Point72 Asset Management L.P. lowered its stake in Nucor Corporation (NYSE:NUE) by 83.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 53,692 shares of the basic materials company’s stock after selling 277,963 shares during the period. Point72 Asset Management L.P.’s holdings in Nucor Corporation were worth $3,206,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Bragg Financial Advisors Inc boosted its stake in shares of Nucor Corporation by 2.6% in the first quarter. Bragg Financial Advisors Inc now owns 11,384 shares of the basic materials company’s stock valued at $680,000 after buying an additional 287 shares during the period. First Financial Equity Corporation purchased a new stake in shares of Nucor Corporation during the first quarter valued at about $277,000. Security National Bank of SO Dak bought a new stake in Nucor Corporation during the first quarter valued at $1,281,000. Security National Bank of Sioux City Iowa IA bought a new stake in Nucor Corporation during the first quarter valued at $1,285,000. Finally, Harbour Capital Advisors LLC raised its stake in Nucor Corporation by 60.0% in the first quarter. Harbour Capital Advisors LLC now owns 6,933 shares of the basic materials company’s stock valued at $414,000 after buying an additional 2,600 shares during the last quarter. 76.44% of the stock is currently owned by institutional investors and hedge funds.

Shares of Nucor Corporation (NYSE NUE) traded up 0.40% during midday trading on Thursday, reaching $57.11. The company had a trading volume of 1,333,976 shares. Nucor Corporation has a 52 week low of $44.81 and a 52 week high of $68.00. The company has a market capitalization of $18.22 billion, a P/E ratio of 16.04 and a beta of 1.51. The company’s 50 day moving average price is $58.35 and its 200-day moving average price is $59.71.

Nucor Corporation (NYSE:NUE) last issued its earnings results on Thursday, July 20th. The basic materials company reported $1.00 EPS for the quarter, missing the Zacks’ consensus estimate of $1.06 by $0.06. Nucor Corporation had a net margin of 6.08% and a return on equity of 13.39%. The company had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.08 billion. During the same quarter in the previous year, the firm earned $0.73 earnings per share. The business’s revenue was up 21.9% on a year-over-year basis. On average, equities research analysts predict that Nucor Corporation will post $4.18 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 11th. Shareholders of record on Friday, June 30th will be paid a $0.3775 dividend. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $1.51 dividend on an annualized basis and a yield of 2.64%. Nucor Corporation’s payout ratio is currently 43.77%.

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Several research firms recently weighed in on NUE. Morgan Stanley restated a “buy” rating on shares of Nucor Corporation in a report on Tuesday, July 18th. Cowen and Company restated a “market perform” rating and set a $63.00 price target (up previously from $62.00) on shares of Nucor Corporation in a report on Tuesday, July 25th. Jefferies Group LLC restated a “buy” rating and set a $75.00 price target (down previously from $77.00) on shares of Nucor Corporation in a report on Wednesday, April 19th. Zacks Investment Research downgraded Nucor Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th. Finally, Credit Suisse Group raised Nucor Corporation from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $56.00 to $68.00 in a research report on Wednesday, May 24th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $68.76.

In other Nucor Corporation news, Chairman John J. Ferriola sold 14,941 shares of Nucor Corporation stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $60.17, for a total value of $898,999.97. Following the completion of the transaction, the chairman now directly owns 361,847 shares in the company, valued at $21,772,333.99. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider David A. Sumoski sold 2,537 shares of Nucor Corporation stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $61.66, for a total value of $156,431.42. Following the sale, the insider now directly owns 62,434 shares in the company, valued at approximately $3,849,680.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,104 shares of company stock valued at $1,213,595. 0.70% of the stock is currently owned by insiders.

About Nucor Corporation

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).

Institutional Ownership by Quarter for Nucor Corporation (NYSE:NUE)

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