Nucor Corporation (NUE) Holdings Held by Icon Advisers Inc. Co.
Icon Advisers Inc. Co. continued to hold its stake in shares of Nucor Corporation (NYSE:NUE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,000 shares of the basic materials company’s stock at the end of the 2nd quarter. Icon Advisers Inc. Co.’s holdings in Nucor Corporation were worth $463,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of NUE. Chicago Equity Partners LLC bought a new stake in Nucor Corporation in the 1st quarter valued at about $201,000. UBS Asset Management Americas Inc. lifted its position in Nucor Corporation by 12.7% in the 1st quarter. UBS Asset Management Americas Inc. now owns 1,016,735 shares of the basic materials company’s stock valued at $60,719,000 after purchasing an additional 114,617 shares during the last quarter. British Columbia Investment Management Corp lifted its position in Nucor Corporation by 30.6% in the 1st quarter. British Columbia Investment Management Corp now owns 256,656 shares of the basic materials company’s stock valued at $15,327,000 after purchasing an additional 60,126 shares during the last quarter. RNC Capital Management LLC bought a new stake in Nucor Corporation in the 1st quarter valued at about $4,790,000. Finally, Meadow Creek Investment Management LLC lifted its position in Nucor Corporation by 1.1% in the 1st quarter. Meadow Creek Investment Management LLC now owns 47,430 shares of the basic materials company’s stock valued at $2,833,000 after purchasing an additional 510 shares during the last quarter. Hedge funds and other institutional investors own 74.86% of the company’s stock.
Nucor Corporation (NUE) opened at 54.27 on Tuesday. Nucor Corporation has a 52 week low of $45.30 and a 52 week high of $68.00. The stock has a 50 day moving average of $55.35 and a 200 day moving average of $58.34. The firm has a market cap of $17.34 billion, a PE ratio of 15.24 and a beta of 1.53.
Nucor Corporation (NYSE:NUE) last released its earnings results on Thursday, July 20th. The basic materials company reported $1.00 earnings per share (EPS) 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 business had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.08 billion. During the same quarter in the previous year, the company posted $0.73 earnings per share. The business’s revenue for the quarter was up 21.9% on a year-over-year basis. Analysts anticipate that Nucor Corporation will post $4.08 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Friday, September 29th will be given a dividend of $0.3775 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.51 dividend on an annualized basis and a yield of 2.78%. Nucor Corporation’s payout ratio is presently 43.77%.
In related news, Chairman John J. Ferriola sold 14,941 shares of the stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $60.17, for a total value of $898,999.97. Following the sale, the chairman now directly owns 361,847 shares in the company, valued at approximately $21,772,333.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David A. Sumoski sold 2,537 shares of the stock in a transaction that occurred 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 sale, the insider now owns 62,434 shares in the company, valued at $3,849,680.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,104 shares of company stock worth $1,213,595. Corporate insiders own 0.70% of the company’s stock.
Several analysts recently weighed in on NUE shares. Credit Suisse Group upgraded shares of Nucor Corporation from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $56.00 to $68.00 in a research report on Wednesday, May 24th. BidaskClub upgraded shares of Nucor Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. ValuEngine downgraded shares of Nucor Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 16th. Longbow Research upgraded shares of Nucor Corporation from a “neutral” rating to a “buy” rating in a research report on Monday, June 19th. Finally, KeyCorp restated an “overweight” rating and set a $66.00 price target (down from $72.00) on shares of Nucor Corporation in a research report on Monday, June 26th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the stock. Nucor Corporation currently has an average rating of “Buy” and a consensus price target of $68.00.
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).
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