Security National Bank of Sioux City Iowa IA increased its position in shares of Nucor Corporation (NYSE:NUE) by 0.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,597 shares of the basic materials company’s stock after purchasing an additional 77 shares during the quarter. Security National Bank of Sioux City Iowa IA’s holdings in Nucor Corporation were worth $1,249,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in NUE. Oxford Asset Management purchased a new position in Nucor Corporation during the first quarter worth about $426,000. Victory Capital Management Inc. boosted its holdings in Nucor Corporation by 63.9% during the first quarter. Victory Capital Management Inc. now owns 58,300 shares of the basic materials company’s stock worth $3,481,000 after purchasing an additional 22,724 shares during the last quarter. Arizona State Retirement System boosted its holdings in Nucor Corporation by 0.3% during the first quarter. Arizona State Retirement System now owns 105,472 shares of the basic materials company’s stock worth $6,299,000 after purchasing an additional 300 shares during the last quarter. Blair William & Co. IL boosted its holdings in Nucor Corporation by 13.4% during the first quarter. Blair William & Co. IL now owns 4,545 shares of the basic materials company’s stock worth $283,000 after purchasing an additional 537 shares during the last quarter. Finally, American International Group Inc. boosted its holdings in Nucor Corporation by 16.8% during the first quarter. American International Group Inc. now owns 160,337 shares of the basic materials company’s stock worth $9,575,000 after purchasing an additional 23,054 shares during the last quarter. Institutional investors and hedge funds own 74.86% of the company’s stock.
Nucor Corporation (NYSE:NUE) traded down 0.23% during mid-day trading on Tuesday, hitting $55.27. 486,127 shares of the stock traded hands. The company’s 50 day moving average price is $54.92 and its 200-day moving average price is $57.61. Nucor Corporation has a 1-year low of $45.30 and a 1-year high of $68.00. The stock has a market cap of $17.65 billion, a price-to-earnings ratio of 15.52 and a beta of 1.54.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Friday, September 29th will be paid a $0.3775 dividend. This represents a $1.51 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Thursday, September 28th. Nucor Corporation’s dividend payout ratio (DPR) is presently 43.77%.
Several research firms recently weighed in on NUE. Jefferies Group LLC restated a “buy” rating and set a $68.00 price target on shares of Nucor Corporation in a report on Friday. Longbow Research cut shares of Nucor Corporation from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $55.01 to $56.04 in a report on Monday, October 2nd. Credit Suisse Group cut their price target on shares of Nucor Corporation from $68.00 to $63.00 and set a “buy” rating on the stock in a report on Thursday, September 28th. Zacks Investment Research cut shares of Nucor Corporation from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 26th. Finally, KeyCorp restated a “hold” rating on shares of Nucor Corporation in a report on Tuesday, September 19th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $67.13.
In other news, Chairman John J. Ferriola sold 14,941 shares of the stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $60.17, for a total value of $898,999.97. Following the transaction, the chairman now owns 361,847 shares in the company, valued at approximately $21,772,333.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Victoria F. Haynes sold 2,500 shares of the stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $55.16, for a total transaction of $137,900.00. Following the completion of the transaction, the director now owns 33,573 shares in the company, valued at approximately $1,851,886.68. The disclosure for this sale can be found here. Insiders sold a total of 22,604 shares of company stock worth $1,351,495 in the last quarter. Company insiders own 0.70% of the company’s stock.
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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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