Cornerstone Capital Management Holdings LLC. increased its position in shares of Nucor Corporation (NYSE:NUE) by 40.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 363,096 shares of the basic materials company’s stock after buying an additional 103,898 shares during the period. Cornerstone Capital Management Holdings LLC. owned about 0.11% of Nucor Corporation worth $21,683,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of NUE. Advantage Investment Management LLC boosted its position in Nucor Corporation by 164.9% in the first quarter. Advantage Investment Management LLC now owns 1,854 shares of the basic materials company’s stock worth $111,000 after buying an additional 1,154 shares in the last quarter. Ledyard National Bank purchased a new stake in Nucor Corporation during the first quarter worth about $122,000. Massmutual Trust Co. FSB ADV purchased a new stake in Nucor Corporation during the fourth quarter worth about $127,000. Feltz Wealth PLAN Inc. purchased a new stake in Nucor Corporation during the first quarter worth about $146,000. Finally, Parallel Advisors LLC purchased a new stake in Nucor Corporation during the fourth quarter worth about $150,000. 77.42% of the stock is currently owned by hedge funds and other institutional investors.
Nucor Corporation (NYSE NUE) traded up 0.59% on Tuesday, reaching $56.13. The company had a trading volume of 1,024,366 shares. The firm has a 50-day moving average of $58.39 and a 200-day moving average of $60.48. The stock has a market capitalization of $17.91 billion, a P/E ratio of 16.91 and a beta of 1.52. Nucor Corporation has a 12 month low of $44.81 and a 12 month high of $68.00.
Nucor Corporation (NYSE:NUE) last issued its earnings results on Thursday, April 20th. The basic materials company reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by $0.03. The company had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.67 billion. Nucor Corporation had a net margin of 5.90% and a return on equity of 12.63%. The company’s quarterly revenue was up 29.6% on a year-over-year basis. During the same period last year, the business earned $0.27 EPS. On average, equities research analysts expect that Nucor Corporation will post $4.46 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 11th. Shareholders of record on Friday, June 30th will be paid a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Wednesday, June 28th. Nucor Corporation’s dividend payout ratio (DPR) is currently 47.48%.
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Several equities research analysts have weighed in on NUE shares. J P Morgan Chase & Co upped their target price on Nucor Corporation from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, March 22nd. Barclays PLC restated a “buy” rating and set a $73.00 price objective on shares of Nucor Corporation in a research note on Monday, May 15th. Deutsche Bank AG increased their price target on Nucor Corporation from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, March 21st. Zacks Investment Research upgraded Nucor Corporation from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research note on Tuesday, April 11th. Finally, Longbow Research began coverage on Nucor Corporation in a report on Tuesday, May 9th. They issued a “neutral” rating on the stock. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $68.97.
In related news, Chairman John J. Ferriola sold 12,232 shares of Nucor Corporation stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $61.60, for a total value of $753,491.20. Following the transaction, the chairman now owns 349,855 shares in the company, valued at approximately $21,551,068. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Victoria F. Haynes sold 3,000 shares of Nucor Corporation stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $61.52, for a total transaction of $184,560.00. Following the completion of the transaction, the director now owns 33,703 shares in the company, valued at approximately $2,073,408.56. The disclosure for this sale can be found here. Company 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).
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