Bowen Hanes & Co. Inc. cut its position in shares of Nucor Corporation (NYSE:NUE) by 11.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 230,000 shares of the basic materials company’s stock after selling 30,000 shares during the period. Bowen Hanes & Co. Inc.’s holdings in Nucor Corporation were worth $13,310,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Stratos Wealth Partners LTD. raised its position in Nucor Corporation by 37.0% in the second quarter. Stratos Wealth Partners LTD. now owns 12,449 shares of the basic materials company’s stock worth $720,000 after buying an additional 3,364 shares in the last quarter. River Wealth Advisors LLC raised its position in Nucor Corporation by 3.8% in the second quarter. River Wealth Advisors LLC now owns 18,307 shares of the basic materials company’s stock worth $1,059,000 after buying an additional 668 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Nucor Corporation by 6.4% in the second quarter. Daiwa Securities Group Inc. now owns 280,050 shares of the basic materials company’s stock worth $16,206,000 after buying an additional 16,900 shares in the last quarter. Investment Counselors of Maryland LLC raised its position in Nucor Corporation by 1.9% in the second quarter. Investment Counselors of Maryland LLC now owns 21,725 shares of the basic materials company’s stock worth $1,257,000 after buying an additional 400 shares in the last quarter. Finally, Grove Bank & Trust raised its position in Nucor Corporation by 80.3% in the second quarter. Grove Bank & Trust now owns 6,835 shares of the basic materials company’s stock worth $395,000 after buying an additional 3,045 shares in the last quarter. Institutional investors own 76.44% of the company’s stock.

Shares of Nucor Corporation (NYSE NUE) opened at 57.48 on Friday. The company’s 50-day moving average is $58.35 and its 200-day moving average is $59.71. The stock has a market cap of $18.42 billion, a P/E ratio of 16.14 and a beta of 1.51. Nucor Corporation has a 12-month low of $44.81 and a 12-month high of $68.00.

Nucor Corporation (NYSE:NUE) last released its earnings results on Thursday, July 20th. The basic materials company reported $1.00 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by $0.06. The company had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.08 billion. Nucor Corporation had a net margin of 6.08% and a return on equity of 13.39%. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.73 EPS. On average, analysts expect that Nucor Corporation will post $4.18 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 11th. Shareholders of record on Friday, June 30th will be paid a dividend of $0.3775 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $1.51 annualized dividend and a yield of 2.63%. Nucor Corporation’s payout ratio is 43.77%.

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A number of research firms have commented on NUE. BidaskClub lowered shares of Nucor Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Longbow Research restated a “buy” rating and issued a $66.00 price objective on shares of Nucor Corporation in a research note on Thursday, July 27th. Cowen and Company reiterated a “market perform” rating and set a $63.00 price target (up from $62.00) on shares of Nucor Corporation in a research note on Tuesday, July 25th. Zacks Investment Research lowered shares of Nucor Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, Berenberg Bank reiterated a “buy” rating and set a $77.50 price target on shares of Nucor Corporation in a research note on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $68.76.

In other Nucor Corporation news, Chairman John J. Ferriola sold 14,941 shares of the firm’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $60.17, for a total transaction of $898,999.97. Following the transaction, the chairman now owns 361,847 shares of the company’s stock, valued at approximately $21,772,333.99. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider David A. Sumoski sold 2,537 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $61.66, for a total transaction of $156,431.42. Following the transaction, the insider now directly owns 62,434 shares in the company, valued at approximately $3,849,680.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,104 shares of company stock worth $1,213,595. 0.70% of the stock is owned by corporate insiders.

Nucor Corporation Company 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).

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Institutional Ownership by Quarter for Nucor Corporation (NYSE:NUE)

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