 19,261,888 shares of the company’s stock valued at $911,088,000 after buying an additional 136,095 shares during the last quarter. BlackRock Group LTD boosted its position in shares of Nucor Corp. by 0.7% in the first quarter. BlackRock Group LTD now owns 2,849,775 shares of the company’s stock worth $134,795,000 after buying an additional 20,855 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Nucor Corp. by 8.7% in the first quarter. Geode Capital Management LLC now owns 2,779,945 shares of the company’s stock worth $131,245,000 after buying an additional 223,580 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Nucor Corp. by 20.0% in the second quarter. American Century Companies Inc. now owns 2,019,648 shares of the company’s stock worth $99,791,000 after buying an additional 337,158 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its position in shares of Nucor Corp. by 4.9% in the first quarter. TIAA CREF Investment Management LLC now owns 1,830,485 shares of the company’s stock worth $86,582,000 after buying an additional 85,271 shares in the last quarter. Hedge funds and other institutional investors own 77.92% of the company’s stock.
Shares of Nucor Corp. (NYSE:NUE) traded up 2.13% during mid-day trading on Wednesday, hitting $49.73. 2,125,259 shares of the company were exchanged. The firm has a 50 day moving average of $48.98 and a 200 day moving average of $49.51. The company has a market capitalization of $15.83 billion, a price-to-earnings ratio of 34.08 and a beta of 1.48. Nucor Corp. has a 12-month low of $33.90 and a 12-month high of $57.08.
Nucor Corp. (NYSE:NUE) last issued its earnings results on Thursday, July 21st. The company reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.03. The firm earned $4.25 billion during the quarter, compared to the consensus estimate of $4.49 billion. Nucor Corp. had a return on equity of 8.58% and a net margin of 3.00%. Equities research analysts forecast that Nucor Corp. will post $2.71 earnings per share for the current 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 issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Wednesday, September 28th. Nucor Corp.’s dividend payout ratio (DPR) is currently 102.04%.
A number of equities analysts have recently issued reports on the stock. Bank of America Corp. cut shares of Nucor Corp. from a “buy” rating to a “neutral” rating and set a $56.00 price objective for the company. in a research note on Wednesday, July 20th. Argus upgraded shares of Nucor Corp. from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Friday, June 24th. BMO Capital Markets set a $51.00 price objective on shares of Nucor Corp. and gave the company a “hold” rating in a research note on Wednesday, September 14th. Barclays PLC increased their price objective on shares of Nucor Corp. from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, July 12th. Finally, Citigroup Inc. began coverage on shares of Nucor Corp. in a research note on Monday, August 22nd. They issued a “neutral” rating and a $55.00 price objective for the company. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $53.14.
In other news, Chairman John J. Ferriola sold 12,128 shares of the business’s stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $54.12, for a total transaction of $656,367.36. Following the sale, the chairman now directly owns 354,420 shares in the company, valued at $19,181,210.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO James D. Frias sold 9,000 shares of the business’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $53.14, for a total value of $478,260.00. Following the sale, the chief financial officer now owns 156,065 shares in the company, valued at $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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