Flippin Bruce Porter Inc buys $4,112,773 stake in Nucor Corporation (NUE)

Nucor Corporation (NUE) : Flippin Bruce Porter Inc scooped up 5,375 additional shares in Nucor Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 8, 2016. The investment management firm now holds a total of 78,563 shares of Nucor Corporation which is valued at $4,112,773.Nucor Corporation makes up approximately 1.15% of Flippin Bruce Porter Inc’s portfolio.

Other Hedge Funds, Including , Advisors Asset Management reduced its stake in NUE by selling 1,550 shares or 1.53% in the most recent quarter. The Hedge Fund company now holds 99,788 shares of NUE which is valued at $5,223,902. Nucor Corporation makes up approx 0.08% of Advisors Asset Management’s portfolio.Mitsubishi Ufj Kokusai Asset Management Ltd. boosted its stake in NUE in the latest quarter, The investment management firm added 993 additional shares and now holds a total of 47,398 shares of Nucor Corporation which is valued at $2,536,267. Nucor Corporation makes up approx 0.06% of Mitsubishi Ufj Kokusai Asset Management Ltd.’s portfolio.Sippican Capital Advisors reduced its stake in NUE by selling 2,293 shares or 7.99% in the most recent quarter. The Hedge Fund company now holds 26,388 shares of NUE which is valued at $1,410,702. Nucor Corporation makes up approx 1.61% of Sippican Capital Advisors’s portfolio.Tnb Financial boosted its stake in NUE in the latest quarter, The investment management firm added 234 additional shares and now holds a total of 5,294 shares of Nucor Corporation which is valued at $286,352. Nucor Corporation makes up approx 0.07% of Tnb Financial’s portfolio.Catawba Capital Management Va reduced its stake in NUE by selling 535 shares or 1.02% in the most recent quarter. The Hedge Fund company now holds 51,808 shares of NUE which is valued at $2,802,295. Nucor Corporation makes up approx 0.66% of Catawba Capital Management Va’s portfolio.

Nucor Corporation opened for trading at $50.98 and hit $51.88 on the upside on Monday, eventually ending the session at $51.57, with a gain of 1.74% or 0.88 points. The heightened volatility saw the trading volume jump to 24,46,388 shares. Company has a market cap of $16,418 M.

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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