Valley National Advisers Inc. increased its stake in Nucor Corporation (NYSE:NUE) by 12.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,340 shares of the basic materials company’s stock after buying an additional 250 shares during the period. Valley National Advisers Inc.’s holdings in Nucor Corporation were worth $140,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new position in Nucor Corporation during the fourth quarter valued at $7,411,000. FMR LLC boosted its position in Nucor Corporation by 905.2% in the fourth quarter. FMR LLC now owns 2,715,677 shares of the basic materials company’s stock valued at $161,637,000 after buying an additional 2,445,520 shares during the period. Pacad Investment Ltd. bought a new position in Nucor Corporation during the fourth quarter valued at $351,000. First Republic Investment Management Inc. boosted its position in Nucor Corporation by 14.5% in the fourth quarter. First Republic Investment Management Inc. now owns 12,074 shares of the basic materials company’s stock valued at $718,000 after buying an additional 1,532 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in Nucor Corporation during the fourth quarter valued at $39,038,000. Hedge funds and other institutional investors own 77.42% of the company’s stock.
Nucor Corporation (NUE) opened at 56.86 on Wednesday. Nucor Corporation has a one year low of $44.81 and a one year high of $68.00. The stock has a 50 day moving average of $58.23 and a 200 day moving average of $60.43. The firm has a market cap of $18.14 billion, a price-to-earnings ratio of 17.13 and a beta of 1.52.
Nucor Corporation (NYSE:NUE) last released its quarterly earnings results on Thursday, April 20th. The basic materials company reported $1.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.14 by $0.03. The business had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.67 billion. Nucor Corporation had a net margin of 5.90% and a return on equity of 12.63%. Nucor Corporation’s revenue was up 29.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.27 EPS. Equities research analysts predict that Nucor Corporation will post $4.29 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 11th. Stockholders of record on Friday, June 30th will be paid a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Wednesday, June 28th. Nucor Corporation’s payout ratio is currently 47.48%.
WARNING: “Valley National Advisers Inc. Increases Position in Nucor Corporation (NUE)” was first posted by sleekmoney and is owned by of sleekmoney. If you are reading this piece on another publication, it was copied illegally and reposted in violation of U.S. & international copyright & trademark law. The original version of this piece can be viewed at https://sleekmoney.com/valley-national-advisers-inc-increases-position-in-nucor-corporation-nue/1945678.html.
NUE has been the subject of several research analyst reports. Zacks Investment Research cut shares of Nucor Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, February 28th. Deutsche Bank AG boosted their price objective on shares of Nucor Corporation from $73.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, March 21st. J P Morgan Chase & Co boosted their price objective on shares of Nucor Corporation from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 22nd. BMO Capital Markets restated a “hold” rating and issued a $68.00 price objective on shares of Nucor Corporation in a research report on Monday, April 3rd. Finally, Jefferies Group LLC restated a “buy” rating and issued a $75.00 price objective (down previously from $77.00) on shares of Nucor Corporation in a research report on Wednesday, April 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $68.72.
In other news, Director Victoria F. Haynes sold 3,000 shares of the firm’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $61.52, for a total transaction of $184,560.00. Following the completion of the transaction, the director now owns 33,703 shares of the company’s stock, valued at $2,073,408.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman John J. Ferriola sold 12,232 shares of Nucor Corporation stock in a transaction on Tuesday, April 25th. The stock was sold at an average price of $61.60, for a total transaction of $753,491.20. Following the transaction, the chairman now directly owns 349,855 shares of the company’s stock, valued at approximately $21,551,068. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by company insiders.
About Nucor Corporation
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).
This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/valley-national-advisers-inc-increases-position-in-nucor-corporation-nue/1945678.html
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.