The Nucor Corporation (NUE) Position Raised by Wesbanco Bank Inc., Report finds

The Nucor Corporation (NUE) Position Raised by Wesbanco Bank Inc., Report finds

Other institutional investors have also recently modified their holdings of the company. Commonwealth Equity Services Inc boosted its position in shares of Nucor Corporation by 29.5% in the third quarter. Commonwealth Equity Services Inc now owns 156,917 shares of the company’s stock valued at $7,760,000 after buying an additional 35,753 shares in the last quarter. APG Asset Management N.V. boosted its position in shares of Nucor Corporation by 50.9% in the third quarter. APG Asset Management N.V. now owns 689,260 shares of the company’s stock valued at $34,084,000 after buying an additional 232,500 shares in the last quarter. BB&T Securities LLC boosted its position in shares of Nucor Corporation by 5.8% in the third quarter. BB&T Securities LLC now owns 36,708 shares of the company’s stock valued at $1,815,000 after buying an additional 2,003 shares in the last quarter. Quantitative Investment Management LLC boosted its position in shares of Nucor Corporation by 172.1% in the third quarter. Quantitative Investment Management LLC now owns 129,500 shares of the company’s stock valued at $6,403,000 after buying an additional 81,900 shares in the last quarter. Finally, Schroder Investment Management Group boosted its position in shares of Nucor Corporation by 169.9% in the third quarter. Schroder Investment Management Group now owns 262,265 shares of the company’s stock valued at $12,969,000 after buying an additional 165,096 shares in the last quarter. 77.11% of the stock is owned by hedge funds and other institutional investors.

Wesbanco Bank Inc. boosted its stake in shares of Nucor Corporation (NYSE:NUE) by 1.4% during the fourth quarter, Holdings Channel reports. The firm owned 14,685 shares of the company’s stock after buying an additional 200 shares during the period. Wesbanco Bank Inc.’s holdings in Nucor Corporation were worth $874,000 at the end of the most recent quarter.

Nucor Corporation (NYSE:NUE) traded up 3.02% during midday trading on Thursday, hitting $60.04. 2,773,972 shares of the stock traded hands. The company’s 50-day moving average is $60.10 and its 200 day moving average is $54.54. The firm has a market cap of $19.21 billion, a P/E ratio of 24.21 and a beta of 1.45. Nucor Corporation has a 12-month low of $37.71 and a 12-month high of $68.00.

Nucor Corporation (NYSE:NUE) last released its earnings results on Tuesday, January 31st. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.16. Nucor Corporation had a return on equity of 9.32% and a net margin of 4.53%. The company earned $3.96 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter last year, the company earned $0.46 earnings per share. Nucor Corporation’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, analysts anticipate that Nucor Corporation will post $3.58 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 10th. Shareholders of record on Friday, December 30th will be issued a $0.3775 dividend. The ex-dividend date of this dividend is Wednesday, December 28th. This represents a $1.51 dividend on an annualized basis and a yield of 2.59%. This is an increase from Nucor Corporation’s previous quarterly dividend of $0.38. Nucor Corporation’s dividend payout ratio (DPR) is 65.94%.

NUE has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Nucor Corporation from a “strong sell” rating to a “hold” rating in a report on Friday, November 11th. Argus restated a “buy” rating and issued a $65.00 price objective (up previously from $58.00) on shares of Nucor Corporation in a report on Monday, November 21st. Macquarie cut shares of Nucor Corporation from a “neutral” rating to an “underperform” rating in a report on Tuesday, November 29th. Deutsche Bank AG upped their price objective on shares of Nucor Corporation from $55.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, December 5th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $77.00 price objective (up previously from $55.00) on shares of Nucor Corporation in a report on Tuesday, December 13th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $62.14.

Nucor Corporation Company Profile

Nucor Corporation (Nucor) manufactures steel and steel products. The Company also produces direct reduced iron (DRI) for use in the Company’s steel mills. It also processes ferrous and nonferrous metals and brokers ferrous and nonferrous metals, pig iron, hot briquetted iron (HBI) and DRI. Nucor operates in three segments: steel mills, steel products and raw materials.

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