Sii Investments Inc. WI Has $2.80 Million Position in Nucor Corporation (NUE)
Sii Investments Inc. WI lessened its stake in shares of Nucor Corporation (NYSE:NUE) by 1.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,316 shares of the basic materials company’s stock after selling 841 shares during the period. Sii Investments Inc. WI’s holdings in Nucor Corporation were worth $2,796,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. UBS Asset Management Americas Inc. boosted its holdings in Nucor Corporation by 12.7% in the first quarter. UBS Asset Management Americas Inc. now owns 1,016,735 shares of the basic materials company’s stock worth $60,719,000 after acquiring an additional 114,617 shares in the last quarter. Oxford Asset Management purchased a new stake in shares of Nucor Corporation in the first quarter worth $426,000. Beacon Trust Co. grew its stake in shares of Nucor Corporation by 3.5% in the first quarter. Beacon Trust Co. now owns 5,528 shares of the basic materials company’s stock worth $346,000 after acquiring an additional 185 shares during the last quarter. Savant Capital LLC grew its stake in shares of Nucor Corporation by 1.3% in the first quarter. Savant Capital LLC now owns 4,281 shares of the basic materials company’s stock worth $256,000 after acquiring an additional 55 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its stake in shares of Nucor Corporation by 20.5% in the first quarter. Ameritas Investment Partners Inc. now owns 17,652 shares of the basic materials company’s stock worth $1,054,000 after acquiring an additional 3,006 shares during the last quarter. 74.86% of the stock is owned by institutional investors.
In related news, Chairman John J. Ferriola sold 14,941 shares of the company’s 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Leon J. Topalian sold 2,626 shares of the company’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $60.23, for a total value of $158,163.98. Following the completion of the transaction, the insider now directly owns 19,610 shares in the company, valued at $1,181,110.30. The disclosure for this sale can be found here. Insiders have sold 22,604 shares of company stock valued at $1,351,495 over the last quarter. Insiders own 0.70% of the company’s stock.
Nucor Corporation (NYSE:NUE) traded down 0.87% during mid-day trading on Tuesday, reaching $55.56. The company had a trading volume of 774,253 shares. Nucor Corporation has a 52 week low of $45.30 and a 52 week high of $68.00. The stock’s 50-day moving average price is $54.81 and its 200 day moving average price is $57.86. The firm has a market capitalization of $17.75 billion, a PE ratio of 15.60 and a beta of 1.54.
Nucor Corporation (NYSE:NUE) last issued its quarterly earnings results on Thursday, July 20th. The basic materials company reported $1.00 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.06 by ($0.06). The company had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.08 billion. Nucor Corporation had a net margin of 6.08% and a return on equity of 13.39%. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 EPS. On average, equities research analysts predict that Nucor Corporation will post $3.92 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.3775 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.51 annualized dividend and a dividend yield of 2.69%. Nucor Corporation’s payout ratio is currently 43.77%.
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NUE has been the topic of a number of analyst reports. Longbow Research cut shares of Nucor Corporation from a “buy” rating to a “neutral” rating and upped their price target for the stock from $55.01 to $56.04 in a research note on Monday. Credit Suisse Group reduced their price objective on shares of Nucor Corporation from $68.00 to $63.00 and set a “buy” rating for the company in a research note on Thursday, September 28th. 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. ValuEngine cut shares of Nucor Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Jefferies Group LLC set a $68.00 target price on shares of Nucor Corporation and gave the stock a “buy” rating in a report on Monday, August 21st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $67.12.
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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