Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in Nucor Corporation (NYSE:NUE – Free Report) by 11.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 135,065 shares of the basic materials company’s stock after buying an additional 14,106 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.06% of Nucor worth $17,496,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. MTM Investment Management LLC bought a new stake in shares of Nucor during the 2nd quarter valued at $116,000. Rockefeller Capital Management L.P. lifted its position in Nucor by 113.6% during the second quarter. Rockefeller Capital Management L.P. now owns 55,703 shares of the basic materials company’s stock worth $7,216,000 after purchasing an additional 29,625 shares during the period. Citizens Financial Group Inc. RI grew its stake in Nucor by 7.1% during the second quarter. Citizens Financial Group Inc. RI now owns 5,131 shares of the basic materials company’s stock worth $665,000 after buying an additional 338 shares in the last quarter. Intech Investment Management LLC increased its holdings in Nucor by 266.7% in the 2nd quarter. Intech Investment Management LLC now owns 95,121 shares of the basic materials company’s stock valued at $12,322,000 after buying an additional 69,178 shares during the period. Finally, Cetera Investment Advisers raised its position in shares of Nucor by 12.3% in the 2nd quarter. Cetera Investment Advisers now owns 132,577 shares of the basic materials company’s stock valued at $17,174,000 after buying an additional 14,558 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.
Nucor Stock Down 0.1%
Shares of NYSE:NUE opened at $148.55 on Wednesday. The company has a fifty day moving average of $140.70 and a 200-day moving average of $135.17. The company has a market capitalization of $34.00 billion, a PE ratio of 20.86, a price-to-earnings-growth ratio of 1.14 and a beta of 1.80. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.51 and a current ratio of 2.77. Nucor Corporation has a 52-week low of $97.59 and a 52-week high of $158.48.
Nucor Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Tuesday, September 30th. Nucor’s payout ratio is 30.90%.
Insider Transactions at Nucor
In other Nucor news, EVP Allen C. Behr sold 9,042 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $151.28, for a total transaction of $1,367,873.76. Following the sale, the executive vice president directly owned 73,661 shares of the company’s stock, valued at $11,143,436.08. The trade was a 10.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael D. Keller sold 6,088 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $148.41, for a total transaction of $903,520.08. Following the completion of the transaction, the insider owned 22,464 shares of the company’s stock, valued at approximately $3,333,882.24. This trade represents a 21.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 24,133 shares of company stock worth $3,624,149. 0.46% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Several analysts recently issued reports on the stock. Jefferies Financial Group upgraded shares of Nucor from a “hold” rating to a “buy” rating and increased their price target for the stock from $135.00 to $170.00 in a research report on Thursday, July 31st. Bank of America upped 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. JPMorgan Chase & Co. lifted their price target on Nucor from $172.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Wall Street Zen raised Nucor from a “hold” rating to a “buy” rating in a report on Monday. Finally, UBS Group raised their price objective on Nucor from $165.00 to $168.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $167.20.
Get Our Latest Stock Report on NUE
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.
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