State Treasurer State of Michigan raised its stake in Nucor Corporation (NYSE:NUE) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 104,811 shares of the basic materials company’s stock after buying an additional 100 shares during the period. State Treasurer State of Michigan’s holdings in Nucor Corporation were worth $6,065,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Massmutual Trust Co. FSB ADV increased 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 in the last quarter. Accredited Investors Inc. increased its position in Nucor Corporation by 0.6% in the first quarter. Accredited Investors Inc. now owns 3,892 shares of the basic materials company’s stock valued at $232,000 after buying an additional 24 shares in the last quarter. Cleararc Capital Inc. increased its position in Nucor Corporation by 0.5% in the first quarter. Cleararc Capital Inc. now owns 7,795 shares of the basic materials company’s stock valued at $466,000 after buying an additional 35 shares in the last quarter. First Command Bank increased its position in Nucor Corporation by 1.5% in the second 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 in the last quarter. Finally, Great Lakes Advisors LLC increased its position in Nucor Corporation by 0.5% in the first quarter. Great Lakes Advisors LLC now owns 10,662 shares of the basic materials company’s stock valued at $637,000 after buying an additional 50 shares in the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.
Nucor Corporation (NYSE:NUE) traded up 0.52% on Friday, reaching $60.23. 3,382,780 shares of the company’s stock traded hands. The stock has a 50-day moving average of $58.35 and a 200 day moving average of $59.81. The firm has a market capitalization of $19.30 billion, a P/E ratio of 16.91 and a beta of 1.52. Nucor Corporation has a 52 week low of $44.81 and a 52 week high of $68.00.
Nucor Corporation (NYSE:NUE) last issued its quarterly earnings data on Thursday, July 20th. The basic materials company reported $1.00 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 analyst estimates of $5.08 billion. During the same period last year, the business earned $0.73 EPS. The firm’s revenue was up 21.9% compared to the same quarter last year. On average, equities analysts expect that Nucor Corporation will post $4.18 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 11th. Shareholders of record on Friday, June 30th will be given a $0.3775 dividend. This represents a $1.51 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Wednesday, June 28th. Nucor Corporation’s dividend payout ratio (DPR) is 43.77%.
Several equities analysts have recently weighed in on the stock. BMO Capital Markets reissued a “hold” rating and issued a $68.00 price target on shares of Nucor Corporation in a research note on Monday, April 3rd. Morgan Stanley reissued a “buy” rating on shares of Nucor Corporation in a research note on Tuesday, July 18th. Zacks Investment Research downgraded shares of Nucor Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, May 16th. Jefferies Group LLC reissued a “buy” rating and issued a $75.00 price target (down from $77.00) on shares of Nucor Corporation in a research note on Wednesday, April 19th. Finally, Longbow Research assumed coverage on shares of Nucor Corporation in a research note on Tuesday, May 9th. They issued a “neutral” rating on the stock. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $68.44.
In other Nucor Corporation news, Chairman John J. Ferriola sold 12,232 shares of the stock in a transaction that occurred 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 completion of the sale, the chairman now owns 349,855 shares of the company’s stock, valued at $21,551,068. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Victoria F. Haynes sold 3,000 shares of the stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $61.52, for a total transaction of $184,560.00. Following the completion of the sale, the director now directly owns 33,703 shares of the company’s stock, valued at approximately $2,073,408.56. The disclosure for this sale can be found here. 0.70% of the stock is owned by company insiders.
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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