Trade Report: Today: Nucor Corp. (NUE) Position Held by Parsons Capital Management Inc. RI

Today: Nucor Corp. (NUE) Position Held by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI maintained its stake in Nucor Corp. (NYSE:NUE) during the third quarter, Holdings Channel reports. The firm owned 14,100 shares of the company’s stock at the end of the third quarter. Parsons Capital Management Inc. RI’s holdings in Nucor Corp. were worth $697,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Blue Chip Partners Inc. acquired a new stake in Nucor Corp. during the second quarter valued at approximately $102,000. TCI Wealth Advisors Inc. raised its stake in Nucor Corp. by 3.5% in the third quarter. TCI Wealth Advisors Inc. now owns 2,070 shares of the company’s stock valued at $102,000 after buying an additional 70 shares during the last quarter. NEXT Financial Group Inc raised its stake in Nucor Corp. by 4.5% in the second quarter. NEXT Financial Group Inc now owns 2,310 shares of the company’s stock valued at $114,000 after buying an additional 100 shares during the last quarter. SevenBridge Financial Group LLC acquired a new stake in Nucor Corp. during the second quarter valued at approximately $114,000. Finally, Tuttle Tactical Management LLC acquired a new stake in Nucor Corp. during the second quarter valued at approximately $116,000. 76.77% of the stock is currently owned by institutional investors and hedge funds.

Shares of Nucor Corp. (NYSE:NUE) traded down 1.37% during mid-day trading on Monday, reaching $61.99. 1,186,807 shares of the company’s stock were exchanged. The company has a market capitalization of $19.74 billion, a PE ratio of 38.89 and a beta of 1.38. The company’s 50-day moving average price is $52.14 and its 200-day moving average price is $50.56. Nucor Corp. has a one year low of $33.90 and a one year high of $62.90.

Nucor Corp. (NYSE:NUE) last posted its earnings results on Thursday, October 20th. The company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by $0.06. The business had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Nucor Corp. had a net margin of 3.26% and a return on equity of 9.27%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period last year, the business posted $0.71 EPS. On average, equities analysts expect that Nucor Corp. will post $2.34 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Friday, September 30th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend was Wednesday, September 28th. Nucor Corp.’s dividend payout ratio (DPR) is 93.75%.

Several research firms recently commented on NUE. Berenberg Bank raised shares of Nucor Corp. from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $57.50 to $57.00 in a research note on Wednesday, November 2nd. BMO Capital Markets reissued a “hold” rating on shares of Nucor Corp. in a research note on Thursday, October 20th. Citigroup Inc. reissued a “neutral” rating on shares of Nucor Corp. in a research note on Saturday, October 22nd. Bank of America Corp. raised shares of Nucor Corp. from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $50.00 to $57.00 in a research note on Wednesday, November 9th. Finally, Zacks Investment Research raised shares of Nucor Corp. from a “strong sell” rating to a “hold” rating in a research note on Friday, November 11th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company. Nucor Corp. currently has an average rating of “Hold” and a consensus price target of $53.75.

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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