Adirondack Trust Co. Has $116,000 Stake in Nucor Corporation (NUE)

Adirondack Trust Co. held its position in Nucor Corporation (NYSE:NUE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,000 shares of the basic materials company’s stock at the end of the second quarter. Adirondack Trust Co.’s holdings in Nucor Corporation were worth $116,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Achmea Investment Management B.V. bought a new position in Nucor Corporation during the first quarter valued at $4,047,000. Main Street Research LLC boosted its position in Nucor Corporation by 1.4% in the first quarter. Main Street Research LLC now owns 184,720 shares of the basic materials company’s stock valued at $11,031,000 after buying an additional 2,489 shares during the last quarter. Suntrust Banks Inc. boosted its position in Nucor Corporation by 5.3% in the first quarter. Suntrust Banks Inc. now owns 148,786 shares of the basic materials company’s stock valued at $8,884,000 after buying an additional 7,440 shares during the last quarter. Legal & General Group Plc boosted its position in Nucor Corporation by 2.5% in the first quarter. Legal & General Group Plc now owns 1,590,410 shares of the basic materials company’s stock valued at $94,975,000 after buying an additional 38,454 shares during the last quarter. Finally, Savant Capital LLC boosted its position in Nucor Corporation by 1.3% in the first quarter. Savant Capital LLC now owns 4,281 shares of the basic materials company’s stock valued at $256,000 after buying an additional 55 shares during the last quarter. 76.57% of the stock is owned by institutional investors.

Shares of Nucor Corporation (NYSE:NUE) opened at 56.54 on Friday. The company’s 50-day moving average is $58.45 and its 200-day moving average is $59.55. The company has a market cap of $18.12 billion, a price-to-earnings ratio of 15.87 and a beta of 1.51. Nucor Corporation has a one year low of $44.81 and a one year 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 Zacks’ 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 company had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.08 billion. During the same period in the previous year, the company earned $0.73 EPS. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. On average, equities analysts predict that Nucor Corporation will post $4.18 EPS for the current 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 given a $0.3775 dividend. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $1.51 dividend on an annualized basis and a yield of 2.67%. Nucor Corporation’s payout ratio is currently 43.77%.

NUE has been the subject of several research analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $68.00 target price on shares of Nucor Corporation in a research note on Wednesday, July 19th. Longbow Research reaffirmed a “buy” rating and set a $66.00 target price on shares of Nucor Corporation in a research note on Thursday, July 27th. ValuEngine cut shares of Nucor Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 16th. KeyCorp reaffirmed an “overweight” rating and set a $66.00 target price (down from $72.00) on shares of Nucor Corporation in a research note on Monday, June 26th. Finally, Barclays PLC reiterated a “buy” rating and set a $73.00 price objective on shares of Nucor Corporation in a research report on Friday, May 5th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $68.76.

In other Nucor Corporation news, insider Leon J. Topalian sold 2,626 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $60.23, for a total value of $158,163.98. Following the transaction, the insider now owns 19,610 shares of the company’s stock, valued at $1,181,110.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider David A. Sumoski sold 2,537 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $61.66, for a total transaction of $156,431.42. Following the completion of the transaction, the insider now directly owns 62,434 shares in the company, valued at approximately $3,849,680.44. The disclosure for this sale can be found here. Insiders sold 20,104 shares of company stock worth $1,213,595 in the last ninety days. 0.70% of the stock is currently owned by corporate 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).