Wedbush Securities Inc. Acquires 7,983 Shares of Nucor Corporation (NUE)

Wedbush Securities Inc. lifted its holdings in Nucor Corporation (NYSE:NUE) by 205.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,869 shares of the basic materials company’s stock after purchasing an additional 7,983 shares during the period. Wedbush Securities Inc.’s holdings in Nucor Corporation were worth $665,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Accredited Investors Inc. lifted its stake in shares of Nucor Corporation by 0.6% in the 2nd quarter. Accredited Investors Inc. now owns 3,917 shares of the basic materials company’s stock worth $227,000 after purchasing an additional 25 shares during the period. FineMark National Bank & Trust lifted its stake in shares of Nucor Corporation by 0.3% in the 2nd quarter. FineMark National Bank & Trust now owns 9,699 shares of the basic materials company’s stock worth $561,000 after purchasing an additional 26 shares during the period. ING Groep NV lifted its stake in shares of Nucor Corporation by 0.3% in the 2nd quarter. ING Groep NV now owns 16,591 shares of the basic materials company’s stock worth $960,000 after purchasing an additional 43 shares during the period. First Command Bank lifted its stake in shares of Nucor Corporation by 1.5% in the 2nd quarter. First Command Bank now owns 2,905 shares of the basic materials company’s stock worth $169,000 after purchasing an additional 44 shares during the period. Finally, Boys Arnold & Co. Inc. lifted its stake in shares of Nucor Corporation by 0.3% in the 2nd quarter. Boys Arnold & Co. Inc. now owns 16,679 shares of the basic materials company’s stock worth $965,000 after purchasing an additional 50 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Shares of Nucor Corporation (NUE) traded down $0.45 on Friday, reaching $58.00. 1,944,339 shares of the company’s stock were exchanged, compared to its average volume of 2,499,077. The stock has a market cap of $18,526.71, a price-to-earnings ratio of 17.06, a P/E/G ratio of 1.30 and a beta of 1.59. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.13 and a current ratio of 2.12. Nucor Corporation has a twelve month low of $48.62 and a twelve month high of $68.00.

Nucor Corporation (NYSE:NUE) last issued its quarterly earnings data on Thursday, October 19th. The basic materials company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.78 by $0.01. The company had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Nucor Corporation had a net margin of 5.80% and a return on equity of 12.77%. Nucor Corporation’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.88 earnings per share. equities research analysts expect that Nucor Corporation will post 3.72 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Friday, September 29th will be paid a dividend of $0.3775 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.51 annualized dividend and a yield of 2.60%. Nucor Corporation’s dividend payout ratio is currently 43.90%.

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Several equities analysts have recently weighed in on NUE shares. Berenberg Bank reiterated a “buy” rating and issued a $77.50 price objective on shares of Nucor Corporation in a research note on Wednesday, July 19th. Jefferies Group LLC reiterated a “buy” rating and issued a $68.00 price objective on shares of Nucor Corporation in a research note on Wednesday, July 19th. Morgan Stanley reissued a “buy” rating on shares of Nucor Corporation in a report on Tuesday, July 18th. Longbow Research reissued a “buy” rating and issued a $66.00 target price on shares of Nucor Corporation in a report on Thursday, July 27th. Finally, Bank of America Corporation reissued a “buy” rating and issued a $73.00 target price on shares of Nucor Corporation in a report on Wednesday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. Nucor Corporation currently has an average rating of “Hold” and a consensus target price of $67.32.

In related news, Chairman John J. Ferriola sold 15,131 shares of the business’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $60.40, for a total transaction of $913,912.40. Following the completion of the transaction, the chairman now owns 349,506 shares of the company’s stock, valued at $21,110,162.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Victoria F. Haynes sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $55.16, for a total transaction of $137,900.00. Following 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. In the last ninety days, insiders have sold 26,634 shares of company stock valued at $1,589,472. 0.70% of the stock is owned by corporate insiders.

Nucor Corporation 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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