Nucor Corporation (NUE) Position Increased by Segment Wealth Management LLC
Segment Wealth Management LLC boosted its stake in Nucor Corporation (NYSE:NUE) by 3.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,140 shares of the basic materials company’s stock after buying an additional 132 shares during the quarter. Segment Wealth Management LLC’s holdings in Nucor Corporation were worth $240,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Northern Trust Corp boosted its stake in Nucor Corporation by 15.0% in the 2nd quarter. Northern Trust Corp now owns 5,759,017 shares of the basic materials company’s stock valued at $333,275,000 after buying an additional 750,796 shares in the last quarter. D.A. Davidson & CO. boosted its stake in Nucor Corporation by 6.8% in the 2nd quarter. D.A. Davidson & CO. now owns 62,722 shares of the basic materials company’s stock valued at $3,629,000 after buying an additional 4,019 shares in the last quarter. Pinebridge Investments L.P. boosted its stake in Nucor Corporation by 2.4% in the 2nd quarter. Pinebridge Investments L.P. now owns 83,931 shares of the basic materials company’s stock valued at $4,857,000 after buying an additional 1,936 shares in the last quarter. Trustmark National Bank Trust Department boosted its stake in Nucor Corporation by 325.5% in the 2nd quarter. Trustmark National Bank Trust Department now owns 61,781 shares of the basic materials company’s stock valued at $3,575,000 after buying an additional 47,261 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in Nucor Corporation by 10.0% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,118,061 shares of the basic materials company’s stock valued at $64,702,000 after buying an additional 101,326 shares in the last quarter. 74.86% of the stock is currently owned by institutional investors and hedge funds.
In related news, Chairman John J. Ferriola sold 14,941 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $60.17, for a total transaction of $898,999.97. Following the sale, the chairman now owns 361,847 shares of the company’s stock, valued at approximately $21,772,333.99. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Victoria F. Haynes sold 2,500 shares of the firm’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $55.16, for a total value of $137,900.00. Following the sale, the director now directly owns 33,573 shares in the company, valued at approximately $1,851,886.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,604 shares of company stock worth $1,351,495. 0.70% of the stock is currently owned by company insiders.
Several analysts recently commented on the company. BidaskClub raised Nucor Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Zacks Investment Research lowered Nucor Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. KeyCorp reaffirmed an “overweight” rating and issued a $66.00 price target (down previously from $72.00) on shares of Nucor Corporation in a research note on Monday, June 26th. ValuEngine downgraded Nucor Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Longbow Research upgraded Nucor Corporation from a “neutral” rating to a “buy” rating in a research report on Monday, June 19th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. Nucor Corporation currently has an average rating of “Hold” and a consensus target price of $68.00.
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Nucor Corporation (NUE) traded down 0.44% during midday trading on Friday, hitting $54.27. The stock had a trading volume of 383,086 shares. The company has a market capitalization of $17.34 billion, a PE ratio of 15.24 and a beta of 1.53. Nucor Corporation has a 52 week low of $45.30 and a 52 week high of $68.00. The company’s 50-day moving average price is $55.28 and its 200 day moving average price is $58.29.
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 the Thomson Reuters’ 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 firm had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.08 billion. During the same period last year, the business earned $0.73 EPS. The company’s revenue was up 21.9% compared to the same quarter last year. On average, analysts expect that Nucor Corporation will post $3.96 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Friday, September 29th will be issued a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Thursday, September 28th. Nucor Corporation’s dividend payout ratio (DPR) is 43.77%.
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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