Williams Jones & Associates LLC Reduces Stake in Nucor Corporation (NUE)
Williams Jones & Associates LLC trimmed its stake in Nucor Corporation (NYSE:NUE) by 2.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,785 shares of the basic materials company’s stock after selling 1,752 shares during the quarter. Williams Jones & Associates LLC’s holdings in Nucor Corporation were worth $3,344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Mckinley Capital Management LLC Delaware acquired a new stake in shares of Nucor Corporation during the second quarter worth approximately $100,000. Washington Trust Bank grew its position in Nucor Corporation by 60.2% during 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. purchased a new position in Nucor Corporation during the second quarter valued at approximately $109,000. Sun Life Financial INC grew its position in Nucor Corporation by 23,290.0% during the second quarter. Sun Life Financial INC now owns 2,339 shares of the basic materials company’s stock valued at $135,000 after purchasing an additional 2,329 shares in the last quarter. Finally, Valley National Advisers Inc. grew its position in Nucor Corporation by 12.0% during the first quarter. Valley National Advisers Inc. now owns 2,340 shares of the basic materials company’s stock valued at $140,000 after purchasing an additional 250 shares in the last quarter. 74.86% of the stock is owned by institutional investors and hedge funds.
Nucor Corporation (NUE) traded down 0.43% during midday trading on Tuesday, reaching $55.81. The company had a trading volume of 567,162 shares. The company has a market cap of $17.83 billion, a PE ratio of 15.67 and a beta of 1.54. The company’s 50-day moving average is $54.81 and its 200 day moving average is $57.86. Nucor Corporation has a 52-week low of $45.30 and a 52-week high of $68.00.
Nucor Corporation (NYSE:NUE) last announced its quarterly earnings data 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). The company had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $5.08 billion. Nucor Corporation had a return on equity of 13.39% and a net margin of 6.08%. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.73 EPS. On average, equities research analysts forecast that Nucor Corporation will post $3.92 EPS for the current year.
The company 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 $0.3775 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.51 annualized dividend and a dividend yield of 2.69%. Nucor Corporation’s dividend payout ratio is presently 43.77%.
NUE has been the topic of several research reports. Cowen and Company reiterated a “market perform” rating and issued a $63.00 price objective (up previously from $62.00) on shares of Nucor Corporation in a research note on Tuesday, July 25th. Morgan Stanley reissued a “buy” rating on shares of Nucor Corporation in a research note on Tuesday, July 18th. 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. BMO Capital Markets restated a “market perform” rating and set a $62.00 price target (down from $70.00) on shares of Nucor Corporation in a report on Monday, September 18th. Finally, Jefferies Group LLC restated a “buy” rating on shares of Nucor Corporation in a report on Friday, June 30th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $67.12.
In other Nucor Corporation news, insider David A. Sumoski sold 2,537 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 62,434 shares of the company’s stock, valued at $3,849,680.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Victoria F. Haynes sold 2,500 shares of the company’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $55.16, for a total transaction of $137,900.00. Following the sale, the director now directly owns 33,573 shares in the company, valued at $1,851,886.68. The disclosure for this sale can be found here. Insiders sold 22,604 shares of company stock valued at $1,351,495 over the last three months. 0.70% of the stock is owned by company insiders.
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).
Receive News & Stock Ratings for Nucor Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor Corporation and related stocks with our FREE daily email newsletter.