CWA Asset Management Group LLC lifted its position in Nucor Corporation (NYSE:NUE) by 7.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 35,994 shares of the basic materials company’s stock after purchasing an additional 2,380 shares during the quarter. CWA Asset Management Group LLC’s holdings in Nucor Corporation were worth $2,083,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of NUE. Washington Trust Bank grew its holdings in shares of Nucor Corporation by 60.2% in the 2nd 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. bought a new stake in shares of Nucor Corporation in the 2nd quarter worth about $109,000. Advantage Investment Management LLC grew its holdings in shares of Nucor Corporation by 164.9% in the 1st quarter. Advantage Investment Management LLC now owns 1,854 shares of the basic materials company’s stock worth $111,000 after purchasing an additional 1,154 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of Nucor Corporation by 0.7% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 2,147 shares of the basic materials company’s stock worth $128,000 after purchasing an additional 15 shares during the last quarter. Finally, Valley National Advisers Inc. grew its holdings in shares of Nucor Corporation by 12.0% in the 1st quarter. Valley National Advisers Inc. now owns 2,340 shares of the basic materials company’s stock worth $140,000 after purchasing an additional 250 shares during the last quarter. 75.00% of the stock is currently owned by institutional investors and hedge funds.
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In other news, insider Leon J. Topalian sold 2,626 shares of the business’s stock in a transaction dated 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 directly owns 19,610 shares in the company, valued at $1,181,110.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider David A. Sumoski sold 2,537 shares of the business’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $61.66, for a total value of $156,431.42. Following the sale, the insider now owns 62,434 shares in the company, valued at $3,849,680.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,104 shares of company stock worth $1,213,595. Company insiders own 0.70% of the company’s stock.
Nucor Corporation (NYSE NUE) traded down 2.233% on Tuesday, reaching $52.765. 2,612,998 shares of the company’s stock were exchanged. Nucor Corporation has a 52 week low of $44.81 and a 52 week high of $68.00. The stock’s 50 day moving average is $56.18 and its 200 day moving average is $58.69. The company has a market cap of $16.85 billion, a price-to-earnings ratio of 14.813 and a beta of 1.53.
Nucor Corporation (NYSE:NUE) last released its quarterly earnings results on Thursday, July 20th. The basic materials company reported $1.00 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.06). The firm had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $5.08 billion. Nucor Corporation had a return on equity of 13.39% and a net margin of 6.08%. The business’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.73 earnings per share. On average, equities analysts anticipate that Nucor Corporation will post $4.14 earnings per share for the current year.
Several equities research analysts have recently weighed in on the stock. BidaskClub raised shares of Nucor Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Zacks Investment Research lowered shares of Nucor Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. KeyCorp reaffirmed an “overweight” rating and issued a $66.00 target price (down previously from $72.00) on shares of Nucor Corporation in a report on Monday, June 26th. ValuEngine lowered shares of Nucor Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Credit Suisse Group raised shares of Nucor Corporation from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $56.00 to $68.00 in a report on Wednesday, May 24th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $68.47.
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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