Beech Hill Advisors Inc. raised its stake in shares of Nucor Corporation (NYSE:NUE) by 4.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 56,715 shares of the basic materials company’s stock after purchasing an additional 2,350 shares during the period. Beech Hill Advisors Inc.’s holdings in Nucor Corporation were worth $3,178,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of NUE. Mckinley Capital Management LLC Delaware acquired a new position in Nucor Corporation during the second quarter worth approximately $100,000. Krilogy Financial LLC increased its position in Nucor Corporation by 4,594.6% during the second quarter. Krilogy Financial LLC now owns 1,737 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 1,700 shares during the last quarter. Washington Trust Bank increased its position in Nucor Corporation by 60.2% during the second quarter. Washington Trust Bank now owns 1,756 shares of the basic materials company’s stock worth $102,000 after purchasing an additional 660 shares during the last quarter. Fiduciary Trust Co. acquired a new position in Nucor Corporation during the second quarter worth approximately $109,000. Finally, Sun Life Financial INC increased its position in Nucor Corporation by 23,290.0% during the second quarter. Sun Life Financial INC now owns 2,339 shares of the basic materials company’s stock worth $135,000 after purchasing an additional 2,329 shares during the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently commented on the stock. Cowen and Company reaffirmed a “market perform” rating and set a $63.00 price target (up previously from $62.00) on shares of Nucor Corporation in a research report on Tuesday, July 25th. Morgan Stanley reaffirmed a “buy” rating on shares of Nucor Corporation in a research report on Tuesday, July 18th. BMO Capital Markets reaffirmed a “market perform” rating and set a $62.00 price target (down previously from $70.00) on shares of Nucor Corporation in a research report on Monday, September 18th. KeyCorp reaffirmed a “hold” rating on shares of Nucor Corporation in a research report on Thursday, October 19th. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $73.00 price target on shares of Nucor Corporation in a research report on Wednesday, September 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $67.32.
In other news, Director Victoria F. Haynes sold 2,500 shares of the firm’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $55.16, for a total value of $137,900.00. Following the sale, the director now owns 33,573 shares in the company, valued at $1,851,886.68. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider D. Chad Utermark sold 9,003 shares of the firm’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $59.72, for a total transaction of $537,659.16. Following the completion of the sale, the insider now owns 73,883 shares in the company, valued at approximately $4,412,292.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,634 shares of company stock worth $1,589,472. 0.70% of the stock is currently owned by corporate insiders.
Shares of Nucor Corporation (NYSE NUE) traded up 1.64% on Wednesday, hitting $58.78. 778,940 shares of the stock traded hands. Nucor Corporation has a 12-month low of $47.59 and a 12-month high of $68.00. The stock has a 50-day moving average price of $56.48 and a 200 day moving average price of $57.46. The stock has a market cap of $18.78 billion, a price-to-earnings ratio of 16.50 and a beta of 1.54.
Nucor Corporation (NYSE:NUE) last announced its quarterly earnings data on Thursday, October 19th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.01. The business had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $5.19 billion. Nucor Corporation had a net margin of 5.80% and a return on equity of 12.77%. Nucor Corporation’s quarterly revenue was up 20.5% on a year-over-year basis. During the same quarter last year, the company posted $0.88 earnings per share. On average, analysts anticipate that Nucor Corporation will post $3.73 earnings per share for the current fiscal year.
The business 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. The ex-dividend date is Thursday, September 28th. This represents a $1.51 annualized dividend and a dividend yield of 2.61%. Nucor Corporation’s payout ratio is 43.90%.
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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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