Swedbank AB Has $28.92 Million Holdings in Nucor Corporation $NUE

Swedbank AB increased its stake in shares of Nucor Corporation (NYSE:NUE) by 16.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 240,308 shares of the basic materials company’s stock after purchasing an additional 34,777 shares during the period. Swedbank AB’s holdings in Nucor were worth $28,919,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

NUE has been the topic of several recent analyst reports. Morgan Stanley lifted their target price on Nucor from $134.00 to $149.00 and gave the stock an “overweight” rating in a report on Friday, June 20th. JPMorgan Chase & Co. boosted their price target on Nucor from $143.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, July 14th. UBS Group cut their price target on Nucor from $153.00 to $147.00 and set a “buy” rating on the stock in a report on Thursday, May 29th. BMO Capital Markets upgraded Nucor from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $140.00 to $145.00 in a report on Monday, June 2nd. Finally, Jefferies Financial Group upgraded Nucor from a “hold” rating to a “buy” rating and boosted their price target for the company from $135.00 to $170.00 in a report on Thursday, July 31st. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $155.78.

Nucor Stock Performance

NUE opened at $141.47 on Friday. Nucor Corporation has a 52-week low of $97.59 and a 52-week high of $170.52. The firm has a market capitalization of $32.47 billion, a PE ratio of 25.54, a PEG ratio of 0.91 and a beta of 1.76. 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 business’s 50-day simple moving average is $143.11 and its 200 day simple moving average is $128.41.

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

Nucor Announces Dividend

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 given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 30th. Nucor’s payout ratio is 39.71%.

Insiders Place Their Bets

In other Nucor news, EVP Daniel R. Needham sold 7,200 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $146.00, for a total transaction of $1,051,200.00. Following the transaction, the executive vice president owned 92,179 shares of the company’s stock, valued at $13,458,134. The trade was a 7.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael D. Keller sold 6,088 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $148.41, for a total value of $903,520.08. Following the transaction, the insider directly owned 22,464 shares in the company, valued at approximately $3,333,882.24. This trade represents a 21.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,397 shares of company stock worth $6,763,814 in the last three months. 0.46% of the stock is owned by corporate insiders.

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.