Nucor Co. (NYSE:NUE) Stock Position Boosted by International Assets Investment Management LLC

International Assets Investment Management LLC grew its stake in shares of Nucor Co. (NYSE:NUE) by 14,525.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 326,889 shares of the basic materials company’s stock after buying an additional 324,654 shares during the quarter. International Assets Investment Management LLC’s holdings in Nucor were worth $49,144,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its holdings in Nucor by 2.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,909,388 shares of the basic materials company’s stock worth $617,915,000 after purchasing an additional 84,558 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Nucor by 29.7% in the second quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock valued at $456,030,000 after buying an additional 660,866 shares during the period. Legal & General Group Plc boosted its stake in Nucor by 3.2% during the second quarter. Legal & General Group Plc now owns 2,160,803 shares of the basic materials company’s stock valued at $341,580,000 after buying an additional 67,974 shares in the last quarter. Nordea Investment Management AB grew its holdings in Nucor by 6.5% during the first quarter. Nordea Investment Management AB now owns 1,165,094 shares of the basic materials company’s stock worth $230,572,000 after acquiring an additional 70,917 shares during the period. Finally, Hsbc Holdings PLC raised its position in Nucor by 11.6% in the second quarter. Hsbc Holdings PLC now owns 1,069,920 shares of the basic materials company’s stock worth $169,433,000 after acquiring an additional 111,177 shares in the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NUE shares. Argus raised shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. BMO Capital Markets decreased their price target on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 18th. Morgan Stanley cut their price objective on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. decreased their target price on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Nucor has an average rating of “Moderate Buy” and a consensus target price of $190.57.

Nucor Price Performance

NYSE NUE opened at $141.47 on Monday. The company has a 50 day simple moving average of $147.66 and a 200-day simple moving average of $158.57. Nucor Co. has a 52-week low of $133.42 and a 52-week high of $203.00. The firm has a market capitalization of $33.92 billion, a price-to-earnings ratio of 8.32 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.85.

Nucor (NYSE:NUE) last issued its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.09. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The company had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. During the same quarter last year, the business posted $4.57 EPS. The company’s revenue for the quarter was down 15.2% on a year-over-year basis. Equities research analysts predict that Nucor Co. will post 9.08 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date is Friday, September 27th. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

Insider Activity

In related news, EVP Daniel R. Needham sold 8,624 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the transaction, the executive vice president now owns 99,049 shares of the company’s stock, valued at approximately $15,847,840. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is owned by corporate insiders.

Nucor Company Profile

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.