DnB Asset Management AS decreased its holdings in shares of Nucor Co. (NYSE:NUE – Get Rating) by 10.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 58,408 shares of the basic materials company’s stock after selling 6,478 shares during the quarter. DnB Asset Management AS’s holdings in Nucor were worth $6,098,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of NUE. Riverview Trust Co bought a new position in Nucor in the 1st quarter valued at $28,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new position in shares of Nucor in the first quarter worth about $30,000. Capital Advisory Group Advisory Services LLC purchased a new position in Nucor in the 1st quarter worth about $30,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in Nucor during the 1st quarter valued at about $32,000. Finally, Riggs Asset Managment Co. Inc. purchased a new stake in Nucor in the 1st quarter valued at about $33,000. 79.07% of the stock is currently owned by hedge funds and other institutional investors.
Nucor Stock Performance
NUE stock opened at $117.08 on Monday. Nucor Co. has a one year low of $88.50 and a one year high of $187.90. The firm has a market cap of $30.65 billion, a price-to-earnings ratio of 3.59 and a beta of 1.39. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.62. The firm has a 50-day simple moving average of $130.80 and a two-hundred day simple moving average of $133.39.
Nucor Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, September 30th will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.71%. Nucor’s payout ratio is 6.14%.
Analyst Ratings Changes
A number of equities analysts have recently commented on NUE shares. Citigroup raised their target price on shares of Nucor to $145.00 in a research report on Tuesday, September 13th. StockNews.com cut Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, September 13th. Credit Suisse Group cut their price target on Nucor from $165.00 to $140.00 and set an “outperform” rating on the stock in a research note on Friday. UBS Group set a $120.00 price objective on shares of Nucor in a research note on Monday, June 20th. Finally, The Goldman Sachs Group cut their target price on shares of Nucor from $148.00 to $130.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $132.78.
Insider Buying and Selling
In other Nucor news, EVP Allen C. Behr sold 3,407 shares of the stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $122.17, for a total value of $416,233.19. Following the completion of the sale, the executive vice president now directly owns 64,087 shares in the company, valued at $7,829,508.79. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Nucor news, EVP Allen C. Behr sold 3,407 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $122.17, for a total transaction of $416,233.19. Following the sale, the executive vice president now owns 64,087 shares of the company’s stock, valued at approximately $7,829,508.79. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Kenneth Rex Query sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $141.64, for a total transaction of $708,200.00. Following the transaction, the executive vice president now owns 76,100 shares in the company, valued at approximately $10,778,804. The disclosure for this sale can be found here. 0.46% of the stock is owned by company insiders.
Nucor Company Profile
Nucor Corporation manufactures and sells steel and steel products. The company's 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 products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
- Get a free copy of the StockNews.com research report on Nucor (NUE)
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