Strategic Advisors LLC Purchases Shares of 10,495 Nucor Corporation (NUE)
Strategic Advisors LLC purchased a new stake in shares of Nucor Corporation (NYSE:NUE) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,495 shares of the basic materials company’s stock, valued at approximately $607,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Washington Trust Bank increased its stake in Nucor Corporation by 60.2% during the second quarter. Washington Trust Bank now owns 1,756 shares of the basic materials company’s stock valued at $102,000 after acquiring an additional 660 shares during the period. Fiduciary Trust Co. bought a new position in Nucor Corporation during the second quarter valued at about $109,000. Advantage Investment Management LLC increased its stake in Nucor Corporation by 164.9% during the first quarter. Advantage Investment Management LLC now owns 1,854 shares of the basic materials company’s stock valued at $111,000 after acquiring an additional 1,154 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in Nucor Corporation by 0.7% during the first quarter. Massmutual Trust Co. FSB ADV now owns 2,147 shares of the basic materials company’s stock valued at $128,000 after acquiring an additional 15 shares during the period. Finally, Valley National Advisers Inc. increased its stake in Nucor Corporation by 12.0% during the first quarter. Valley National Advisers Inc. now owns 2,340 shares of the basic materials company’s stock valued at $140,000 after acquiring an additional 250 shares during the period. Hedge funds and other institutional investors own 75.00% of the company’s stock.
Nucor Corporation (NYSE NUE) traded up 0.11% during midday trading on Wednesday, hitting $53.54. The stock had a trading volume of 382,082 shares. Nucor Corporation has a 1-year low of $44.81 and a 1-year high of $68.00. The company’s 50 day moving average is $56.12 and its 200 day moving average is $58.66. The company has a market cap of $17.10 billion, a price-to-earnings ratio of 15.03 and a beta of 1.53.
Nucor Corporation (NYSE:NUE) last released its quarterly earnings results on Thursday, July 20th. The basic materials company reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.06). Nucor Corporation had a net margin of 6.08% and a return on equity of 13.39%. The business had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.08 billion. During the same quarter in the previous year, the firm posted $0.73 earnings per share. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. On average, equities analysts anticipate that Nucor Corporation will post $4.14 earnings per share for the current fiscal year.
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In related news, insider David A. Sumoski sold 2,537 shares of Nucor Corporation stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $61.66, for a total value of $156,431.42. Following the transaction, the insider now directly owns 62,434 shares of the company’s stock, valued at $3,849,680.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman John J. Ferriola sold 14,941 shares of Nucor Corporation stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $60.17, for a total transaction of $898,999.97. Following the completion of the transaction, the chairman now directly owns 361,847 shares in the company, valued at $21,772,333.99. The disclosure for this sale can be found here. Insiders sold 20,104 shares of company stock worth $1,213,595 over the last three months. 0.70% of the stock is currently owned by insiders.
Several equities analysts recently issued reports on the company. Cowen and Company restated 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. BidaskClub upgraded Nucor Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Morgan Stanley restated a “buy” rating on shares of Nucor Corporation in a research note on Tuesday, July 18th. Zacks Investment Research lowered Nucor Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, Berenberg Bank restated a “buy” rating and set a $77.50 price target on shares of Nucor Corporation in a research note on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $68.47.
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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