Cliftonlarsonallen Wealth Advisors LLC boosted its stake in Nucor Corporation (NYSE:NUE) by 6.0% during the second quarter, Holdings Channel reports. The fund owned 11,816 shares of the basic materials company’s stock after buying an additional 674 shares during the period. Cliftonlarsonallen Wealth Advisors LLC’s holdings in Nucor Corporation were worth $684,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in the company. Washington Trust Bank boosted its stake in shares of Nucor Corporation by 60.2% in the second quarter. Washington Trust Bank now owns 1,756 shares of the basic materials company’s stock valued at $102,000 after buying an additional 660 shares during the last quarter. Advantage Investment Management LLC boosted its position 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 valued at $111,000 after buying an additional 1,154 shares in the last quarter. Ledyard National Bank bought a new position in Nucor Corporation during the first quarter valued at about $122,000. Massmutual Trust Co. FSB ADV boosted its position 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 valued at $128,000 after buying an additional 15 shares in the last quarter. Finally, Valley National Advisers Inc. boosted its position 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 valued at $140,000 after buying an additional 250 shares in the last quarter. 76.57% of the stock is currently owned by hedge funds and other institutional investors.
Nucor Corporation (NYSE NUE) opened at 57.86 on Tuesday. Nucor Corporation has a 52-week low of $44.81 and a 52-week high of $68.00. The firm has a market cap of $18.54 billion, a price-to-earnings ratio of 16.24 and a beta of 1.51. The company has a 50-day moving average of $58.35 and a 200 day moving average of $59.71.
Nucor Corporation (NYSE:NUE) last issued its quarterly earnings data on Thursday, July 20th. The basic materials company reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.06 by $0.06. Nucor Corporation had a return on equity of 13.39% and a net margin of 6.08%. The business had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.08 billion. During the same quarter last year, the firm earned $0.73 EPS. Nucor Corporation’s revenue for the quarter was up 21.9% compared to the same quarter last year. On average, equities research analysts anticipate that Nucor Corporation will post $4.18 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 11th. Stockholders of record on Friday, June 30th will be paid a $0.3775 dividend. This represents a $1.51 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date is Wednesday, June 28th. Nucor Corporation’s dividend payout ratio is currently 43.77%.
NUE has been the topic of several research reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $68.00 price target on shares of Nucor Corporation in a report on Wednesday, July 19th. Longbow Research reaffirmed a “buy” rating and issued a $66.00 price target on shares of Nucor Corporation in a report on Thursday, July 27th. Zacks Investment Research raised Nucor Corporation from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a report on Tuesday, April 11th. ValuEngine cut Nucor Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 16th. Finally, KeyCorp reiterated an “overweight” rating and set a $66.00 price objective (down from $72.00) on shares of Nucor Corporation in a research report on Monday, June 26th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. Nucor Corporation has an average rating of “Buy” and a consensus price target of $68.76.
In other Nucor Corporation news, Chairman John J. Ferriola sold 14,941 shares of the company’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $60.17, for a total transaction of $898,999.97. Following the transaction, the chairman now owns 361,847 shares in the company, valued at $21,772,333.99. The transaction was disclosed in a filing with the SEC, which is accessible 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 stock was sold at an average price of $61.66, for a total transaction of $156,431.42. Following the transaction, the insider now owns 62,434 shares in the company, valued at approximately $3,849,680.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,104 shares of company stock worth $1,213,595. 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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