Horrell Capital Management Lowers stake in Nucor Corporation (NUE)

Nucor Corporation (NUE) : Horrell Capital Management reduced its stake in Nucor Corporation by 0.51% during the most recent quarter end. The investment management company now holds a total of 26,862 shares of Nucor Corporation which is valued at $1,436,043 after selling 138 shares in Nucor Corporation , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Nucor Corporation makes up approximately 0.90% of Horrell Capital Management’s portfolio.

Other Hedge Funds, Including , Umb Bank N Amo boosted its stake in NUE in the latest quarter, The investment management firm added 36,368 additional shares and now holds a total of 62,843 shares of Nucor Corporation which is valued at $3,359,587. Nucor Corporation makes up approx 0.14% of Umb Bank N Amo’s portfolio.Nordea Investment Management Ab boosted its stake in NUE in the latest quarter, The investment management firm added 38 additional shares and now holds a total of 69,997 shares of Nucor Corporation which is valued at $3,786,138. Nucor Corporation makes up approx 0.01% of Nordea Investment Management Ab’s portfolio.Gateway Investment Advisers reduced its stake in NUE by selling 588 shares or 1.19% in the most recent quarter. The Hedge Fund company now holds 48,874 shares of NUE which is valued at $2,757,471. Nucor Corporation makes up approx 0.02% of Gateway Investment Advisers’s portfolio.Kistler-tiffany Companies boosted its stake in NUE in the latest quarter, The investment management firm added 15 additional shares and now holds a total of 913 shares of Nucor Corporation which is valued at $48,562. Nucor Corporation makes up approx 0.02% of Kistler-tiffany Companies’s portfolio.

Nucor Corporation closed down -0.17 points or -0.32% at $53.64 with 23,92,171 shares getting traded on Friday. Post opening the session at $53.7, the shares hit an intraday low of $53.21 and an intraday high of $53.995 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Nucor Corporation reported $0.73 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 21, 2016. Analyst had a consensus of $0.69. The company had revenue of $4246.00 million for the quarter, compared to analysts expectations of $4508.36 million. The company’s revenue was down -2.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.39 EPS.

Many Wall Street Analysts have commented on Nucor Corporation. Company shares were Reiterated by Cowen on Jul 26, 2016 to “Market Perform”, Firm has raised the Price Target to $ 55 from a previous price target of $50 .Nucor Corporation was Downgraded by Berenberg to ” Hold” on Jul 22, 2016. Nucor Corporation was Downgraded by BofA/Merrill to ” Neutral” on Jul 20, 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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