The Nucor Corp. (NUE) Stake Held by Monarch Capital Management Inc.

The Nucor Corp. (NUE) Stake Held by Monarch Capital Management Inc.

Monarch Capital Management Inc. continued to hold its stake in shares of Nucor Corp. (NYSE:NUE) during the second quarter, Holdings Channel reports. The institutional investor owned 6,744 shares of the company’s stock at the end of the second quarter. Monarch Capital Management Inc.’s holdings in Nucor Corp. were worth $333,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NUE. Acadian Asset Management LLC boosted its stake in shares of Nucor Corp. by 759.7% in the second quarter. Acadian Asset Management LLC now owns 478,296 shares of the company’s stock valued at $23,633,000 after buying an additional 422,661 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Nucor Corp. by 1,678.3% in the first quarter. Renaissance Technologies LLC now owns 1,063,400 shares of the company’s stock valued at $50,299,000 after buying an additional 1,003,600 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Nucor Corp. by 8.7% in the first quarter. Geode Capital Management LLC now owns 2,779,945 shares of the company’s stock valued at $131,245,000 after buying an additional 223,580 shares in the last quarter. National Pension Service boosted its stake in shares of Nucor Corp. by 4.4% in the first quarter. National Pension Service now owns 203,541 shares of the company’s stock valued at $9,627,000 after buying an additional 8,649 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Nucor Corp. by 2.7% in the first quarter. Legal & General Group Plc now owns 1,481,290 shares of the company’s stock valued at $70,071,000 after buying an additional 39,278 shares in the last quarter. 77.95% of the stock is owned by institutional investors.

Shares of Nucor Corp. (NYSE:NUE) traded up 0.13% during midday trading on Monday, hitting $46.92. 1,146,893 shares of the company’s stock were exchanged. Nucor Corp. has a 1-year low of $33.90 and a 1-year high of $57.08. The stock’s 50 day moving average is $47.94 and its 200-day moving average is $49.61. The stock has a market cap of $14.94 billion, a PE ratio of 32.16 and a beta of 1.47.

Nucor Corp. (NYSE:NUE) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. The business earned $4.25 billion during the quarter, compared to the consensus estimate of $4.49 billion. Nucor Corp. had a net margin of 3.00% and a return on equity of 8.58%. Analysts predict that Nucor Corp. will post $2.67 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.375 per share. The ex-dividend date is Wednesday, September 28th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.20%. Nucor Corp.’s dividend payout ratio (DPR) is presently 102.04%.

NUE has been the subject of several research reports. Citigroup Inc. initiated coverage on shares of Nucor Corp. in a research note on Monday, August 22nd. They set a “neutral” rating and a $55.00 price objective for the company. Bank of America Corp. cut shares of Nucor Corp. from a “buy” rating to a “neutral” rating and set a $56.00 price objective for the company. in a research note on Wednesday, July 20th. BMO Capital Markets set a $51.00 price objective on shares of Nucor Corp. and gave the company a “hold” rating in a research note on Wednesday, September 14th. Jefferies Group dropped their price objective on shares of Nucor Corp. from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, September 15th. Finally, Berenberg Bank reaffirmed a “hold” rating and set a $57.50 price objective on shares of Nucor Corp. in a research note on Tuesday, September 20th. One analyst has rated the stock with a sell rating, ten have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Nucor Corp. has an average rating of “Buy” and a consensus price target of $52.99.

In related news, Chairman John J. Ferriola sold 12,128 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $54.12, for a total value of $656,367.36. Following the sale, the chairman now directly owns 354,420 shares of the company’s stock, valued at $19,181,210.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James D. Frias sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $53.14, for a total transaction of $478,260.00. Following the completion of the sale, the chief financial officer now directly owns 156,065 shares in the company, valued at $8,293,294.10. The disclosure for this sale can be found here. Insiders own 0.63% of the company’s stock.

Nucor Corp. 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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