Visionary Asset Management adds Nucor Corporation (NUE) to its portfolio

Nucor Corporation (NUE) : Visionary Asset Management added new position in Nucor Corporation during the most recent quarter end. The investment management firm now holds 55,786 shares of Nucor Corporation which is valued at $2,761,965 , the company said in a statement filed on Apr 14, 2016 with the SEC.Nucor Corporation makes up approximately 0.97% of Visionary Asset Management’s portfolio.

Nucor Corporation opened for trading at $49.35 and hit $49.94 on the upside on Monday, eventually ending the session at $49.86, with a gain of 0.71% or 0.35 points. The heightened volatility saw the trading volume jump to 22,80,025 shares. Company has a market cap of $15,853 M.

Other Hedge Funds, Including , Oakbrook Investments boosted its stake in NUE in the latest quarter, The investment management firm added 600 additional shares and now holds a total of 33,675 shares of Nucor Corporation which is valued at $1,667,249. Nucor Corporation makes up approx 0.11% of Oakbrook Investments’s portfolio.Gradient Investments boosted its stake in NUE in the latest quarter, The investment management firm added 13 additional shares and now holds a total of 25 shares of Nucor Corporation which is valued at $1,238. Breton Hill Capital Ltd. sold out all of its stake in NUE during the most recent quarter. The investment firm sold 9,508 shares of NUE which is valued $470,741.Catawba Capital Management Va reduced its stake in NUE by selling 67 shares or 0.13% in the most recent quarter. The Hedge Fund company now holds 52,343 shares of NUE which is valued at $2,495,191. Nucor Corporation makes up approx 0.64% of Catawba Capital Management Va’s portfolio.First Financial Bank N.a. – Trust Division boosted its stake in NUE in the latest quarter, The investment management firm added 3,658 additional shares and now holds a total of 64,466 shares of Nucor Corporation which is valued at $3,073,094. Nucor Corporation makes up approx 0.61% of First Financial Bank N.a. – Trust Division’s portfolio.

On the company’s financial health, Nucor Corporation reported $0.46 EPS for the quarter, beating the analyst consensus estimate by $ 0.24 according to the earnings call on Jan 28, 2016. Analyst had a consensus of $0.22. The company had revenue of $3456.70 million for the quarter, compared to analysts expectations of $3607.13 million. The company’s revenue was down -30.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.68 EPS.

Many Wall Street Analysts have commented on Nucor Corporation. Nucor Corporation was Downgraded by Standpoint Research to ” Hold” on Apr 13, 2016. Company shares were Downgraded by Deutsche Bank on Mar 23, 2016 to ” Hold”, Firm has raised the Price Target to $ 50 from a previous price target of $48 .Nucor Corporation was Initiated by Credit Suisse to “Neutral” on Mar 11, 2016.

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. In the steel mills segment Nucor produces and distributes sheet steel plate steel structural steel and bar steel. In the steel products segment Nucor produces steel joists and joist girders steel deck fabricated concrete reinforcing steel cold finished steel steel fasteners metal building systems steel grating and expanded metal and wire and wire mesh. In the raw materials segment the Company produces DRI; brokers ferrous and nonferrous metals pig iron HBI and DRI; supplies ferro-alloys and processes ferrous and nonferrous scrap metal.

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