Gilman Hill Asset Management LLC Has $337,000 Position in Nucor Co. (NUE)
Gilman Hill Asset Management LLC increased its position in Nucor Co. (NYSE:NUE) by 5.0% during the first quarter, HoldingsChannel reports. The firm owned 5,775 shares of the basic materials company’s stock after acquiring an additional 275 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Nucor were worth $337,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Exane Derivatives boosted its stake in Nucor by 2,629.3% in the 1st quarter. Exane Derivatives now owns 63,565 shares of the basic materials company’s stock worth $3,708,000 after purchasing an additional 61,236 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Nucor in the 1st quarter worth about $716,000. Advisor Partners LLC boosted its stake in Nucor by 6.0% in the 1st quarter. Advisor Partners LLC now owns 5,517 shares of the basic materials company’s stock worth $322,000 after purchasing an additional 312 shares in the last quarter. Monte Financial Group LLC boosted its stake in Nucor by 3.0% in the 1st quarter. Monte Financial Group LLC now owns 42,220 shares of the basic materials company’s stock worth $2,464,000 after purchasing an additional 1,248 shares in the last quarter. Finally, Investors Research Corp bought a new position in Nucor in the 1st quarter worth about $190,000. Institutional investors own 78.78% of the company’s stock.
In other Nucor news, Chairman John J. Ferriola sold 87,719 shares of the business’s stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $60.35, for a total value of $5,293,841.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.96% of the stock is currently owned by insiders.
Nucor (NYSE:NUE) last issued its earnings results on Tuesday, April 23rd. The basic materials company reported $1.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.50 by $0.05. Nucor had a return on equity of 24.86% and a net margin of 9.80%. The business had revenue of $6.10 billion during the quarter, compared to analyst estimates of $6.05 billion. During the same quarter in the previous year, the firm earned $1.17 EPS. Nucor’s revenue was up 9.5% on a year-over-year basis. Sell-side analysts forecast that Nucor Co. will post 5.89 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, March 29th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Thursday, March 28th. Nucor’s dividend payout ratio (DPR) is 21.00%.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research cut shares of Nucor from a “hold” rating to a “strong sell” rating in a research note on Friday, February 1st. Longbow Research cut shares of Nucor from a “buy” rating to a “neutral” rating in a research note on Monday, March 11th. ValuEngine cut shares of Nucor from a “hold” rating to a “sell” rating in a research note on Thursday, February 14th. Credit Suisse Group upgraded shares of Nucor from a “neutral” rating to an “outperform” rating in a research note on Tuesday, January 8th. Finally, Cowen began coverage on Nucor in a research report on Tuesday, January 8th. They issued an “outperform” rating and a $62.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $70.56.
Nucor Company Profile
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. It operates in three segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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