Jolley Asset Management buys $3,975,397 stake in NUCOR CORP COM (NUE)

NUCOR CORP COM (NUE) : Jolley Asset Management scooped up 2,901 additional shares in NUCOR CORP COM during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 21, 2016. The investment management firm now holds a total of 80,230 shares of NUCOR CORP COM which is valued at $3,975,397.NUCOR CORP COM makes up approximately 3.48% of Jolley Asset Management’s portfolio.

NUCOR CORP COM opened for trading at $49.61 and hit $50.66 on the upside on Wednesday, eventually ending the session at $50.61, with a gain of 2.22% or 1.1 points. The heightened volatility saw the trading volume jump to 22,55,577 shares. Company has a market cap of $16,091 M.

Other Hedge Funds, Including , Valley National Advisers Inc reduced its stake in NUE by selling 320 shares or 0.77% in the most recent quarter. The Hedge Fund company now holds 41,152 shares of NUE which is valued at $2,039,082. NUCOR CORP COM makes up approx 1.08% of Valley National Advisers Inc’s portfolio.Community Bank N.a. reduced its stake in NUE by selling 375 shares or 0.71% in the most recent quarter. The Hedge Fund company now holds 52,133 shares of NUE which is valued at $2,583,190. NUCOR CORP COM makes up approx 0.62% of Community Bank N.a.’s portfolio.Berkshire Asset Managementpa boosted its stake in NUE in the latest quarter, The investment management firm added 10,491 additional shares and now holds a total of 138,888 shares of NUCOR CORP COM which is valued at $6,876,345. NUCOR CORP COM makes up approx 1.06% of Berkshire Asset Managementpa’s portfolio.Lau Associates boosted its stake in NUE in the latest quarter, The investment management firm added 500 additional shares and now holds a total of 27,000 shares of NUCOR CORP COM which is valued at $1,336,770. NUCOR CORP COM makes up approx 1.36% of Lau Associates’s portfolio.

On the company’s financial health, NUCOR CORP COM reported $0.22 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Apr 21, 2016. Analyst had a consensus of $0.27. The company had revenue of $3715.58 million for the quarter, compared to analysts expectations of $3608.95 million. The company’s revenue was down -15.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.21 EPS.

Many Wall Street Analysts have commented on NUCOR CORP COM. Company shares were Reiterated by Cowen on Apr 27, 2016 to “Market Perform”, Firm has raised the Price Target to $ 50 from a previous price target of $45 .NUCOR CORP COM was Downgraded by Credit Agricole to ” Sell” on Apr 22, 2016. NUCOR CORP COM was Downgraded by Standpoint Research to ” Hold” on Apr 13, 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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