Capstone Asset Management Co. Lowers Position in Nucor Corporation (NYSE:NUE)

Capstone Asset Management Co. decreased its stake in Nucor Corporation (NYSE:NUE) by 7.8% during the second quarter, Holdings Channel reports. The firm owned 27,017 shares of the basic materials company’s stock after selling 2,286 shares during the period. Capstone Asset Management Co.’s holdings in Nucor Corporation were worth $1,563,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NUE. Advantage Investment Management LLC raised 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 valued at $111,000 after buying an additional 1,154 shares during the period. Ledyard National Bank purchased a new position in Nucor Corporation during the first quarter valued at approximately $122,000. Massmutual Trust Co. FSB ADV raised its position in Nucor Corporation by 0.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,147 shares of the basic materials company’s stock valued at $128,000 after buying an additional 15 shares during the period. Valley National Advisers Inc. raised its position in Nucor Corporation by 12.0% in the first 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, Feltz Wealth PLAN Inc. purchased a new position in Nucor Corporation during the first quarter valued at approximately $146,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Shares of Nucor Corporation (NYSE:NUE) opened at 59.35 on Wednesday. The stock has a 50 day moving average of $58.23 and a 200-day moving average of $59.80. Nucor Corporation has a 12 month low of $44.81 and a 12 month high of $68.00. The firm has a market capitalization of $18.94 billion, a PE ratio of 17.88 and a beta of 1.52.

Nucor Corporation (NYSE:NUE) last released its quarterly earnings data on Thursday, April 20th. The basic materials company reported $1.11 EPS for the quarter, missing the consensus estimate of $1.14 by $0.03. Nucor Corporation had a return on equity of 12.63% and a net margin of 5.90%. The business had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter in the prior year, the firm earned $0.27 earnings per share. Nucor Corporation’s quarterly revenue was up 29.6% on a year-over-year basis. On average, equities research analysts anticipate that Nucor Corporation will post $4.19 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Friday, June 30th will be paid a $0.3775 dividend. This represents a $1.51 annualized dividend and a yield of 2.54%. The ex-dividend date is Wednesday, June 28th. Nucor Corporation’s payout ratio is 47.48%.

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Several research analysts recently commented on NUE shares. Barclays PLC reiterated 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 upped their price target on shares of Nucor Corporation from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, March 21st. Jefferies Group LLC restated a “buy” rating and set a $75.00 price target (down previously from $77.00) on shares of Nucor Corporation in a research note on Wednesday, April 19th. Zacks Investment Research upgraded shares of Nucor Corporation from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research note on Tuesday, April 11th. Finally, Longbow Research upgraded shares of Nucor Corporation from a “neutral” rating to a “buy” rating in a research note on Monday, June 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Nucor Corporation currently has an average rating of “Buy” and an average price target of $68.44.

In related news, Director Victoria F. Haynes sold 3,000 shares of the business’s stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $61.52, for a total value of $184,560.00. Following the completion of the transaction, the director now owns 33,703 shares of the company’s stock, valued at approximately $2,073,408.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman John J. Ferriola sold 12,232 shares of the business’s stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $61.60, for a total transaction of $753,491.20. Following the completion of the transaction, the chairman now directly owns 349,855 shares of the company’s stock, valued at approximately $21,551,068. The disclosure for this sale can be found here. 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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