Raiffeisen Bank International AG Has $1.29 Million Stake in Nucor Corporation (NYSE:NUE)

Raiffeisen Bank International AG lifted its holdings in shares of Nucor Corporation (NYSE:NUE) by 62.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,622 shares of the basic materials company’s stock after buying an additional 4,068 shares during the quarter. Raiffeisen Bank International AG’s holdings in Nucor were worth $1,286,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Nucor during the 4th quarter worth approximately $25,000. Putney Financial Group LLC acquired a new stake in shares of Nucor during the 4th quarter worth approximately $29,000. MV Capital Management Inc. grew its holdings in Nucor by 73.5% during the first quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 119 shares during the period. Fourth Dimension Wealth LLC acquired a new position in Nucor during the fourth quarter valued at approximately $41,000. Finally, Spirit of America Management Corp NY acquired a new position in Nucor during the first quarter valued at approximately $48,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Stock Performance

Shares of NUE stock opened at $137.10 on Tuesday. The company’s fifty day simple moving average is $131.20 and its 200-day simple moving average is $125.85. The company has a quick ratio of 1.51, a current ratio of 2.83 and a debt-to-equity ratio of 0.31. The firm has a market cap of $31.64 billion, a PE ratio of 24.75, a P/E/G ratio of 0.88 and a beta of 1.74. Nucor Corporation has a 12 month low of $97.59 and a 12 month high of $170.52.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, July 28th. The basic materials company reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.06. The business had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.47 billion. Nucor had a net margin of 4.21% and a return on equity of 6.65%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm 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 disclosed a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Monday, June 30th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, June 30th. Nucor’s payout ratio is currently 39.71%.

Insider Transactions at Nucor

In other Nucor news, EVP Daniel R. Needham sold 7,088 shares of the company’s stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $127.87, for a total transaction of $906,342.56. Following the sale, the executive vice president directly owned 99,379 shares of the company’s stock, valued at approximately $12,707,592.73. This represents a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Kenneth Rex Query sold 10,000 shares of the company’s stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $130.37, for a total transaction of $1,303,700.00. Following the sale, the executive vice president directly owned 94,080 shares in the company, valued at $12,265,209.60. This trade represents a 9.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,109 shares of company stock valued at $3,360,094 over the last 90 days. 0.46% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NUE has been the subject of a number of analyst reports. BMO Capital Markets upgraded shares of Nucor from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $140.00 to $145.00 in a report on Monday, June 2nd. UBS Group decreased their price objective on shares of Nucor from $153.00 to $147.00 and set a “buy” rating for the company in a report on Thursday, May 29th. Wall Street Zen cut shares of Nucor from a “hold” rating to a “sell” rating in a report on Wednesday, April 30th. Jefferies Financial Group upgraded shares of Nucor from a “hold” rating to a “buy” rating and boosted their price objective for the company from $135.00 to $170.00 in a report on Thursday, July 31st. Finally, Morgan Stanley boosted their price objective on shares of Nucor from $134.00 to $149.00 and gave the company an “overweight” rating in a report on Friday, June 20th. One analyst has rated the stock with a sell rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.13.

Nucor 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.