Nucor Co. (NYSE:NUE) Shares Bought by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ boosted its stake in Nucor Co. (NYSE:NUE) by 3.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 534,393 shares of the basic materials company’s stock after purchasing an additional 17,523 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned about 0.22% of Nucor worth $84,477,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. CX Institutional grew its stake in shares of Nucor by 52.8% during the 2nd quarter. CX Institutional now owns 17,245 shares of the basic materials company’s stock valued at $2,726,000 after buying an additional 5,960 shares during the period. Newbridge Financial Services Group Inc. raised its holdings in shares of Nucor by 94.2% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,855 shares of the basic materials company’s stock worth $323,000 after purchasing an additional 900 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in shares of Nucor by 6.1% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 262,385 shares of the basic materials company’s stock worth $45,665,000 after purchasing an additional 15,058 shares during the period. Norden Group LLC acquired a new stake in Nucor during the 1st quarter worth approximately $1,847,000. Finally, Banco Santander S.A. raised its holdings in Nucor by 86.2% in the first quarter. Banco Santander S.A. now owns 12,895 shares of the basic materials company’s stock valued at $2,552,000 after buying an additional 5,971 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Trading Up 4.2 %

NYSE NUE opened at $148.98 on Friday. The company’s fifty day moving average price is $149.95 and its two-hundred day moving average price is $166.43. The company has a market capitalization of $35.72 billion, a price-to-earnings ratio of 8.76 and a beta of 1.55. Nucor Co. has a 12 month low of $133.42 and a 12 month high of $203.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85.

Nucor (NYSE:NUE) last issued its earnings results on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, topping the consensus estimate of $2.31 by $0.37. The company had revenue of $8.08 billion during the quarter, compared to analyst estimates of $7.69 billion. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The business’s revenue was down 15.2% on a year-over-year basis. During the same quarter last year, the firm earned $5.81 EPS. As a group, research analysts predict that Nucor Co. will post 9.95 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently disclosed 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 1.45%. Nucor’s dividend payout ratio is presently 12.71%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Bank of America dropped their price objective on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. BMO Capital Markets lowered their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday. Argus upgraded Nucor to a “strong-buy” rating in a report on Monday, August 26th. JPMorgan Chase & Co. upgraded shares of Nucor from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $170.00 to $174.00 in a research note on Monday, September 9th. Finally, Morgan Stanley decreased their target price on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $192.00.

Insider Activity at Nucor

In other news, EVP Daniel R. Needham sold 8,624 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 99,049 shares of the company’s stock, valued at approximately $15,847,840. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.46% of the company’s stock.

Nucor Company 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.