Nucor Co. (NYSE:NUE) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lessened its stake in Nucor Co. (NYSE:NUE) by 11.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 117,075 shares of the basic materials company’s stock after selling 14,911 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Nucor were worth $17,891,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Rise Advisors LLC purchased a new stake in shares of Nucor in the first quarter valued at approximately $27,000. Chilton Capital Management LLC grew its stake in Nucor by 94.2% in the 1st quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 65 shares during the period. Central Pacific Bank Trust Division acquired a new stake in Nucor in the 1st quarter valued at $28,000. Tompkins Financial Corp grew its stake in Nucor by 208.0% in the 1st quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 104 shares during the period. Finally, Salomon & Ludwin LLC acquired a new stake in Nucor in the 1st quarter valued at $31,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Wall Street Analysts Forecast Growth

NUE has been the topic of a number of research analyst reports. BMO Capital Markets dropped their price target on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a research note on Monday, June 17th. Bank of America dropped their price target on shares of Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Argus raised shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Morgan Stanley raised shares of Nucor from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $187.00 to $176.00 in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. raised shares of Nucor from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $170.00 to $174.00 in a research note on Monday, September 9th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Nucor currently has an average rating of “Moderate Buy” and an average price target of $195.00.

Insider Activity at Nucor

In related news, EVP Daniel R. Needham sold 8,624 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total value of $1,379,840.00. Following the sale, the executive vice president now directly owns 99,049 shares in the company, valued at approximately $15,847,840. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.46% of the stock is owned by insiders.

Nucor Trading Up 2.1 %

Shares of NUE stock opened at $143.59 on Monday. The company’s 50-day moving average price is $150.71 and its 200-day moving average price is $167.41. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26. The stock has a market cap of $34.43 billion, a price-to-earnings ratio of 8.45 and a beta of 1.55. Nucor Co. has a twelve month low of $133.42 and a twelve month high of $203.00.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.37. The firm had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $7.69 billion. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The company’s revenue was down 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.81 EPS. As a group, equities analysts predict that Nucor Co. will post 9.95 earnings per share for the current year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.50%. Nucor’s payout ratio is 12.71%.

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.