27,085 Shares in Nucor Corporation (NYSE:NUE) Bought by Banque Cantonale Vaudoise

Key Points

• Banque Cantonale Vaudoise has acquired 27,085 shares of Nucor Corporation, valued at approximately $3.26 million, as part of their new investment strategy.
• Insiders at Nucor, including CEO Leon J. Topalian, have recently sold a total of 51,326 shares worth approximately $6.3 million, indicating a notable decrease in their holdings.
• Nucor's stock has experienced a target price change from several analysts, with JPMorgan Chase increasing its price target to $162 and UBS lowering theirs to $147, reflecting diverse market sentiments.

Banque Cantonale Vaudoise acquired a new position in Nucor Corporation (NYSE:NUE - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 27,085 shares of the basic materials company's stock, valued at approximately $3,260,000.

Other hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Nucor by 17.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,595 shares of the basic materials company's stock worth $3,853,000 after acquiring an additional 4,763 shares in the last quarter. Voya Investment Management LLC boosted its holdings in shares of Nucor by 528.6% in the fourth quarter. Voya Investment Management LLC now owns 507,715 shares of the basic materials company's stock worth $59,235,000 after buying an additional 426,949 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Nucor by 21.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 101,459 shares of the basic materials company's stock worth $12,210,000 after purchasing an additional 17,861 shares during the period. Assenagon Asset Management S.A. raised its position in Nucor by 20.5% during the first quarter. Assenagon Asset Management S.A. now owns 28,886 shares of the basic materials company's stock valued at $3,476,000 after buying an additional 4,914 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in shares of Nucor by 12.4% in the first quarter. Envestnet Asset Management Inc. now owns 305,006 shares of the basic materials company's stock worth $36,704,000 after purchasing an additional 33,700 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors.

Nucor Stock Performance

Shares of NUE traded up $2.36 during midday trading on Wednesday, reaching $143.00. The stock had a trading volume of 2,663,715 shares, compared to its average volume of 1,672,357. The firm has a market cap of $33.00 billion, a PE ratio of 25.81, a P/E/G ratio of 0.90 and a beta of 1.70. The firm has a 50 day simple moving average of $128.74 and a 200-day simple moving average of $125.35. Nucor Corporation has a one year low of $97.59 and a one year high of $170.52. The company has a current ratio of 2.83, a quick ratio of 1.48 and a debt-to-equity ratio of 0.31.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The basic materials company reported $2.60 EPS for the quarter, beating the consensus estimate of $2.54 by $0.06. The business had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.47 billion. Nucor had a net margin of 4.21% and a return on equity of 6.65%. The company's revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.68 earnings per share. As a group, sell-side analysts anticipate that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Monday, June 30th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Monday, June 30th. Nucor's dividend payout ratio (DPR) is currently 39.71%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on NUE shares. BMO Capital Markets upgraded shares of Nucor from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $140.00 to $145.00 in a report on Monday, June 2nd. The Goldman Sachs Group dropped their price objective on Nucor from $175.00 to $169.00 and set a "buy" rating on the stock in a report on Monday, April 7th. UBS Group reduced their target price on shares of Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Wall Street Zen downgraded Nucor from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. Finally, Morgan Stanley lifted their price target on Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a report on Friday, June 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $152.75.

Insider Activity

In related news, CEO Leon J. Topalian sold 34,238 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $120.19, for a total transaction of $4,115,065.22. Following the sale, the chief executive officer owned 162,993 shares in the company, valued at $19,590,128.67. This represents a 17.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel R. Needham sold 7,088 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $127.87, for a total transaction of $906,342.56. Following the transaction, the executive vice president owned 99,379 shares in the company, valued at $12,707,592.73. The trade was a 6.66% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,326 shares of company stock valued at $6,325,108. Insiders own 0.46% of the company's stock.

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.