Community Bank N.A. Acquires 300 Shares of Nucor Corp. (NUE)
Community Bank N.A. raised its stake in shares of Nucor Corp. (NYSE:NUE) by 0.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,133 shares of the company’s stock after buying an additional 300 shares during the period. Community Bank N.A.’s holdings in Nucor Corp. were worth $2,528,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Blue Chip Partners Inc. acquired a new stake in Nucor Corp. during the second quarter valued at approximately $102,000. Tuttle Tactical Management LLC acquired a new stake in Nucor Corp. during the second quarter valued at approximately $116,000. NEXT Financial Group Inc increased 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 valued at $114,000 after buying an additional 100 shares during the period. SevenBridge Financial Group LLC acquired a new stake in Nucor Corp. during the second quarter valued at approximately $114,000. Finally, Sunbelt Securities Inc. increased its stake in Nucor Corp. by 0.8% in the second quarter. Sunbelt Securities Inc. now owns 2,494 shares of the company’s stock valued at $123,000 after buying an additional 19 shares during the period. 76.77% of the stock is currently owned by institutional investors and hedge funds.
Nucor Corp. (NYSE:NUE) traded down 1.40% during midday trading on Monday, reaching $61.97. 2,721,497 shares of the company traded hands. Nucor Corp. has a 12 month low of $33.90 and a 12 month high of $62.90. The firm has a market capitalization of $19.74 billion, a PE ratio of 38.88 and a beta of 1.38. The company’s 50-day moving average price is $52.56 and its 200 day moving average price is $50.70.
Nucor Corp. (NYSE:NUE) last issued its earnings results on Thursday, October 20th. The company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.90 by $0.06. The company had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Nucor Corp. had a return on equity of 9.27% and a net margin of 3.26%. Nucor Corp.’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 earnings per share. On average, equities analysts anticipate that Nucor Corp. will post $2.34 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Friday, September 30th were given a dividend of $0.375 per share. The ex-dividend date was Wednesday, September 28th. This represents a $1.50 annualized dividend and a dividend yield of 2.42%. Nucor Corp.’s payout ratio is currently 93.75%.
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A number of brokerages recently issued reports on NUE. Credit Suisse Group AG set a $52.00 price target on shares of Nucor Corp. and gave the stock a “hold” rating in a report on Saturday, October 8th. Jefferies Group reissued a “buy” rating on shares of Nucor Corp. in a report on Saturday, October 1st. BMO Capital Markets reissued a “hold” rating on shares of Nucor Corp. in a report on Thursday, October 20th. Citigroup Inc. reissued a “neutral” rating on shares of Nucor Corp. in a report on Saturday, October 22nd. Finally, Bank of America Corp. raised shares of Nucor Corp. from a “neutral” rating to a “buy” rating and increased their price target for the stock from $50.00 to $57.00 in a report on Wednesday, November 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $53.75.
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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