Nucor Corporation (NUE) Shares Bought by WealthPLAN Partners LLC
WealthPLAN Partners LLC raised its holdings in Nucor Corporation (NYSE:NUE) by 321.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,312 shares of the basic materials company’s stock after purchasing an additional 7,866 shares during the quarter. WealthPLAN Partners LLC’s holdings in Nucor Corporation were worth $597,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Washington Trust Bank raised its position in Nucor Corporation by 60.2% in the 2nd quarter. Washington Trust Bank now owns 1,756 shares of the basic materials company’s stock valued at $102,000 after purchasing an additional 660 shares during the last quarter. Fiduciary Trust Co. bought a new position in Nucor Corporation in the 2nd quarter valued at $109,000. Advantage Investment Management LLC raised its position in Nucor Corporation by 164.9% in the 1st quarter. Advantage Investment Management LLC now owns 1,854 shares of the basic materials company’s stock valued at $111,000 after purchasing an additional 1,154 shares during the last quarter. Valley National Advisers Inc. raised its position in Nucor Corporation by 12.0% in the 1st quarter. Valley National Advisers Inc. now owns 2,340 shares of the basic materials company’s stock valued at $140,000 after purchasing an additional 250 shares during the last quarter. Finally, First Command Bank raised its position in Nucor Corporation by 1.5% in the 2nd quarter. First Command Bank now owns 2,905 shares of the basic materials company’s stock valued at $169,000 after purchasing an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 74.86% of the company’s stock.
In related news, Chairman John J. Ferriola sold 14,941 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was 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 of the company’s stock, valued at approximately $21,772,333.99. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Victoria F. Haynes sold 2,500 shares of the firm’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $55.16, for a total value of $137,900.00. Following the transaction, the director now directly owns 33,573 shares of the company’s stock, valued at $1,851,886.68. The disclosure for this sale can be found here. Insiders sold a total of 22,604 shares of company stock valued at $1,351,495 over the last quarter. 0.70% of the stock is owned by corporate insiders.
NUE has been the subject of several research analyst reports. Morgan Stanley reiterated a “buy” rating on shares of Nucor Corporation in a research report on Tuesday, July 18th. BMO Capital Markets set a $70.00 price objective on Nucor Corporation and gave the company a “hold” rating in a research report on Saturday, August 26th. ValuEngine downgraded Nucor Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 16th. Macquarie initiated coverage on Nucor Corporation in a research report on Wednesday, September 6th. They issued a “neutral” rating and a $57.00 price objective for the company. Finally, Longbow Research upgraded Nucor Corporation from a “neutral” rating to a “buy” rating in a research report on Monday, June 19th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. Nucor Corporation currently has an average rating of “Hold” and an average price target of $68.00.
Shares of Nucor Corporation (NUE) traded up 0.04% during midday trading on Friday, hitting $54.53. The company had a trading volume of 2,397,767 shares. The stock has a market capitalization of $17.42 billion, a price-to-earnings ratio of 15.31 and a beta of 1.53. Nucor Corporation has a one year low of $45.30 and a one year high of $68.00. The stock’s 50-day moving average price is $55.28 and its 200-day moving average price is $58.29.
Nucor Corporation (NYSE:NUE) last announced 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). Nucor Corporation had a net margin of 6.08% and a return on equity of 13.39%. The firm had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.08 billion. During the same quarter in the previous year, the company posted $0.73 earnings per share. The firm’s revenue was up 21.9% on a year-over-year basis. Analysts predict that Nucor Corporation will post $3.96 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Friday, September 29th will be paid a $0.3775 dividend. This represents a $1.51 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Thursday, September 28th. Nucor Corporation’s payout ratio is 43.77%.
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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