Victory Capital Management Inc. Has $77.56 Million Stock Holdings in Nucor Co. (NYSE:NUE)

Victory Capital Management Inc. grew its stake in shares of Nucor Co. (NYSE:NUE) by 6.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 445,625 shares of the basic materials company’s stock after buying an additional 27,509 shares during the period. Victory Capital Management Inc.’s holdings in Nucor were worth $77,557,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NUE. SVB Wealth LLC lifted its position in Nucor by 1.5% in the 4th quarter. SVB Wealth LLC now owns 3,656 shares of the basic materials company’s stock worth $636,000 after buying an additional 54 shares in the last quarter. Kestra Private Wealth Services LLC grew its holdings in Nucor by 0.8% in the 4th quarter. Kestra Private Wealth Services LLC now owns 7,191 shares of the basic materials company’s stock valued at $1,252,000 after buying an additional 55 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC raised its holdings in Nucor by 36.6% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 220 shares of the basic materials company’s stock worth $38,000 after buying an additional 59 shares during the period. Center for Financial Planning Inc. raised its position in Nucor by 7.9% in the 4th quarter. Center for Financial Planning Inc. now owns 822 shares of the basic materials company’s stock valued at $143,000 after buying an additional 60 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC raised its holdings in shares of Nucor by 1.7% in the third quarter. Dorsey & Whitney Trust CO LLC now owns 4,168 shares of the basic materials company’s stock valued at $652,000 after purchasing an additional 68 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors.

Nucor Stock Up 2.0 %

NUE stock opened at $173.92 on Friday. The company has a 50 day moving average of $189.47 and a two-hundred day moving average of $174.86. The company has a market cap of $41.74 billion, a price-to-earnings ratio of 10.23 and a beta of 1.65. The company has a quick ratio of 2.48, a current ratio of 4.02 and a debt-to-equity ratio of 0.31. Nucor Co. has a 12-month low of $129.79 and a 12-month high of $203.00.

Nucor (NYSE:NUE) last issued its earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). The business had revenue of $8.14 billion during the quarter, compared to analyst estimates of $8.26 billion. Nucor had a net margin of 12.40% and a return on equity of 19.62%. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the prior year, the business posted $4.45 EPS. On average, equities analysts anticipate that Nucor Co. will post 12.55 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Wednesday, March 27th. Nucor’s dividend payout ratio is presently 12.71%.

Insiders Place Their Bets

In other news, EVP Allen C. Behr sold 10,000 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total value of $1,901,900.00. Following the sale, the executive vice president now directly owns 80,902 shares in the company, valued at approximately $15,386,751.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Nucor news, insider Michael D. Keller sold 3,145 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the sale, the insider now owns 24,873 shares in the company, valued at $4,817,153.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Allen C. Behr sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total value of $1,901,900.00. Following the completion of the sale, the executive vice president now owns 80,902 shares in the company, valued at $15,386,751.38. The disclosure for this sale can be found here. Insiders have sold a total of 32,651 shares of company stock worth $6,283,648 in the last three months. Corporate insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on NUE. BMO Capital Markets cut their price target on Nucor from $210.00 to $200.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 24th. Citigroup raised shares of Nucor from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $180.00 to $240.00 in a research note on Wednesday, March 13th. UBS Group assumed coverage on Nucor in a research report on Tuesday, January 16th. They set a “buy” rating and a $210.00 target price for the company. JPMorgan Chase & Co. reduced their price target on shares of Nucor from $195.00 to $190.00 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. Finally, StockNews.com lowered Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $193.14.

About Nucor

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.