UBS Asset Management Americas Inc. Has $64.70 Million Holdings in Nucor Corporation (NUE)
UBS Asset Management Americas Inc. raised its holdings in Nucor Corporation (NYSE:NUE) by 10.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,118,061 shares of the basic materials company’s stock after buying an additional 101,326 shares during the quarter. UBS Asset Management Americas Inc. owned 0.35% of Nucor Corporation worth $64,702,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Washington Trust Bank increased its holdings 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 buying an additional 660 shares during the period. Advantage Investment Management LLC increased its holdings 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 buying an additional 1,154 shares during the period. Fiduciary Trust Co. bought a new stake in Nucor Corporation in the 2nd quarter valued at $109,000. Valley National Advisers Inc. increased its holdings 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 buying an additional 250 shares during the period. Finally, First Command Bank increased its holdings 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 buying an additional 44 shares during the period. 74.86% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on NUE. BidaskClub raised shares of Nucor Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. ValuEngine lowered shares of Nucor Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 16th. Longbow Research raised shares of Nucor Corporation from a “neutral” rating to a “buy” rating in a report on Monday, June 19th. KeyCorp reaffirmed an “overweight” rating and issued a $66.00 target price (down previously from $72.00) on shares of Nucor Corporation in a report on Monday, June 26th. Finally, Jefferies Group LLC reaffirmed a “buy” rating on shares of Nucor Corporation in a report on Friday, June 30th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $68.00.
In other Nucor Corporation news, insider David A. Sumoski sold 2,537 shares of Nucor Corporation stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $61.66, for a total value of $156,431.42. Following the transaction, the insider now owns 62,434 shares in the company, valued at $3,849,680.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Victoria F. Haynes sold 2,500 shares of Nucor Corporation stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $55.16, for a total value of $137,900.00. Following the completion of the transaction, the director now owns 33,573 shares in the company, valued at approximately $1,851,886.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,604 shares of company stock worth $1,351,495. Company insiders own 0.70% of the company’s stock.
Shares of Nucor Corporation (NUE) opened at 54.53 on Friday. The company has a market cap 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 firm’s 50-day moving average is $55.28 and its 200-day moving average is $58.29.
Nucor Corporation (NYSE:NUE) last released its earnings results on Thursday, July 20th. The basic materials company reported $1.00 earnings per share (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 business had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.08 billion. During the same quarter in the prior year, the firm earned $0.73 EPS. The business’s revenue was up 21.9% on a year-over-year basis. Analysts expect that Nucor Corporation will post $3.96 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Friday, September 29th will be given a $0.3775 dividend. This represents a $1.51 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date is Thursday, September 28th. Nucor Corporation’s dividend payout ratio is presently 43.77%.
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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