UMB Bank N A MO Buys 36,368 Shares of Nucor Corp. (NUE)
UMB Bank N A MO increased its stake in shares of Nucor Corp. (NYSE:NUE) by 137.4% during the second quarter, Holdings Channel reports. The firm owned 62,843 shares of the company’s stock after buying an additional 36,368 shares during the period. UMB Bank N A MO’s holdings in Nucor Corp. were worth $3,105,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. PGGM Investments boosted its position in shares of Nucor Corp. by 6.2% in the second quarter. PGGM Investments now owns 222,406 shares of the company’s stock valued at $10,989,000 after buying an additional 12,974 shares during the period. Strs Ohio boosted its position in Nucor Corp. by 11.5% in the second quarter. Strs Ohio now owns 15,115 shares of the company’s stock valued at $746,000 after buying an additional 1,553 shares during the last quarter. HL Financial Services LLC boosted its position in Nucor Corp. by 7.9% in the second quarter. HL Financial Services LLC now owns 5,116 shares of the company’s stock valued at $253,000 after buying an additional 373 shares during the last quarter. NewSquare Capital LLC boosted its position in Nucor Corp. by 13.9% in the second quarter. NewSquare Capital LLC now owns 16,473 shares of the company’s stock valued at $814,000 after buying an additional 2,011 shares during the last quarter. Finally, Rehmann Capital Advisory Group acquired a new position in Nucor Corp. during the second quarter valued at approximately $331,000. Institutional investors own 77.92% of the company’s stock.
Nucor Corp. (NYSE:NUE) traded up 0.02% on Thursday, hitting $47.87. The company’s stock had a trading volume of 2,252,253 shares. The firm has a market cap of $15.24 billion, a price-to-earnings ratio of 32.81 and a beta of 1.48. The firm has a 50 day moving average of $49.53 and a 200 day moving average of $49.36. Nucor Corp. has a 12 month low of $33.90 and a 12 month high of $57.08.
Nucor Corp. (NYSE:NUE) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.03. The firm earned $4.25 billion during the quarter, compared to analyst estimates of $4.49 billion. Nucor Corp. had a return on equity of 8.58% and a net margin of 3.00%. Equities research analysts forecast that Nucor Corp. will post $2.71 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, September 30th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.13%. Nucor Corp.’s payout ratio is 102.04%.
Several research firms recently commented on NUE. Bank of America Corp. cut Nucor Corp. from a “buy” rating to a “neutral” rating and set a $56.00 target price for the company. in a research report on Wednesday, July 20th. Barclays PLC boosted their target price on Nucor Corp. from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 12th. JPMorgan Chase & Co. restated a “buy” rating and set a $59.50 target price on shares of Nucor Corp. in a research report on Friday, July 22nd. Cowen and Company boosted their target price on Nucor Corp. from $50.00 to $55.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 26th. Finally, Berenberg Bank cut Nucor Corp. from a “buy” rating to a “hold” rating and set a $57.50 target price for the company. in a research report on Friday, July 22nd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $53.14.
In related news, insider James R. Darsey sold 71,465 shares of Nucor Corp. stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $52.45, for a total value of $3,748,339.25. Following the completion of the transaction, the insider now owns 234,135 shares in the company, valued at $12,280,380.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO James D. Frias sold 9,000 shares of Nucor Corp. stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $53.14, for a total value of $478,260.00. Following the completion of the transaction, the chief financial officer now owns 156,065 shares of the company’s stock, valued at approximately $8,293,294.10. The disclosure for this sale can be found here. Insiders own 0.63% of the company’s stock.
Nucor Corp. Company Profile
Nucor Corporation (Nucor) manufactures steel and steel products. The Company also produces direct reduced iron (DRI) for use in the Company’s steel mills. It also processes ferrous and nonferrous metals and brokers ferrous and nonferrous metals, pig iron, hot briquetted iron (HBI) and DRI. Nucor operates in three segments: steel mills, steel products and raw materials.
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