UMB Bank N A MO Buys 36,368 Shares of Nucor Corp. (NUE)
UMB Bank N A MO increased its stake in Nucor Corp. (NYSE:NUE) by 137.4% during the second quarter, Holdings Channel reports. The institutional investor 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 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NEXT Financial Group Inc increased its stake in shares of Nucor Corp. by 4.5% in the second quarter. NEXT Financial Group Inc now owns 2,310 shares of the company’s stock valued at $114,000 after buying an additional 100 shares during the last quarter. Brookfield Asset Management Inc. purchased a new stake in shares of Nucor Corp. during the first quarter valued at about $147,000. Kanaly Trust Co increased its stake in shares of Nucor Corp. by 0.5% in the second quarter. Kanaly Trust Co now owns 3,326 shares of the company’s stock valued at $164,000 after buying an additional 15 shares during the last quarter. Acrospire Investment Management LLC purchased a new stake in shares of Nucor Corp. during the first quarter valued at about $170,000. Finally, Parasol Investment Management LLC increased its stake in shares of Nucor Corp. by 13.2% in the second quarter. Parasol Investment Management LLC now owns 4,293 shares of the company’s stock valued at $212,000 after buying an additional 500 shares during the last quarter. Institutional investors own 77.92% of the company’s stock.
Shares of Nucor Corp. (NYSE:NUE) traded up 0.02% during midday trading on Thursday, hitting $47.87. 2,252,253 shares of the stock were exchanged. Nucor Corp. has a 12 month low of $33.90 and a 12 month high of $57.08. The company has a market cap of $15.24 billion, a PE ratio of 32.81 and a beta of 1.48. The stock has a 50 day moving average price of $49.53 and a 200-day moving average price of $49.36.
Nucor Corp. (NYSE:NUE) last released its earnings results on Thursday, July 21st. The company reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.03. The company had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.49 billion. Nucor Corp. had a net margin of 3.00% and a return on equity of 8.58%. On average, analysts predict that Nucor Corp. will post $2.71 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.375 per share. The ex-dividend date is Wednesday, September 28th. This represents a $1.50 dividend on an annualized basis and a yield of 3.13%. Nucor Corp.’s dividend payout ratio (DPR) is presently 102.04%.
Several brokerages have issued reports on NUE. Bank of America Corp. downgraded shares of Nucor Corp. from a “buy” rating to a “neutral” rating and set a $56.00 price objective for the company. in a research note on Wednesday, July 20th. Argus raised shares of Nucor Corp. from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Friday, June 24th. BMO Capital Markets set a $51.00 price objective on shares of Nucor Corp. and gave the stock a “hold” rating in a research note on Wednesday, September 14th. Barclays PLC raised their price objective on shares of Nucor Corp. from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 12th. Finally, Citigroup Inc. began coverage on shares of Nucor Corp. in a research note on Monday, August 22nd. They issued a “neutral” rating and a $55.00 price objective for the company. One analyst has rated the stock with a sell rating, ten have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $53.14.
In other Nucor Corp. news, CFO James D. Frias sold 9,000 shares of the stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $53.14, for a total transaction of $478,260.00. Following the sale, the chief financial officer now directly owns 156,065 shares in the company, valued at approximately $8,293,294.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman John J. Ferriola sold 12,128 shares of the stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $54.12, for a total transaction of $656,367.36. Following the sale, the chairman now owns 354,420 shares in the company, valued at $19,181,210.40. The disclosure for this sale can be found here. Company insiders own 0.63% of the company’s stock.
About Nucor Corp.
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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