Nucor Co. (NYSE:NUE) Shares Bought by Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group

Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group lifted its holdings in shares of Nucor Co. (NYSE:NUE) by 2.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,511 shares of the basic materials company’s stock after buying an additional 184 shares during the period. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group’s holdings in Nucor were worth $1,187,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in NUE. Dimensional Fund Advisors LP boosted its position in Nucor by 2.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,909,388 shares of the basic materials company’s stock worth $617,915,000 after acquiring an additional 84,558 shares during the period. Pacer Advisors Inc. grew its position in Nucor by 29.7% in the 2nd quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock valued at $456,030,000 after buying an additional 660,866 shares in the last quarter. Legal & General Group Plc increased its stake in Nucor by 3.2% during the 2nd quarter. Legal & General Group Plc now owns 2,160,803 shares of the basic materials company’s stock valued at $341,580,000 after buying an additional 67,974 shares during the period. First Trust Advisors LP raised its position in shares of Nucor by 6.7% during the 4th quarter. First Trust Advisors LP now owns 1,367,209 shares of the basic materials company’s stock worth $237,949,000 after buying an additional 85,475 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of Nucor by 6.5% in the 1st quarter. Nordea Investment Management AB now owns 1,165,094 shares of the basic materials company’s stock worth $230,572,000 after acquiring an additional 70,917 shares during the period. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total value of $1,379,840.00. Following the transaction, 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 legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NUE. Morgan Stanley lowered their price objective on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 18th. JPMorgan Chase & Co. raised 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 report on Monday, September 9th. 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 report on Wednesday, June 26th. BMO Capital Markets reduced their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research report on Wednesday, September 18th. Finally, Argus upgraded shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $192.00.

Nucor Stock Performance

Nucor stock opened at $152.71 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85. The company has a market cap of $36.61 billion, a P/E ratio of 8.98 and a beta of 1.55. Nucor Co. has a fifty-two week low of $133.42 and a fifty-two week high of $203.00. The firm’s 50 day simple moving average is $147.70 and its 200-day simple moving average is $164.17.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.37. The business had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $7.69 billion. Nucor had a return on equity of 15.69% and a net margin of 10.45%. Nucor’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.81 earnings per share. As a group, equities research analysts predict that Nucor Co. will post 9.28 EPS for the current year.

Nucor Announces Dividend

The business 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 $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Friday, September 27th. Nucor’s dividend payout ratio (DPR) is 12.71%.

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.