ASR Vermogensbeheer N.V. Acquires New Stake in Nucor Corporation (NYSE:NUE)

Key Points

• ASR Vermogensbeheer N.V. acquired 47,933 shares of Nucor Corporation (NYSE:NUE) valued at approximately $5,768,000 in the first quarter.
• Nucor reported quarterly earnings of $2.60 EPS, exceeding analysts' expectations, and had a year-over-year revenue increase of 4.7%.
• The company declared a quarterly dividend of $0.55, with an annualized yield of 1.6%, to be paid on August 11th.

ASR Vermogensbeheer N.V. acquired a new stake in shares of Nucor Corporation (NYSE:NUE - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund acquired 47,933 shares of the basic materials company's stock, valued at approximately $5,768,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Nucor by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 28,959,327 shares of the basic materials company's stock valued at $3,484,965,000 after purchasing an additional 745,671 shares during the period. Invesco Ltd. raised its stake in shares of Nucor by 18.7% during the 4th quarter. Invesco Ltd. now owns 2,435,265 shares of the basic materials company's stock valued at $284,220,000 after purchasing an additional 384,205 shares during the period. First Trust Advisors LP raised its stake in shares of Nucor by 24.6% during the 4th quarter. First Trust Advisors LP now owns 2,404,477 shares of the basic materials company's stock valued at $280,627,000 after purchasing an additional 474,274 shares during the period. Diamond Hill Capital Management Inc. bought a new stake in shares of Nucor during the 1st quarter valued at $194,804,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Nucor by 7.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,384,590 shares of the basic materials company's stock valued at $161,595,000 after purchasing an additional 96,375 shares during the period. 76.48% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Nucor news, EVP Allen C. Behr sold 8,021 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $143.38, for a total value of $1,150,050.98. Following the completion of the sale, the executive vice president owned 82,703 shares in the company, valued at approximately $11,857,956.14. This trade represents a 8.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kenneth Rex Query sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $130.37, for a total value of $1,303,700.00. Following the completion of the sale, the executive vice president owned 94,080 shares of the company's stock, valued at approximately $12,265,209.60. This trade represents a 9.61% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,109 shares of company stock worth $3,360,094. 0.46% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NUE shares. UBS Group decreased their price objective on Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. Morgan Stanley raised 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. BMO Capital Markets raised Nucor from a "market perform" rating to an "outperform" rating and raised their price target for the company from $140.00 to $145.00 in a report on Monday, June 2nd. Jefferies Financial Group raised shares of Nucor from a "hold" rating to a "buy" rating and boosted their price target for the stock from $135.00 to $170.00 in a research note on Thursday, July 31st. Finally, Wall Street Zen cut shares of Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $157.13.

Nucor Trading Up 1.0%

NUE stock traded up $1.32 during trading on Friday, hitting $139.11. 1,066,756 shares of the company traded hands, compared to its average volume of 1,747,630. The firm has a market capitalization of $32.10 billion, a PE ratio of 25.11, a P/E/G ratio of 0.88 and a beta of 1.74. Nucor Corporation has a 1 year low of $97.59 and a 1 year high of $170.52. The company has a 50-day moving average of $133.57 and a 200-day moving average of $126.22. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 2.83.

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

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Monday, June 30th will be issued a $0.55 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.20 annualized dividend and a yield of 1.6%. Nucor's dividend payout ratio (DPR) is 39.71%.

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.