United Asset Strategies Inc. Acquires 19,617 Shares of Nucor Corporation (NUE)
United Asset Strategies Inc. raised its holdings in Nucor Corporation (NYSE:NUE) by 39.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,962 shares of the basic materials company’s stock after purchasing an additional 19,617 shares during the period. Nucor Corporation accounts for about 2.2% of United Asset Strategies Inc.’s holdings, making the stock its 15th biggest position. United Asset Strategies Inc.’s holdings in Nucor Corporation were worth $3,921,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Mckinley Capital Management LLC Delaware purchased a new position in shares of Nucor Corporation in the second quarter worth about $100,000. Krilogy Financial LLC increased its stake in shares of Nucor Corporation by 4,594.6% in the second quarter. Krilogy Financial LLC now owns 1,737 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 1,700 shares in the last quarter. Washington Trust Bank increased its stake 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 worth $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. Finally, Sun Life Financial INC grew its stake 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 acquiring an additional 2,329 shares in the last quarter. Hedge funds and other institutional investors own 74.75% of the company’s stock.
Shares of Nucor Corporation (NUE) traded down $0.02 on Tuesday, hitting $57.98. 1,484,759 shares of the stock were exchanged, compared to its average volume of 2,430,000. The company has a market cap of $18,460.00, a price-to-earnings ratio of 17.06, a price-to-earnings-growth ratio of 1.30 and a beta of 1.59. The company has a current ratio of 2.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.37. Nucor Corporation has a 1 year low of $50.59 and a 1 year high of $68.00.
Nucor Corporation (NYSE:NUE) last announced its quarterly earnings data on Thursday, October 19th. The basic materials company reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.01. The firm had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.19 billion. Nucor Corporation had a net margin of 5.80% and a return on equity of 12.77%. The business’s quarterly revenue was up 20.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.88 EPS. equities research analysts forecast that Nucor Corporation will post 3.72 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Friday, September 29th will be issued a $0.3775 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 2.60%. Nucor Corporation’s payout ratio is 44.02%.
NUE has been the subject of several recent analyst reports. Macquarie initiated coverage on shares of Nucor Corporation in a research note on Wednesday, September 6th. They set a “neutral” rating and a $57.00 price objective for the company. ValuEngine cut shares of Nucor Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Jefferies Group LLC set a $68.00 price objective on shares of Nucor Corporation and gave the company a “buy” rating in a research note on Monday, August 21st. Credit Suisse Group boosted their price objective on shares of Nucor Corporation from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday, October 20th. Finally, Cowen and Company boosted their price objective on shares of Nucor Corporation from $57.00 to $63.00 and gave the company a “market perform” rating in a research note on Monday, October 23rd. Two investment 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. Nucor Corporation currently has an average rating of “Hold” and a consensus price target of $67.32.
In other news, Director Victoria F. Haynes sold 2,500 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $1,851,886.68. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ladd R. Hall sold 17,583 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $57.94, for a total transaction of $1,018,759.02. Following the completion of the sale, the insider now owns 206,406 shares of the company’s stock, valued at $11,959,163.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,217 shares of company stock valued at $2,608,231. Company insiders own 0.70% of the company’s stock.
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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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