US Bancorp DE lowered its position in Nucor Corporation (NYSE:NUE) by 2.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 109,351 shares of the basic materials company’s stock after selling 2,386 shares during the period. US Bancorp DE’s holdings in Nucor Corporation were worth $6,328,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in NUE. 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 last quarter. Ledyard National Bank purchased a new stake in Nucor Corporation during the first quarter worth approximately $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 worth $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 worth $140,000 after buying an additional 250 shares during the last quarter. Finally, Feltz Wealth PLAN Inc. purchased a new stake in Nucor Corporation during the first quarter worth approximately $146,000. Institutional investors own 75.99% of the company’s stock.
Nucor Corporation (NYSE NUE) traded down 0.44% on Friday, hitting $54.11. 2,279,463 shares of the company were exchanged. The stock has a market capitalization of $17.28 billion, a P/E ratio of 15.19 and a beta of 1.51. Nucor Corporation has a 52-week low of $44.81 and a 52-week high of $68.00. The stock’s 50-day moving average price is $58.08 and its 200-day moving average price is $59.33.
The company also recently declared a quarterly dividend, which was paid on Friday, August 11th. Investors of record on Friday, June 30th were given a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a dividend yield of 2.79%. The ex-dividend date was Wednesday, June 28th. Nucor Corporation’s payout ratio is 43.77%.
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A number of equities research analysts have commented on the stock. Longbow Research restated a “buy” rating and set a $66.00 target price on shares of Nucor Corporation in a research note on Thursday, July 27th. Macquarie raised shares of Nucor Corporation from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $55.00 to $62.00 in a report on Monday, April 24th. BMO Capital Markets reaffirmed a “hold” rating on shares of Nucor Corporation in a report on Friday, April 21st. Zacks Investment Research lowered shares of Nucor Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. Finally, Berenberg Bank reaffirmed a “buy” rating and set a $77.50 price objective on shares of Nucor Corporation in a report on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus 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 on Monday, July 24th. The stock was sold at an average price of $60.23, for a total value of $158,163.98. Following the completion of the sale, the insider now directly owns 19,610 shares in the company, valued at approximately $1,181,110.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider David A. Sumoski sold 2,537 shares of the company’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $61.66, for a total value of $156,431.42. Following the completion of the sale, the insider now owns 62,434 shares of the company’s stock, valued at $3,849,680.44. The disclosure for this sale can be found here. Insiders have sold 20,104 shares of company stock valued at $1,213,595 over the last quarter. 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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