South State Corp cut its holdings in Nucor Corporation (NYSE:NUE) by 2.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 60,596 shares of the basic materials company’s stock after selling 1,379 shares during the quarter. South State Corp’s holdings in Nucor Corporation were worth $3,507,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Chicago Equity Partners LLC acquired a new position in shares of Nucor Corporation during the first quarter worth about $201,000. Bbva Compass Bancshares Inc. increased its stake in shares of Nucor Corporation by 5.0% during the first quarter. Bbva Compass Bancshares Inc. now owns 5,044 shares of the basic materials company’s stock worth $301,000 after acquiring an additional 241 shares during the period. DekaBank Deutsche Girozentrale increased its stake in shares of Nucor Corporation by 12.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 114,334 shares of the basic materials company’s stock worth $6,904,000 after acquiring an additional 12,685 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Nucor Corporation by 1,225.7% during the first quarter. Daiwa Securities Group Inc. now owns 263,150 shares of the basic materials company’s stock worth $15,715,000 after acquiring an additional 243,300 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of Nucor Corporation by 0.7% during the first quarter. Massmutual Trust Co. FSB ADV now owns 2,147 shares of the basic materials company’s stock worth $128,000 after acquiring an additional 15 shares during the period. Institutional investors own 75.00% of the company’s stock.
In related news, Chairman John J. Ferriola sold 14,941 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chairman now directly 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 the SEC website. Also, insider Leon J. Topalian sold 2,626 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $60.23, for a total transaction of $158,163.98. Following the sale, the insider now owns 19,610 shares of the company’s stock, valued at $1,181,110.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,104 shares of company stock valued at $1,213,595. Corporate insiders own 0.70% of the company’s stock.
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Shares of Nucor Corporation (NYSE NUE) traded down 2.76% during mid-day trading on Tuesday, hitting $52.48. 2,230,018 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $56.18 and a 200-day moving average price of $58.69. Nucor Corporation has a 1-year low of $44.81 and a 1-year high of $68.00. The stock has a market cap of $16.76 billion, a P/E ratio of 14.73 and a beta of 1.53.
Nucor Corporation (NYSE:NUE) last announced its earnings results on Thursday, July 20th. The basic materials company reported $1.00 EPS 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 firm had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.08 billion. During the same quarter in the previous year, the business earned $0.73 earnings per share. The business’s quarterly revenue was up 21.9% compared to the same quarter last year. Equities research analysts anticipate that Nucor Corporation will post $4.14 EPS for the current fiscal year.
A number of research analysts have recently issued reports on NUE shares. Morgan Stanley reiterated a “buy” rating on shares of Nucor Corporation in a research note on Tuesday, July 18th. ValuEngine lowered shares of Nucor Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 16th. Longbow Research upgraded shares of Nucor Corporation from a “neutral” rating to a “buy” rating in a research note on Monday, June 19th. KeyCorp reiterated an “overweight” rating and set a $66.00 price target (down from $72.00) on shares of Nucor Corporation in a research note on Monday, June 26th. Finally, BMO Capital Markets set a $70.00 price target on shares of Nucor Corporation and gave the stock a “hold” rating in a research note on Saturday, August 26th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $68.47.
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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