BlackRock Inc. Sells 576,181 Shares of Nucor Corporation (NUE)
BlackRock Inc. lessened its holdings in shares of Nucor Corporation (NYSE:NUE) by 2.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,078,233 shares of the basic materials company’s stock after selling 576,181 shares during the period. BlackRock Inc. owned 6.61% of Nucor Corporation worth $1,219,796,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Washington Trust Bank lifted its holdings in shares of Nucor Corporation by 60.2% during the second quarter. Washington Trust Bank now owns 1,756 shares of the basic materials company’s stock worth $102,000 after purchasing an additional 660 shares during the period. Advantage Investment Management LLC lifted its holdings in shares of 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 worth $111,000 after purchasing an additional 1,154 shares during the period. Fiduciary Trust Co. acquired a new position in shares of Nucor Corporation during the second quarter worth $109,000. Valley National Advisers Inc. lifted its holdings in shares of 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 worth $140,000 after purchasing an additional 250 shares during the period. Finally, First Command Bank lifted its holdings in shares of Nucor Corporation by 1.5% during the second quarter. First Command Bank now owns 2,905 shares of the basic materials company’s stock worth $169,000 after purchasing an additional 44 shares during the period. Institutional investors own 75.00% of the company’s stock.
Shares of Nucor Corporation (NUE) opened at 53.50 on Friday. Nucor Corporation has a 1-year low of $45.30 and a 1-year high of $68.00. The company has a market capitalization of $17.09 billion, a P/E ratio of 15.02 and a beta of 1.53. The firm has a 50-day moving average of $55.44 and a 200 day moving average of $58.47.
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). Nucor Corporation had a return on equity of 13.39% and a net margin of 6.08%. The company had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.08 billion. During the same period in the prior year, the business posted $0.73 earnings per share. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. On average, equities research analysts expect that Nucor Corporation will post $4.08 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Friday, September 29th will be given a $0.3775 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.51 annualized dividend and a dividend yield of 2.82%. Nucor Corporation’s dividend payout ratio is 43.77%.
A number of brokerages have recently commented on NUE. BidaskClub upgraded shares of Nucor Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Zacks Investment Research lowered shares of Nucor Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. KeyCorp reiterated an “overweight” rating and set a $66.00 price target (down previously from $72.00) on shares of Nucor Corporation in a report on Monday, June 26th. ValuEngine lowered shares of Nucor Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Credit Suisse Group upgraded shares of Nucor Corporation from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $56.00 to $68.00 in a report on Wednesday, May 24th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $68.47.
In other news, insider Leon J. Topalian sold 2,626 shares of the firm’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 sale, the insider now directly owns 19,610 shares of the company’s stock, valued at approximately $1,181,110.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David A. Sumoski sold 2,537 shares of the firm’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 sale, 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 ninety days, insiders sold 20,104 shares of company stock valued at $1,213,595. 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).
Want to see what other hedge funds are holding NUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nucor Corporation (NYSE:NUE).
Receive News & Ratings for Nucor Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor Corporation and related companies with MarketBeat.com's FREE daily email newsletter.