Nucor Corporation (NYSE:NUE) Stake Raised by Tdam USA Inc.
Tdam USA Inc. raised its position in Nucor Corporation (NYSE:NUE) by 27.9% during the second quarter, Holdings Channel reports. The firm owned 5,784 shares of the basic materials company’s stock after buying an additional 1,263 shares during the period. Tdam USA Inc.’s holdings in Nucor Corporation were worth $336,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of NUE. Achmea Investment Management B.V. acquired a new stake in shares of Nucor Corporation during the first quarter worth about $4,047,000. Main Street Research LLC increased its stake in shares of Nucor Corporation by 1.4% in the first quarter. Main Street Research LLC now owns 184,720 shares of the basic materials company’s stock worth $11,031,000 after buying an additional 2,489 shares during the period. Suntrust Banks Inc. increased its stake in shares of Nucor Corporation by 5.3% in the first quarter. Suntrust Banks Inc. now owns 148,786 shares of the basic materials company’s stock worth $8,884,000 after buying an additional 7,440 shares during the period. Legal & General Group Plc increased its stake in shares of Nucor Corporation by 2.5% in the first quarter. Legal & General Group Plc now owns 1,590,410 shares of the basic materials company’s stock worth $94,975,000 after buying an additional 38,454 shares during the period. Finally, Savant Capital LLC increased its stake in shares of Nucor Corporation by 1.3% in the first quarter. Savant Capital LLC now owns 4,281 shares of the basic materials company’s stock worth $256,000 after buying an additional 55 shares during the period. Institutional investors own 76.57% of the company’s stock.
Nucor Corporation (NYSE:NUE) opened at 57.14 on Thursday. The stock’s 50 day moving average price is $58.44 and its 200-day moving average price is $59.57. Nucor Corporation has a 52 week low of $44.81 and a 52 week high of $68.00. The company has a market capitalization of $18.31 billion, a PE ratio of 16.04 and a beta of 1.51. Nucor Corporation also was the target of unusually large options trading activity on Monday. Investors bought 10,201 put options on the stock. This represents an increase of approximately 501% compared to the typical daily volume of 1,697 put options.
Nucor Corporation (NYSE:NUE) last announced its quarterly earnings results on Thursday, July 20th. The basic materials company reported $1.00 EPS for the quarter, missing the consensus estimate of $1.06 by $0.06. The company had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.08 billion. Nucor Corporation had a return on equity of 13.39% and a net margin of 6.08%. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.73 EPS. On average, equities research analysts predict that Nucor Corporation will post $4.18 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 11th. Stockholders of record on Friday, June 30th will be given a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Wednesday, June 28th. Nucor Corporation’s dividend payout ratio is 43.77%.
A number of equities research analysts recently issued reports on NUE shares. Jefferies Group LLC reiterated a “buy” rating and issued a $68.00 price objective on shares of Nucor Corporation in a research report on Wednesday, July 19th. Longbow Research reissued a “buy” rating and issued a $66.00 target price on shares of Nucor Corporation in a research note on Thursday, July 27th. ValuEngine cut Nucor Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 16th. KeyCorp reissued an “overweight” rating and issued a $66.00 target price (down previously from $72.00) on shares of Nucor Corporation in a research note on Monday, June 26th. Finally, Barclays PLC reissued a “buy” rating and issued a $73.00 target price on shares of Nucor Corporation in a research note on Friday, May 5th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $68.76.
In other news, insider Leon J. Topalian sold 2,626 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $60.23, for a total transaction of $158,163.98. Following the sale, the insider now directly owns 19,610 shares in the company, valued at approximately $1,181,110.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David A. Sumoski sold 2,537 shares of the company’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 sale, the insider now owns 62,434 shares in the company, valued at $3,849,680.44. The disclosure for this sale can be found here. Insiders have sold a total of 20,104 shares of company stock worth $1,213,595 over the last 90 days. Corporate insiders own 0.70% of the company’s stock.
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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