Hamlin Capital Management Lowers stake in Nucor Corporation (NUE)

Nucor Corporation (NUE) : Hamlin Capital Management reduced its stake in Nucor Corporation by 12.74% during the most recent quarter end. The investment management company now holds a total of 1,399,722 shares of Nucor Corporation which is valued at $68,376,420 after selling 204,418 shares in Nucor Corporation , the firm said in a disclosure report filed with the SEC on May 2, 2016.Nucor Corporation makes up approximately 3.51% of Hamlin Capital Management’s portfolio.

Nucor Corporation opened for trading at $48.41 and hit $48.96 on the upside on Friday, eventually ending the session at $48.85, with a gain of 0.80% or 0.39 points. The heightened volatility saw the trading volume jump to 20,85,048 shares. Company has a market cap of $15,531 M.

Other Hedge Funds, Including , Capital Fund Management S.a. reduced its stake in NUE by selling 470,674 shares or 81.19% in the most recent quarter. The Hedge Fund company now holds 109,077 shares of NUE which is valued at $5,328,411. Nucor Corporation makes up approx 0.09% of Capital Fund Management S.a.’s portfolio.Quadrant Capital Group boosted its stake in NUE in the latest quarter, The investment management firm added 88 additional shares and now holds a total of 558 shares of Nucor Corporation which is valued at $27,777. Nucor Corporation makes up approx 0.02% of Quadrant Capital Group’s portfolio.

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 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 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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