Nucor Corporation (NUE) Shares Bought by Wrapmanager Inc.
Wrapmanager Inc. raised its stake in Nucor Corporation (NYSE:NUE) by 3.1% during the second quarter, Holdings Channel reports. The fund owned 6,171 shares of the basic materials company’s stock after buying an additional 188 shares during the period. Wrapmanager Inc.’s holdings in Nucor Corporation were worth $357,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in NUE. LMR Partners LLP acquired a new position in shares of Nucor Corporation during the second quarter valued at $4,311,000. Dupont Capital Management Corp boosted its stake in shares of Nucor Corporation by 57.8% in the second quarter. Dupont Capital Management Corp now owns 89,952 shares of the basic materials company’s stock valued at $5,206,000 after buying an additional 32,952 shares during the last quarter. Conning Inc. boosted its stake in shares of Nucor Corporation by 5,384.8% in the second quarter. Conning Inc. now owns 430,993 shares of the basic materials company’s stock valued at $24,942,000 after buying an additional 423,135 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Nucor Corporation by 4.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 267,443 shares of the basic materials company’s stock valued at $15,477,000 after buying an additional 10,787 shares during the last quarter. Finally, Rational Advisors LLC boosted its stake in shares of Nucor Corporation by 1.1% in the second quarter. Rational Advisors LLC now owns 32,340 shares of the basic materials company’s stock valued at $1,872,000 after buying an additional 340 shares during the last quarter. 75.99% of the stock is owned by institutional investors and hedge funds.
Nucor Corporation (NYSE:NUE) opened at 55.72 on Tuesday. The firm has a 50 day moving average price of $58.37 and a 200 day moving average price of $59.47. Nucor Corporation has a 52 week low of $44.81 and a 52 week high of $68.00. The stock has a market capitalization of $17.80 billion, a P/E ratio of 15.64 and a beta of 1.51.
Nucor Corporation (NYSE:NUE) last posted 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 the consensus estimate of $5.08 billion. Nucor Corporation had a net margin of 6.08% and a return on equity of 13.39%. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period last year, the company posted $0.73 earnings per share. Equities research analysts predict that Nucor Corporation will post $4.18 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 11th. Stockholders of record on Friday, June 30th were issued a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a dividend yield of 2.71%. The ex-dividend date was Wednesday, June 28th. Nucor Corporation’s dividend payout ratio (DPR) is presently 43.77%.
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Several brokerages recently commented on NUE. 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 report on Tuesday, July 25th. BidaskClub upgraded Nucor Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Barclays PLC reiterated a “buy” rating and set a $73.00 price target on shares of Nucor Corporation in a research report on Friday, May 5th. BMO Capital Markets reiterated a “hold” rating on shares of Nucor Corporation in a research report on Friday, April 21st. Finally, Morgan Stanley restated a “buy” rating on shares of Nucor Corporation in a report on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Nucor Corporation currently 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 the company’s stock in a transaction that occurred on 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Leon J. Topalian sold 2,626 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $60.23, for a total value of $158,163.98. Following the transaction, the insider now directly owns 19,610 shares of the company’s stock, valued at $1,181,110.30. The disclosure for this sale can be found here. Insiders have sold 20,104 shares of company stock valued at $1,213,595 over the last ninety 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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