Nucor Corporation (NUE) Holdings Increased by Hillsdale Investment Management Inc.
Hillsdale Investment Management Inc. raised its holdings in Nucor Corporation (NYSE:NUE) by 2.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 5,530 shares of the basic materials company’s stock after acquiring an additional 130 shares during the period. Hillsdale Investment Management Inc.’s holdings in Nucor Corporation were worth $320,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of NUE. Accredited Investors Inc. lifted its holdings in shares of Nucor Corporation by 0.6% during the 1st quarter. Accredited Investors Inc. now owns 3,892 shares of the basic materials company’s stock worth $232,000 after acquiring an additional 24 shares during the period. FineMark National Bank & Trust boosted its position in shares of Nucor Corporation by 0.3% in the second quarter. FineMark National Bank & Trust now owns 9,699 shares of the basic materials company’s stock worth $561,000 after acquiring an additional 26 shares during the last quarter. Cleararc Capital Inc. boosted its position in shares of Nucor Corporation by 0.5% in the first quarter. Cleararc Capital Inc. now owns 7,795 shares of the basic materials company’s stock worth $466,000 after acquiring an additional 35 shares during the last quarter. ING Groep NV boosted its position in shares of Nucor Corporation by 0.3% in the second quarter. ING Groep NV now owns 16,591 shares of the basic materials company’s stock worth $960,000 after acquiring an additional 43 shares during the last quarter. Finally, First Command Bank boosted its position in shares of Nucor Corporation by 1.5% in the second quarter. First Command Bank now owns 2,905 shares of the basic materials company’s stock worth $169,000 after acquiring an additional 44 shares during the last quarter. Institutional investors own 74.86% of the company’s stock.
In other Nucor Corporation news, Director Victoria F. Haynes sold 2,500 shares of the business’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $55.16, for a total value of $137,900.00. Following the completion of the sale, the director now owns 33,573 shares of the company’s stock, valued at $1,851,886.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider David A. Sumoski sold 2,537 shares of the business’s stock in a transaction dated 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 sale, 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 have sold 22,604 shares of company stock worth $1,351,495 over the last three months. Company insiders own 0.70% of the company’s stock.
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Nucor Corporation (NUE) opened at 56.04 on Monday. Nucor Corporation has a 12-month low of $45.30 and a 12-month high of $68.00. The stock has a market cap of $17.90 billion, a PE ratio of 15.73 and a beta of 1.54. The firm has a 50-day moving average price of $55.28 and a 200-day moving average price of $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 (EPS) for the quarter, missing the 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 business had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.08 billion. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.73 EPS. Analysts forecast that Nucor Corporation will post $3.92 EPS for the current fiscal 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. This represents a $1.51 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Thursday, September 28th. Nucor Corporation’s payout ratio is 43.77%.
A number of research firms recently issued reports on NUE. Longbow Research downgraded shares of Nucor Corporation from a “buy” rating to a “neutral” rating and boosted their target price for the company from $55.01 to $56.04 in a report on Monday. Credit Suisse Group cut their price target on shares of Nucor Corporation from $68.00 to $63.00 and set a “buy” rating on the stock in a research note on Thursday. Zacks Investment Research lowered shares of Nucor Corporation from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 26th. KeyCorp reiterated a “hold” rating on shares of Nucor Corporation in a report on Tuesday, September 19th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $62.00 price objective (down from $70.00) on shares of Nucor Corporation in a research note on Monday, September 18th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $67.12.
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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