Advisor Partners LLC decreased its position in shares of Nucor Corporation (NYSE:NUE) by 14.3% during the second quarter, Holdings Channel reports. The fund owned 4,490 shares of the basic materials company’s stock after selling 752 shares during the period. Advisor Partners LLC’s holdings in Nucor Corporation were worth $260,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Achmea Investment Management B.V. bought a new position in Nucor Corporation during the first quarter worth about $4,047,000. Main Street Research LLC increased its position in 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 last quarter. Suntrust Banks Inc. increased its position in 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 last quarter. Legal & General Group Plc increased its position in 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 last quarter. Finally, Savant Capital LLC increased its position in 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 last quarter. Institutional investors own 76.57% of the company’s stock.

Nucor Corporation (NYSE NUE) opened at 55.37 on Friday. Nucor Corporation has a 12-month low of $44.81 and a 12-month high of $68.00. The firm has a market cap of $17.74 billion, a P/E ratio of 15.54 and a beta of 1.51. The firm’s 50-day moving average is $58.42 and its 200 day moving average is $59.51.

Nucor Corporation (NYSE:NUE) last posted its quarterly earnings results on Thursday, July 20th. The basic materials company reported $1.00 earnings per share (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%. Nucor Corporation’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.73 EPS. Equities analysts forecast that Nucor Corporation will post $4.18 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 11th. Stockholders of record on Friday, June 30th were given a $0.3775 dividend. This represents a $1.51 annualized dividend and a dividend yield of 2.73%. The ex-dividend date was Wednesday, June 28th. Nucor Corporation’s dividend payout ratio is presently 43.77%.

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A number of research analysts recently issued reports on NUE shares. Jefferies Group LLC reiterated a “buy” rating and set a $68.00 target price on shares of Nucor Corporation in a research report on Wednesday, July 19th. Longbow Research reiterated a “buy” rating and set a $66.00 target price on shares of Nucor Corporation in a research report on Thursday, July 27th. ValuEngine downgraded shares of Nucor Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 16th. KeyCorp reiterated an “overweight” rating and set a $66.00 target price (down previously from $72.00) on shares of Nucor Corporation in a research report on Monday, June 26th. Finally, Barclays PLC reiterated a “buy” rating and set a $73.00 target price on shares of Nucor Corporation in a research report on Friday, May 5th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $68.76.

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

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

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