Comerica Securities Inc buys $971,836 stake in Nucor Corporation (NUE)

Nucor Corporation (NUE) : Comerica Securities Inc scooped up 9,026 additional shares in Nucor Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 20,651 shares of Nucor Corporation which is valued at $971,836.Nucor Corporation makes up approximately 0.73% of Comerica Securities Inc’s portfolio.

Other Hedge Funds, Including , First Personal Financial Services boosted its stake in NUE in the latest quarter, The investment management firm added 22,357 additional shares and now holds a total of 57,296 shares of Nucor Corporation which is valued at $2.7 Million. Nucor Corporation makes up approx 1.33% of First Personal Financial Services’s portfolio.Blackrock Institutional Trust Company N.a. reduced its stake in NUE by selling 99,247 shares or 1.14% in the most recent quarter. The Hedge Fund company now holds 8,621,612 shares of NUE which is valued at $405.7 Million. Nucor Corporation makes up approx 0.07% of Blackrock Institutional Trust Company N.a.’s portfolio.Wfg Advisors Lp boosted its stake in NUE in the latest quarter, The investment management firm added 6 additional shares and now holds a total of 755 shares of Nucor Corporation which is valued at $35,530. Nucor Corporation makes up approx 0.01% of Wfg Advisors Lp’s portfolio. Court Place Advisors added NUE to its portfolio by purchasing 4,199 company shares during the most recent quarter which is valued at $205,121. Nucor Corporation makes up approx 0.13% of Court Place Advisors’s portfolio.Killen Group Inc boosted its stake in NUE in the latest quarter, The investment management firm added 73,756 additional shares and now holds a total of 86,541 shares of Nucor Corporation which is valued at $4.3 Million. Nucor Corporation makes up approx 0.60% of Killen Group Inc’s portfolio.

Nucor Corporation opened for trading at $47.29 and hit $48.3 on the upside on Monday, eventually ending the session at $47.81, with a gain of 1.59% or 0.75 points. The heightened volatility saw the trading volume jump to 20,28,613 shares. Company has a market cap of $15,200 M.

On the company’s financial health, Nucor Corporation 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 Corporation. Company shares were Reiterated by Rosenblatt on May 10, 2016 to “Neutral”, Firm has raised the Price Target to $ 51 from a previous price target of $47 .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 Corporation was Downgraded by Credit Agricole to ” Sell” on Apr 22, 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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