Nucor Corporation (NUE) Shares Bought by Searle & CO.

Searle & CO. boosted its stake in shares of Nucor Corporation (NYSE:NUE) by 45.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 42,650 shares of the basic materials company’s stock after acquiring an additional 13,250 shares during the period. Nucor Corporation comprises about 1.6% of Searle & CO.’s holdings, making the stock its 17th biggest holding. Searle & CO.’s holdings in Nucor Corporation were worth $2,390,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the business. Crossmark Global Holdings Inc. acquired a new position in Nucor Corporation during the third quarter worth $1,542,000. First Trust Advisors LP raised its position in Nucor Corporation by 44.6% during the third quarter. First Trust Advisors LP now owns 381,095 shares of the basic materials company’s stock worth $21,357,000 after acquiring an additional 117,488 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in Nucor Corporation by 791.0% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,673 shares of the basic materials company’s stock worth $150,000 after acquiring an additional 2,373 shares during the period. Xact Kapitalforvaltning AB raised its position in Nucor Corporation by 3.4% during the third quarter. Xact Kapitalforvaltning AB now owns 26,056 shares of the basic materials company’s stock worth $1,460,000 after acquiring an additional 845 shares during the period. Finally, Personal Capital Advisors Corp raised its position in Nucor Corporation by 9.6% during the third quarter. Personal Capital Advisors Corp now owns 374,138 shares of the basic materials company’s stock worth $20,967,000 after acquiring an additional 32,832 shares during the period. Institutional investors own 74.77% of the company’s stock.

Shares of Nucor Corporation (NYSE:NUE) traded down 0.65% during midday trading on Tuesday, hitting $58.09. 1,171,658 shares of the company were exchanged. The stock has a market capitalization of $18.56 billion, a price-to-earnings ratio of 16.31 and a beta of 1.54. The company has a 50-day moving average price of $56.37 and a 200-day moving average price of $57.46. Nucor Corporation has a 52-week low of $46.64 and a 52-week high of $68.00.

Nucor Corporation (NYSE:NUE) last announced its earnings results on Thursday, October 19th. The basic materials company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.01. Nucor Corporation had a net margin of 5.80% and a return on equity of 12.77%. The firm had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the previous year, the company posted $0.88 EPS. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. On average, analysts forecast that Nucor Corporation will post $3.73 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Friday, September 29th will be paid a $0.3775 dividend. This represents a $1.51 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Thursday, September 28th. Nucor Corporation’s payout ratio is 43.90%.

A number of research firms have weighed in on NUE. Citigroup Inc. set a $66.00 price objective on shares of Nucor Corporation and gave the stock a “buy” rating in a research report on Friday, October 20th. Bank of America Corporation reduced their price objective on shares of Nucor Corporation from $73.00 to $71.00 and set a “buy” rating for the company in a research report on Friday, October 20th. Cowen and Company upped their price objective on shares of Nucor Corporation from $57.00 to $63.00 and gave the stock a “market perform” rating in a research report on Monday, October 23rd. Longbow Research restated a “buy” rating and set a $66.00 price objective on shares of Nucor Corporation in a research report on Thursday, July 27th. Finally, Credit Suisse Group reduced their price objective on shares of Nucor Corporation from $68.00 to $63.00 and set a “buy” rating for the company in a research report on Thursday, September 28th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $67.32.

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In related news, Chairman John J. Ferriola sold 15,131 shares of the business’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $60.40, for a total value of $913,912.40. Following the completion of the transaction, the chairman now owns 349,506 shares of the company’s stock, valued at approximately $21,110,162.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Victoria F. Haynes sold 2,500 shares of the business’s stock in a transaction dated Tuesday, September 19th. The shares were 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 directly owns 33,573 shares of the company’s stock, valued at approximately $1,851,886.68. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

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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Institutional Ownership by Quarter for Nucor Corporation (NYSE:NUE)

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