Fjarde AP Fonden Fourth Swedish National Pension Fund Has $3.83 Million Stake in Nucor Corporation (NYSE:NUE)

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund has reduced its stake in Nucor Corporation by 9.4%, now holding 31,786 shares worth approximately $3.83 million.
• Several hedge funds have varied their investments in Nucor, with First Trust Advisors LP increasing its stake by 24.6%, now owning over 2.4 million shares valued at $280.6 million.
• Nucor recently declared a quarterly dividend of $0.55, reflecting an annual yield of 1.5%, with a dividend payout ratio of 39.71%.

Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its stake in Nucor Corporation (NYSE:NUE - Free Report) by 9.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,786 shares of the basic materials company's stock after selling 3,300 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Nucor were worth $3,825,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in NUE. Townsquare Capital LLC lifted its stake in Nucor by 15.9% in the fourth quarter. Townsquare Capital LLC now owns 5,359 shares of the basic materials company's stock valued at $625,000 after buying an additional 737 shares during the period. NewEdge Advisors LLC lifted its stake in Nucor by 1.0% in the fourth quarter. NewEdge Advisors LLC now owns 13,655 shares of the basic materials company's stock valued at $1,594,000 after buying an additional 135 shares during the period. Capital International Investors lifted its stake in Nucor by 5.7% in the fourth quarter. Capital International Investors now owns 5,961 shares of the basic materials company's stock valued at $696,000 after buying an additional 323 shares during the period. Forum Financial Management LP lifted its stake in Nucor by 6.6% in the fourth quarter. Forum Financial Management LP now owns 4,382 shares of the basic materials company's stock valued at $511,000 after buying an additional 271 shares during the period. Finally, First Trust Advisors LP increased its holdings in shares of Nucor by 24.6% in the fourth quarter. First Trust Advisors LP now owns 2,404,477 shares of the basic materials company's stock worth $280,627,000 after acquiring an additional 474,274 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company's stock.

Nucor Stock Up 0.8%

NYSE:NUE opened at $145.49 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 2.83. The company has a market cap of $33.40 billion, a PE ratio of 26.26, a PEG ratio of 0.92 and a beta of 1.74. Nucor Corporation has a 52-week low of $97.59 and a 52-week high of $170.52. The stock has a 50-day simple moving average of $135.77 and a 200 day simple moving average of $126.92.

Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The basic materials company reported $2.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 6.65% and a net margin of 4.21%. Nucor's quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the company earned $2.68 earnings per share. On average, sell-side analysts expect that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, June 30th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Monday, June 30th. Nucor's dividend payout ratio (DPR) is currently 39.71%.

Analyst Upgrades and Downgrades

NUE has been the subject of several recent analyst reports. UBS Group lowered their price target on Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Wall Street Zen downgraded Nucor from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. increased their price target on Nucor from $143.00 to $162.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Morgan Stanley increased their price target on Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. Finally, Wells Fargo & Company upgraded Nucor to a "hold" rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Nucor presently has a consensus rating of "Moderate Buy" and an average target price of $155.78.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Allen C. Behr sold 8,021 shares of the firm's 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 transaction, the executive vice president directly owned 82,703 shares in the company, valued at $11,857,956.14. This trade represents a 8.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Daniel R. Needham sold 7,088 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $127.87, for a total value of $906,342.56. Following the completion of the transaction, the executive vice president owned 99,379 shares of the company's stock, valued at approximately $12,707,592.73. This represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,109 shares of company stock worth $3,360,094 over the last ninety days. 0.46% of the stock is currently owned by corporate insiders.

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.

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