Peregrine Asset Advisers buys $7,233,767 stake in Nucor Corporation (NUE)

Nucor Corporation (NUE) : Peregrine Asset Advisers scooped up 80,408 additional shares in Nucor Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 142,706 shares of Nucor Corporation which is valued at $7,233,767.Nucor Corporation makes up approximately 5.08% of Peregrine Asset Advisers’s portfolio.

Other Hedge Funds, Including , New York Life Trust Co boosted its stake in NUE in the latest quarter, The investment management firm added 1,078 additional shares and now holds a total of 1,487 shares of Nucor Corporation which is valued at $75,376. Nucor Corporation makes up approx 0.35% of New York Life Trust Co’s portfolio.Pictet Asset Management Ltd boosted its stake in NUE in the latest quarter, The investment management firm added 900 additional shares and now holds a total of 168,655 shares of Nucor Corporation which is valued at $8,549,122. Nucor Corporation makes up approx 0.03% of Pictet Asset Management Ltd’s portfolio.Tower Research Capital (trc) reduced its stake in NUE by selling 5,105 shares or 53.57% in the most recent quarter. The Hedge Fund company now holds 4,425 shares of NUE which is valued at $224,303. Nucor Corporation makes up approx 0.02% of Tower Research Capital (trc)’s portfolio.Commonwealth Equity Services Inc reduced its stake in NUE by selling 672 shares or 0.55% in the most recent quarter. The Hedge Fund company now holds 121,164 shares of NUE which is valued at $6,488,332. Nucor Corporation makes up approx 0.05% of Commonwealth Equity Services Inc’s portfolio.First Midwest Bank Trust Division boosted its stake in NUE in the latest quarter, The investment management firm added 18,740 additional shares and now holds a total of 68,309 shares of Nucor Corporation which is valued at $3,651,799. Nucor Corporation makes up approx 0.44% of First Midwest Bank Trust Division’s portfolio.

Nucor Corporation opened for trading at $48.6 and hit $49.47 on the upside on Thursday, eventually ending the session at $49.3, with a gain of 1.63% or 0.79 points. The heightened volatility saw the trading volume jump to 27,00,557 shares. Company has a market cap of $15,695 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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