Czech National Bank Has $7.31 Million Holdings in Nucor Corporation $NUE

Key Points

• The Czech National Bank increased its stake in Nucor Corporation by 4.6%, acquiring an additional 2,492 shares during the second quarter, bringing its total holdings to 56,403 shares valued at approximately $7.3 million.
• Nucor recently reported earnings of $2.60 per share for the last quarter, beating analysts' estimates, with a revenue of $8.46 billion despite expectations of $8.47 billion.
• The firm announced a quarterly dividend of $0.55 per share, set to be paid on November 10th, which represents an annualized yield of 1.5% based on the current payout ratio of 39.71%.

Czech National Bank raised its position in Nucor Corporation (NYSE:NUE - Free Report) by 4.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 56,403 shares of the basic materials company's stock after buying an additional 2,492 shares during the period. Czech National Bank's holdings in Nucor were worth $7,306,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Putney Financial Group LLC purchased a new stake in shares of Nucor during the 4th quarter valued at approximately $29,000. MV Capital Management Inc. grew its stake in shares of Nucor by 73.5% during the first quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company's stock worth $34,000 after purchasing an additional 119 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new position in shares of Nucor during the fourth quarter worth $41,000. Geneos Wealth Management Inc. lifted its position in Nucor by 81.8% in the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company's stock valued at $41,000 after acquiring an additional 153 shares during the last quarter. Finally, Park Square Financial Group LLC purchased a new stake in Nucor in the fourth quarter valued at $48,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on NUE shares. Bank of America upped their target price on shares of Nucor from $150.00 to $165.00 and gave the company a "buy" rating in a report on Monday, September 15th. Morgan Stanley upped their target price on shares of Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a research report on Friday, June 20th. UBS Group lowered their price target on shares of Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Jefferies Financial Group upgraded shares of Nucor from a "hold" rating to a "buy" rating and increased their price target for the company from $135.00 to $170.00 in a research report on Thursday, July 31st. Finally, Wells Fargo & Company lowered their target price on shares of Nucor from $146.00 to $140.00 and set an "equal weight" rating for the company in a research note on Thursday. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Nucor currently has an average rating of "Moderate Buy" and an average price target of $156.20.

Insider Buying and Selling at Nucor

In related news, insider Michael D. Keller sold 6,088 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $148.41, for a total transaction of $903,520.08. Following the completion of the sale, the insider directly owned 22,464 shares of the company's stock, valued at approximately $3,333,882.24. This represents a 21.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Daniel R. Needham sold 7,200 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $146.00, for a total transaction of $1,051,200.00. Following the completion of the sale, the executive vice president directly owned 92,179 shares of the company's stock, valued at approximately $13,458,134. This trade represents a 7.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,397 shares of company stock worth $6,763,814. Company insiders own 0.46% of the company's stock.

Nucor Price Performance

Shares of NYSE:NUE traded down $1.27 during trading on Friday, reaching $133.03. The company had a trading volume of 4,862,886 shares, compared to its average volume of 1,419,934. The firm's fifty day moving average is $142.95 and its 200 day moving average is $128.60. The firm has a market capitalization of $30.54 billion, a PE ratio of 24.01, a price-to-earnings-growth ratio of 0.88 and a beta of 1.76. Nucor Corporation has a twelve month low of $97.59 and a twelve month high of $170.52. 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 quarterly earnings results 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 firm's quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.68 EPS. On average, equities analysts forecast 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, November 10th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.55 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.20 annualized dividend and a dividend yield of 1.7%. Nucor's dividend payout ratio is 39.71%.

About Nucor

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.