Swedbank AB Increases Stock Holdings in Nucor Corporation $NUE

Swedbank AB grew its stake in shares of Nucor Corporation (NYSE:NUE) by 6.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 255,621 shares of the basic materials company’s stock after buying an additional 15,313 shares during the period. Swedbank AB owned 0.11% of Nucor worth $33,113,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Nucor by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 28,959,327 shares of the basic materials company’s stock valued at $3,484,965,000 after buying an additional 745,671 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Nucor by 18.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,309,452 shares of the basic materials company’s stock worth $277,920,000 after acquiring an additional 355,364 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Nucor by 5.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,772,831 shares of the basic materials company’s stock valued at $213,342,000 after purchasing an additional 92,363 shares during the last quarter. Diamond Hill Capital Management Inc. bought a new position in shares of Nucor during the 1st quarter valued at approximately $194,804,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Nucor by 16.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,610,933 shares of the basic materials company’s stock valued at $193,863,000 after purchasing an additional 226,343 shares during the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Bank of America boosted their price objective on Nucor from $150.00 to $165.00 and gave the company a “buy” rating in a report on Monday, September 15th. Wells Fargo & Company lowered their target price on Nucor from $146.00 to $140.00 and set an “equal weight” rating for the company in a report on Thursday. Jefferies Financial Group raised Nucor from a “hold” rating to a “buy” rating and boosted their price target for the stock from $135.00 to $170.00 in a research report on Thursday, July 31st. Morgan Stanley upped their target price on Nucor from $134.00 to $149.00 and gave the company an “overweight” rating in a research report on Friday, June 20th. Finally, UBS Group cut their price objective on Nucor from $153.00 to $147.00 and set a “buy” rating on the stock in a report on Thursday, May 29th. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Nucor presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.20.

Nucor Price Performance

NYSE:NUE opened at $133.03 on Friday. The stock has a 50 day moving average price of $142.95 and a 200 day moving average price of $128.63. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 2.83. The stock has a market cap of $30.54 billion, a PE ratio of 24.01, a P/E/G ratio of 0.89 and a beta of 1.76. Nucor Corporation has a one year low of $97.59 and a one year high of $170.52.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, July 28th. The basic materials company reported $2.60 EPS for the quarter, topping the consensus estimate of $2.54 by $0.06. The business had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.47 billion. Nucor had a return on equity of 6.65% and a net margin of 4.21%.The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the business posted $2.68 earnings per share. Equities research analysts expect that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 30th. Nucor’s payout ratio is 39.71%.

Insiders Place Their Bets

In related news, EVP Daniel R. Needham sold 7,200 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $146.00, for a total value of $1,051,200.00. Following the transaction, the executive vice president owned 92,179 shares in the company, valued at $13,458,134. The trade was a 7.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Kenneth Rex Query sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $144.90, for a total value of $1,449,000.00. Following the transaction, the executive vice president owned 84,080 shares in the company, valued at $12,183,192. The trade was a 10.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,397 shares of company stock valued at $6,763,814 over the last quarter. Corporate insiders own 0.46% of the company’s stock.

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.