AHL Partners LLP Trims Position in Nucor Corporation (NUE)

AHL Partners LLP decreased its position in shares of Nucor Corporation (NYSE:NUE) by 37.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,565 shares of the basic materials company’s stock after selling 22,321 shares during the period. AHL Partners LLP’s holdings in Nucor Corporation were worth $2,174,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. GLG Partners LP acquired a new stake in Nucor Corporation during the second quarter valued at $385,000. Sun Life Financial INC boosted 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 valued at $135,000 after purchasing an additional 2,329 shares during the last quarter. UBS Oconnor LLC boosted its position in Nucor Corporation by 72.9% during the second quarter. UBS Oconnor LLC now owns 107,639 shares of the basic materials company’s stock valued at $6,229,000 after purchasing an additional 45,396 shares during the last quarter. HighTower Advisors LLC boosted its position in Nucor Corporation by 11.0% during the second quarter. HighTower Advisors LLC now owns 54,774 shares of the basic materials company’s stock valued at $3,170,000 after purchasing an additional 5,425 shares during the last quarter. Finally, People s United Financial Inc. boosted its position in Nucor Corporation by 12.9% during the second quarter. People s United Financial Inc. now owns 6,788 shares of the basic materials company’s stock valued at $393,000 after purchasing an additional 778 shares during the last quarter. 74.86% of the stock is owned by hedge funds and other institutional investors.

Shares of Nucor Corporation (NUE) opened at 57.42 on Friday. The firm has a 50 day moving average price of $55.11 and a 200-day moving average price of $57.58. The firm has a market cap of $18.34 billion, a PE ratio of 16.12 and a beta of 1.54. Nucor Corporation has a 12 month low of $45.30 and a 12 month high of $68.00.

Nucor Corporation (NYSE:NUE) last posted its quarterly earnings data on Thursday, July 20th. The basic materials company reported $1.00 EPS for the quarter, missing the Zacks’ 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 for the quarter, compared to analyst estimates of $5.08 billion. During the same quarter in the prior year, the company earned $0.73 earnings per share. The company’s quarterly revenue was up 21.9% on a year-over-year basis. On average, analysts predict that Nucor Corporation will post $3.85 EPS for the current fiscal year.

The firm 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 dividend of $0.3775 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 2.63%. Nucor Corporation’s dividend payout ratio is 43.77%.

NUE has been the subject of a number of research reports. Jefferies Group LLC set a $68.00 price objective on Nucor Corporation and gave the company a “buy” rating in a research report on Monday, August 21st. Berenberg Bank reissued a “buy” rating and set a $77.50 price objective on shares of Nucor Corporation in a research report on Wednesday, July 19th. Morgan Stanley reissued a “buy” rating on shares of Nucor Corporation in a research report on Tuesday, July 18th. Longbow Research reissued a “buy” rating and set a $66.00 price objective on shares of Nucor Corporation in a research report on Thursday, July 27th. Finally, Bank of America Corporation reissued a “buy” rating and set a $73.00 price objective 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 assigned a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $67.13.

In other news, Director Victoria F. Haynes sold 2,500 shares of the stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $55.16, for a total transaction of $137,900.00. Following the completion of the transaction, the director now directly owns 33,573 shares in the company, valued at approximately $1,851,886.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Leon J. Topalian sold 2,626 shares of the 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 transaction, 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 90 days, insiders have sold 22,604 shares of company stock valued at $1,351,495. Company insiders own 0.70% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This news story was originally reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this news story on another domain, it was stolen and republished in violation of US and international trademark & copyright law. The original version of this news story can be accessed at https://sportsperspectives.com/2017/10/13/ahl-partners-llp-trims-position-in-nucor-corporation-nue.html.

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).

Want to see what other hedge funds are holding NUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nucor Corporation (NYSE:NUE).

Institutional Ownership by Quarter for Nucor Corporation (NYSE:NUE)

Receive News & Ratings for Nucor Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply