Nucor Corporation $NUE Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. decreased its position in shares of Nucor Corporation (NYSE:NUE) by 1.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,286 shares of the basic materials company’s stock after selling 1,095 shares during the quarter. QRG Capital Management Inc.’s holdings in Nucor were worth $8,198,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NUE. Vanguard Group Inc. increased its holdings 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 worth $3,484,965,000 after buying an additional 745,671 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Nucor by 18.2% in 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 during the period. Charles Schwab Investment Management Inc. increased its stake 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 during the last quarter. Diamond Hill Capital Management Inc. purchased a new stake in Nucor in the first quarter valued at $194,804,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Nucor by 16.3% in 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 currently owned by institutional investors and hedge funds.

Nucor Stock Performance

Shares of Nucor stock opened at $137.98 on Monday. The business has a 50-day simple moving average of $141.84 and a 200-day simple moving average of $128.99. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 2.83. Nucor Corporation has a one year low of $97.59 and a one year high of $170.52. The company has a market cap of $31.67 billion, a PE ratio of 24.91, a P/E/G ratio of 0.95 and a beta of 1.75.

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

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 30th. Nucor’s dividend payout ratio is 39.71%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NUE. Wells Fargo & Company reduced their price objective on shares of Nucor from $146.00 to $140.00 and set an “equal weight” rating on the stock in a report on Thursday, September 18th. JPMorgan Chase & Co. upped their price objective on shares of Nucor from $143.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, July 14th. Morgan Stanley upped their price target on Nucor from $134.00 to $149.00 and gave the stock an “overweight” rating in a research note on Friday, June 20th. The Goldman Sachs Group dropped their price objective on Nucor from $182.00 to $173.00 and set a “buy” rating for the company in a research note on Monday, September 22nd. Finally, Bank of America increased their target price on Nucor from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, September 15th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Nucor presently has a consensus rating of “Moderate Buy” and an average target price of $156.60.

Insiders Place Their Bets

In related news, 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 transaction of $903,520.08. Following the completion of the sale, the insider owned 22,464 shares in the company, valued at $3,333,882.24. The trade was a 21.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Allen C. Behr sold 8,021 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $143.38, for a total value of $1,150,050.98. Following the completion of the transaction, the executive vice president directly owned 82,703 shares of the company’s stock, valued at $11,857,956.14. This trade represents a 8.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,309 shares of company stock valued at $4,553,771 in the last three months. Corporate insiders own 0.46% of the company’s stock.

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.