Bessemer Group Inc. Has $1.41 Million Position in Nucor Corporation (NYSE:NUE)
Bessemer Group Inc. reduced its position in shares of Nucor Corporation (NYSE:NUE) by 17.6% during the second quarter, Holdings Channel reports. The fund owned 24,406 shares of the basic materials company’s stock after selling 5,196 shares during the period. Bessemer Group Inc.’s holdings in Nucor Corporation were worth $1,412,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Massmutual Trust Co. FSB ADV boosted its position in Nucor Corporation by 0.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,147 shares of the basic materials company’s stock worth $128,000 after buying an additional 15 shares during the last quarter. Accredited Investors Inc. boosted its position in shares of Nucor Corporation by 0.6% in the first quarter. Accredited Investors Inc. now owns 3,892 shares of the basic materials company’s stock valued at $232,000 after buying an additional 24 shares during the last quarter. FineMark National Bank & Trust boosted its position in shares of Nucor Corporation by 0.3% in the second quarter. FineMark National Bank & Trust now owns 9,699 shares of the basic materials company’s stock valued at $561,000 after buying an additional 26 shares during the last quarter. Cleararc Capital Inc. boosted its position in shares of Nucor Corporation by 0.5% in the first quarter. Cleararc Capital Inc. now owns 7,795 shares of the basic materials company’s stock valued at $466,000 after buying an additional 35 shares during the last quarter. Finally, ING Groep NV boosted its position in shares of Nucor Corporation by 0.3% in the second quarter. ING Groep NV now owns 16,591 shares of the basic materials company’s stock valued at $960,000 after buying an additional 43 shares during the last quarter. 76.57% of the stock is owned by institutional investors.
Shares of Nucor Corporation (NUE) opened at 55.37 on Friday. The company’s 50-day moving average is $58.42 and its 200 day moving average is $59.51. The firm has a market cap of $17.69 billion, a price-to-earnings ratio of 15.54 and a beta of 1.51. Nucor Corporation has a 1-year low of $44.81 and a 1-year high of $68.00.
Nucor Corporation (NYSE:NUE) last released its quarterly earnings results on Thursday, July 20th. The basic materials company reported $1.00 EPS for the quarter, missing the Zacks’ consensus estimate of $1.06 by $0.06. The firm had revenue of $5.17 billion during 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%. Nucor Corporation’s quarterly revenue was up 21.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.73 earnings per share. On average, equities research analysts expect that Nucor Corporation will post $4.18 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Friday, June 30th were given a $0.3775 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.51 dividend on an annualized basis and a yield of 2.73%. Nucor Corporation’s dividend payout ratio (DPR) is presently 43.77%.
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Several equities analysts have recently commented on the stock. BidaskClub cut shares of Nucor Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Longbow Research reaffirmed a “buy” rating and set a $66.00 price target on shares of Nucor Corporation in a research report on Thursday, July 27th. Cowen and Company reaffirmed a “market perform” rating and set a $63.00 price target (up previously from $62.00) on shares of Nucor Corporation in a research report on Tuesday, July 25th. Zacks Investment Research cut shares of Nucor Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Finally, Berenberg Bank reaffirmed a “buy” rating and set a $77.50 price target on shares of Nucor Corporation in a research report on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $68.76.
In other Nucor Corporation news, insider Leon J. Topalian sold 2,626 shares of the business’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $60.23, for a total value of $158,163.98. Following the completion of the transaction, the insider now directly owns 19,610 shares of the company’s stock, valued at $1,181,110.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider David A. Sumoski sold 2,537 shares of the business’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $61.66, for a total transaction of $156,431.42. Following the completion of the transaction, the insider now directly owns 62,434 shares of the company’s stock, valued at $3,849,680.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,104 shares of company stock worth $1,213,595. Company insiders own 0.70% of the company’s stock.
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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