Verity Asset Management Inc. Has $358,000 Position in Nucor Corporation (NUE)
Verity Asset Management Inc. increased its stake in shares of Nucor Corporation (NYSE:NUE) by 12.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,180 shares of the basic materials company’s stock after buying an additional 670 shares during the quarter. Verity Asset Management Inc.’s holdings in Nucor Corporation were worth $358,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. Accredited Investors Inc. lifted its position in Nucor Corporation by 0.6% during the first quarter. Accredited Investors Inc. now owns 3,892 shares of the basic materials company’s stock worth $232,000 after buying an additional 24 shares in the last quarter. FineMark National Bank & Trust lifted its position in Nucor Corporation by 0.3% during the second quarter. FineMark National Bank & Trust now owns 9,699 shares of the basic materials company’s stock worth $561,000 after buying an additional 26 shares in the last quarter. Cleararc Capital Inc. lifted its position in Nucor Corporation by 0.5% during the first quarter. Cleararc Capital Inc. now owns 7,795 shares of the basic materials company’s stock worth $466,000 after buying an additional 35 shares in the last quarter. ING Groep NV lifted its position in Nucor Corporation by 0.3% during the second quarter. ING Groep NV now owns 16,591 shares of the basic materials company’s stock worth $960,000 after buying an additional 43 shares in the last quarter. Finally, First Command Bank lifted its position in Nucor Corporation by 1.5% during the second quarter. First Command Bank now owns 2,905 shares of the basic materials company’s stock worth $169,000 after buying an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 75.00% of the company’s stock.
Shares of Nucor Corporation (NUE) traded down 0.85% during midday trading on Friday, hitting $53.50. The stock had a trading volume of 3,595,327 shares. Nucor Corporation has a 12-month low of $45.30 and a 12-month high of $68.00. The stock has a 50-day moving average price of $55.44 and a 200-day moving average price of $58.47. The stock has a market cap of $17.09 billion, a P/E ratio of 15.02 and a beta of 1.53.
Nucor Corporation (NYSE:NUE) last issued its earnings results on Thursday, July 20th. The basic materials company reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.06). The firm had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.08 billion. Nucor Corporation had a return on equity of 13.39% and a net margin of 6.08%. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period last year, the business posted $0.73 earnings per share. Equities analysts forecast that Nucor Corporation will post $4.08 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Friday, September 29th will be given a $0.3775 dividend. This represents a $1.51 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Thursday, September 28th. Nucor Corporation’s dividend payout ratio (DPR) is currently 43.77%.
In related news, Chairman John J. Ferriola sold 14,941 shares of the stock in a transaction 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 transaction, the chairman now directly owns 361,847 shares of the company’s stock, valued at approximately $21,772,333.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider David A. Sumoski sold 2,537 shares of the stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $61.66, for a total value of $156,431.42. Following the completion of the transaction, the insider now directly owns 62,434 shares in the company, valued at $3,849,680.44. The disclosure for this sale can be found here. Insiders sold a total of 20,104 shares of company stock worth $1,213,595 over the last ninety days. Corporate insiders own 0.70% of the company’s stock.
A number of equities analysts recently commented on the company. Cowen and Company reiterated a “market perform” rating and set a $63.00 price objective (up previously from $62.00) on shares of Nucor Corporation in a research report on Tuesday, July 25th. BidaskClub upgraded Nucor Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Morgan Stanley restated a “buy” rating on shares of Nucor Corporation in a research report on Tuesday, July 18th. Zacks Investment Research downgraded Nucor Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Finally, Berenberg Bank restated a “buy” rating and issued a $77.50 target price on shares of Nucor Corporation in a research report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $68.47.
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).
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