Schwab Charles Investment Management Inc. raised its position in shares of Nucor Corporation (NYSE:NUE) by 4.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,151,599 shares of the basic materials company’s stock after buying an additional 48,821 shares during the period. Schwab Charles Investment Management Inc. owned 0.36% of Nucor Corporation worth $66,644,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Canada Pension Plan Investment Board raised its position in shares of Nucor Corporation by 2.4% in the second quarter. Canada Pension Plan Investment Board now owns 859,969 shares of the basic materials company’s stock valued at $49,766,000 after buying an additional 19,827 shares during the period. Trexquant Investment LP purchased a new position in shares of Nucor Corporation during the second quarter valued at $305,000. Solaris Asset Management LLC raised its position in shares of Nucor Corporation by 17.7% in the second quarter. Solaris Asset Management LLC now owns 60,271 shares of the basic materials company’s stock valued at $3,488,000 after buying an additional 9,074 shares during the period. Global X Management Co. LLC raised its position in shares of Nucor Corporation by 67.1% in the second quarter. Global X Management Co. LLC now owns 9,989 shares of the basic materials company’s stock valued at $578,000 after buying an additional 4,012 shares during the period. Finally, Pioneer Investment Management Inc. raised its position in shares of Nucor Corporation by 437.2% in the second quarter. Pioneer Investment Management Inc. now owns 1,813,506 shares of the basic materials company’s stock valued at $104,947,000 after buying an additional 1,475,935 shares during the period. 75.99% of the stock is owned by institutional investors.

Shares of Nucor Corporation (NYSE NUE) opened at 54.71 on Friday. The company has a market cap of $17.48 billion, a price-to-earnings ratio of 15.36 and a beta of 1.51. Nucor Corporation has a 1-year low of $44.81 and a 1-year high of $68.00. The company’s 50-day moving average price is $57.51 and its 200 day moving average price is $59.22.

Nucor Corporation (NYSE:NUE) last released its quarterly earnings data on Thursday, July 20th. The basic materials company reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by $0.06. Nucor Corporation had a net margin of 6.08% and a return on equity of 13.39%. The firm had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.08 billion. During the same period in the previous year, the firm posted $0.73 EPS. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. On average, analysts predict that Nucor Corporation will post $4.17 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Friday, June 30th were issued a $0.3775 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $1.51 dividend on an annualized basis and a yield of 2.76%. Nucor Corporation’s payout ratio is 43.77%.

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Several brokerages have weighed in on NUE. Cowen and Company reissued a “market perform” rating and set a $63.00 price objective (up from $62.00) on shares of Nucor Corporation in a report on Tuesday, July 25th. BidaskClub raised Nucor Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Barclays PLC reissued a “buy” rating and set a $73.00 price objective on shares of Nucor Corporation in a report on Friday, May 5th. Morgan Stanley reissued a “buy” rating on shares of Nucor Corporation in a report on Tuesday, July 18th. Finally, Longbow Research began coverage on Nucor Corporation in a report on Tuesday, May 9th. They set a “neutral” rating for the company. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. Nucor Corporation currently has a consensus rating of “Buy” and an average price target of $68.76.

In other Nucor Corporation news, insider Leon J. Topalian sold 2,626 shares of Nucor Corporation stock in a transaction on Monday, July 24th. The shares were sold at an average price of $60.23, for a total value of $158,163.98. Following the completion of the transaction, the insider now owns 19,610 shares of the company’s stock, valued at $1,181,110.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David A. Sumoski sold 2,537 shares of Nucor Corporation stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $61.66, for a total transaction of $156,431.42. Following the completion of the transaction, the insider now directly owns 62,434 shares of the company’s stock, valued at approximately $3,849,680.44. The disclosure for this sale can be found here. Insiders sold 20,104 shares of company stock valued at $1,213,595 in the last ninety days. 0.70% of the stock is owned by corporate insiders.

Nucor Corporation Company Profile

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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