Beech Hill Advisors Inc. purchased a new position in shares of Nucor Corporation (NYSE:NUE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 54,365 shares of the basic materials company’s stock, valued at approximately $3,146,000.
A number of other large investors have also recently added to or reduced their stakes in the stock. Advantage Investment Management LLC boosted its stake 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 during the period. Ledyard National Bank purchased a new stake in Nucor Corporation during the first quarter worth about $122,000. Massmutual Trust Co. FSB ADV boosted its stake 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 last quarter. Valley National Advisers Inc. boosted its stake 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 last quarter. Finally, Feltz Wealth PLAN Inc. bought a new stake in Nucor Corporation during the first quarter valued at $146,000. Institutional investors own 76.45% of the company’s stock.
Shares of Nucor Corporation (NYSE:NUE) traded down 2.06% during trading on Friday, reaching $57.46. 2,966,060 shares of the company’s stock were exchanged. Nucor Corporation has a 52-week low of $44.81 and a 52-week high of $68.00. The stock has a market cap of $18.41 billion, a PE ratio of 16.13 and a beta of 1.52. The stock’s 50 day moving average price is $58.49 and its 200-day moving average price is $59.77.
Nucor Corporation (NYSE:NUE) last announced its quarterly earnings results 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 business had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.08 billion. During the same quarter last year, the company posted $0.73 earnings per share. The company’s revenue was up 21.9% compared to the same quarter last year. On average, equities research analysts forecast that Nucor Corporation will post $4.18 EPS for the current year.
The firm also recently declared 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 2.63%. The ex-dividend date is Wednesday, June 28th. Nucor Corporation’s dividend payout ratio (DPR) is currently 43.77%.
NUE has been the subject of several research reports. Barclays PLC reiterated a “buy” rating and issued a $73.00 target price on shares of Nucor Corporation in a research note on Friday, May 5th. Jefferies Group LLC reiterated a “buy” rating and issued a $75.00 target price (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 target price for the company in a research note on Tuesday, April 11th. Longbow Research raised shares of Nucor Corporation from a “neutral” rating to a “buy” rating in a research report on Monday, June 19th. Finally, Morgan Stanley reissued a “buy” rating on shares of Nucor Corporation in a research report on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $68.76.
In other news, Chairman John J. Ferriola sold 14,941 shares of the stock in a transaction on Monday, July 24th. The shares were sold at an average price of $60.17, for a total transaction of $898,999.97. Following the completion of the sale, the chairman now directly owns 361,847 shares in the company, valued at $21,772,333.99. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Leon J. Topalian sold 2,626 shares of the stock in a transaction 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 sale, the insider now owns 19,610 shares of the company’s stock, valued at $1,181,110.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,104 shares of company stock valued at $1,213,595. Corporate 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).
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.
