Forsta AP Fonden Decreases Stock Position in Nucor Corporation (NYSE:NUE)

Key Points

• Forsta AP Fonden reduced its stake in Nucor Corporation by 51.8% in the first quarter, holding 44,100 shares worth approximately $5.3 million at the end of the reporting period.
• Several institutional investors have recently adjusted their positions in Nucor, with 76.48% of the stock now held by institutional investors and hedge funds.
• Nucor announced a quarterly dividend of $0.55 to be paid on August 11th, representing a 1.6% yield and a 39.71% dividend payout ratio.

Forsta AP Fonden lessened its stake in shares of Nucor Corporation (NYSE:NUE - Free Report) by 51.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,100 shares of the basic materials company's stock after selling 47,300 shares during the quarter. Forsta AP Fonden's holdings in Nucor were worth $5,307,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in NUE. Raymond James Financial Inc. purchased a new position in shares of Nucor in the fourth quarter worth approximately $38,714,000. Bessemer Group Inc. boosted its holdings in shares of Nucor by 0.6% in the fourth quarter. Bessemer Group Inc. now owns 21,279 shares of the basic materials company's stock worth $2,484,000 after buying an additional 127 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in shares of Nucor by 51.8% in the fourth quarter. Sterling Capital Management LLC now owns 14,288 shares of the basic materials company's stock worth $1,668,000 after buying an additional 4,873 shares during the last quarter. Townsquare Capital LLC boosted its holdings in shares of Nucor by 15.9% in the fourth quarter. Townsquare Capital LLC now owns 5,359 shares of the basic materials company's stock worth $625,000 after buying an additional 737 shares during the last quarter. Finally, Stamos Capital Partners L.P. boosted its holdings in shares of Nucor by 144.7% in the fourth quarter. Stamos Capital Partners L.P. now owns 6,460 shares of the basic materials company's stock worth $754,000 after buying an additional 3,820 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company's stock.

Insider Buying and Selling

In related news, 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 value of $906,342.56. Following the sale, the executive vice president owned 99,379 shares in the company, valued at approximately $12,707,592.73. The trade was a 6.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Allen C. Behr sold 8,021 shares of the business's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $143.38, for a total transaction of $1,150,050.98. Following the completion of the sale, the executive vice president owned 82,703 shares in the company, valued at $11,857,956.14. This represents a 8.84% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,109 shares of company stock worth $3,360,094. Insiders own 0.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on NUE shares. Wells Fargo & Company initiated coverage on shares of Nucor in a report on Wednesday. They issued a "negative" rating on the stock. Jefferies Financial Group upgraded shares of Nucor from a "hold" rating to a "buy" rating and raised their target price for the stock from $135.00 to $170.00 in a research note on Thursday, July 31st. BMO Capital Markets upgraded shares of Nucor from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $140.00 to $145.00 in a research note on Monday, June 2nd. UBS Group decreased their target price on shares of Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. Finally, Wall Street Zen cut shares of Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Nucor currently has an average rating of "Moderate Buy" and a consensus target price of $157.13.

Nucor Price Performance

Shares of Nucor stock traded up $4.48 on Wednesday, hitting $145.91. 1,342,197 shares of the company traded hands, compared to its average volume of 2,498,537. The stock has a market capitalization of $33.67 billion, a P/E ratio of 26.34, a price-to-earnings-growth ratio of 0.88 and a beta of 1.74. 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 Corporation has a 52 week low of $97.59 and a 52 week high of $170.52. The business has a 50-day simple moving average of $134.78 and a 200 day simple moving average of $126.63.

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

Nucor Dividend Announcement

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

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.