Nucor Corporation (NUE) Holdings Increased by Piedmont Investment Advisors LLC
Piedmont Investment Advisors LLC raised its holdings in Nucor Corporation (NYSE:NUE) by 3.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,643 shares of the basic materials company’s stock after buying an additional 850 shares during the quarter. Piedmont Investment Advisors LLC’s holdings in Nucor Corporation were worth $1,426,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Jennison Associates LLC grew its holdings in Nucor Corporation by 1.4% in the 2nd quarter. Jennison Associates LLC now owns 7,140 shares of the basic materials company’s stock valued at $413,000 after buying an additional 99 shares during the period. Achmea Investment Management B.V. purchased a new stake in shares of Nucor Corporation during the 1st quarter worth about $4,047,000. CWA Asset Management Group LLC grew its holdings in shares of Nucor Corporation by 7.1% during the 2nd quarter. CWA Asset Management Group LLC now owns 35,994 shares of the basic materials company’s stock worth $2,083,000 after purchasing an additional 2,380 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Nucor Corporation by 8.9% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 46,237 shares of the basic materials company’s stock worth $2,676,000 after purchasing an additional 3,792 shares during the period. Finally, Swiss National Bank grew its holdings in shares of Nucor Corporation by 3.1% during the 2nd quarter. Swiss National Bank now owns 1,163,561 shares of the basic materials company’s stock worth $67,335,000 after purchasing an additional 35,100 shares during the period. Institutional investors own 74.83% of the company’s stock.
Shares of Nucor Corporation (NUE) traded up 0.51% on Tuesday, reaching $57.50. The company had a trading volume of 286,002 shares. The firm has a market capitalization of $18.37 billion, a PE ratio of 16.14 and a beta of 1.54. The company’s 50-day moving average is $55.23 and its 200 day moving average is $57.54. Nucor Corporation has a 12 month low of $45.30 and a 12 month high of $68.00.
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 return on equity of 13.39% and a net margin of 6.08%. Nucor Corporation’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.73 EPS. Equities analysts forecast that Nucor Corporation will post $3.85 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Friday, September 29th will be given a dividend of $0.3775 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.51 annualized dividend and a dividend yield of 2.64%. Nucor Corporation’s dividend payout ratio (DPR) is presently 43.77%.
In related news, insider Leon J. Topalian sold 2,626 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $60.23, for a total transaction of $158,163.98. Following the completion of the transaction, the insider now owns 19,610 shares in the company, valued at approximately $1,181,110.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David A. Sumoski sold 2,537 shares of the firm’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 value of $156,431.42. Following the transaction, the insider now owns 62,434 shares of the company’s stock, valued at approximately $3,849,680.44. The disclosure for this sale can be found here. Insiders have sold a total of 22,604 shares of company stock valued at $1,351,495 in the last 90 days. 0.70% of the stock is owned by corporate insiders.
A number of analysts have recently issued reports on NUE shares. Morgan Stanley reiterated a “buy” rating on shares of Nucor Corporation in a report on Tuesday, July 18th. BMO Capital Markets set a $70.00 target price on Nucor Corporation and gave the stock a “hold” rating in a report on Saturday, August 26th. Macquarie started coverage on Nucor Corporation in a report on Wednesday, September 6th. They set a “neutral” rating and a $57.00 target price for the company. Longbow Research upgraded Nucor Corporation from a “neutral” rating to a “buy” rating in a report on Monday, June 19th. Finally, KeyCorp reiterated an “overweight” rating and set a $66.00 target price (down previously from $72.00) on shares of Nucor Corporation in a report on Monday, June 26th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $67.13.
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).
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.