Mckinley Capital Management LLC Delaware bought a new position in Nucor Corporation (NYSE:NUE) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,720 shares of the basic materials company’s stock, valued at approximately $100,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Washington Trust Bank increased its holdings in shares of Nucor Corporation by 60.2% in the second quarter. Washington Trust Bank now owns 1,756 shares of the basic materials company’s stock valued at $102,000 after purchasing an additional 660 shares in the last quarter. Fiduciary Trust Co. bought a new position in Nucor Corporation in the 2nd quarter worth approximately $109,000. Valley National Advisers Inc. lifted its holdings in Nucor Corporation by 12.0% during the 1st quarter. Valley National Advisers Inc. now owns 2,340 shares of the basic materials company’s stock worth $140,000 after buying an additional 250 shares in the last quarter. First Command Bank lifted its holdings in Nucor Corporation by 1.5% during the 2nd 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. Finally, Ledyard National Bank lifted its holdings in Nucor Corporation by 56.2% during the 2nd quarter. Ledyard National Bank now owns 3,195 shares of the basic materials company’s stock worth $185,000 after buying an additional 1,150 shares in the last quarter. 74.86% of the stock is owned by institutional investors.

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Shares of Nucor Corporation (NUE) opened at 56.05 on Tuesday. Nucor Corporation has a 12 month low of $45.30 and a 12 month high of $68.00. The stock’s 50 day moving average is $54.81 and its 200 day moving average is $57.86. The company has a market cap of $17.90 billion, a P/E ratio of 15.74 and a beta of 1.54.

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 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 company had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.08 billion. During the same quarter in the prior year, the firm earned $0.73 EPS. The business’s revenue was up 21.9% compared to the same quarter last year. On average, analysts anticipate that Nucor Corporation will post $3.92 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Friday, September 29th will be paid a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a yield of 2.69%. The ex-dividend date is Thursday, September 28th. Nucor Corporation’s dividend payout ratio is presently 43.77%.

In other Nucor Corporation news, Director Victoria F. Haynes sold 2,500 shares of Nucor Corporation 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 completion of the sale, the director now directly owns 33,573 shares of the company’s stock, valued at $1,851,886.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman John J. Ferriola sold 14,941 shares of Nucor Corporation stock in a transaction on Monday, July 24th. The shares were sold at an average price of $60.17, for a total transaction of $898,999.97. Following the completion of the sale, the chairman now directly owns 361,847 shares of the company’s stock, valued at $21,772,333.99. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,604 shares of company stock worth $1,351,495. 0.70% of the stock is owned by insiders.

Several brokerages have recently issued reports on NUE. Longbow Research lowered Nucor Corporation from a “buy” rating to a “neutral” rating and upped their price target for the company from $55.01 to $56.04 in a research note on Monday. Zacks Investment Research lowered shares of Nucor Corporation from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 26th. Credit Suisse Group lowered their price target on shares of Nucor Corporation from $68.00 to $63.00 and set a “buy” rating for the company in a research report on Thursday, September 28th. ValuEngine cut shares of Nucor Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Jefferies Group LLC set a $68.00 price target on shares of Nucor Corporation and gave the stock a “buy” rating in a research note on Monday, August 21st. Two investment 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 a consensus price target of $67.12.

Nucor Corporation 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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Institutional Ownership by Quarter for Nucor Corporation (NYSE:NUE)

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