Charter Trust Co buys $865,317 stake in Nucor Corporation (NUE)

Nucor Corporation (NUE) : Charter Trust Co scooped up 140 additional shares in Nucor Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 14, 2016. The investment management firm now holds a total of 18,466 shares of Nucor Corporation which is valued at $865,317.Nucor Corporation makes up approximately 0.10% of Charter Trust Co’s portfolio.

Other Hedge Funds, Including , Legal General Group Plc boosted its stake in NUE in the latest quarter, The investment management firm added 18,850 additional shares and now holds a total of 1,576,912 shares of Nucor Corporation which is valued at $74,745,629. Nucor Corporation makes up approx 0.08% of Legal General Group Plc’s portfolio.British Columbia Investment Management Corp reduced its stake in NUE by selling 52,562 shares or 26.44% in the most recent quarter. The Hedge Fund company now holds 146,253 shares of NUE which is valued at $6,932,392. Nucor Corporation makes up approx 0.07% of British Columbia Investment Management Corp’s portfolio.Chevy Chase Trust Holdings boosted its stake in NUE in the latest quarter, The investment management firm added 79,621 additional shares and now holds a total of 351,214 shares of Nucor Corporation which is valued at $16,875,833. Nucor Corporation makes up approx 0.09% of Chevy Chase Trust Holdings’s portfolio.Washington Trust Bank reduced its stake in NUE by selling 645 shares or 59.01% in the most recent quarter. The Hedge Fund company now holds 448 shares of NUE which is valued at $21,526. Nucor Corporation makes up approx 0.01% of Washington Trust Bank’s portfolio.

Nucor Corporation opened for trading at $46.88 and hit $47.26 on the upside on Friday, eventually ending the session at $46.86, with a gain of 0.69% or 0.32 points. The heightened volatility saw the trading volume jump to 20,96,934 shares. Company has a market cap of $14,918 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. Citigroup Initiated Nucor Corporation on Aug 22, 2016 to “Neutral”, Price Target of the shares are set at $55.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 (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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