Intech Investment Management LLC Has $3.12 Million Stock Position in Nucor Corporation $NUE

Key Points

• Intech Investment Management LLC decreased its stake in Nucor Corporation by 36.9% in the first quarter, now holding shares valued at approximately $3.12 million.
• Major institutional investors, including Vanguard Group Inc. and Price T Rowe Associates Inc., increased their holdings in Nucor, indicating strong interest from large firms.
• Nucor announced a quarterly dividend of $0.55 per share, with a dividend payout ratio of 39.71% and an annual dividend yield of 1.6%.

Intech Investment Management LLC reduced its stake in shares of Nucor Corporation (NYSE:NUE - Free Report) by 36.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,943 shares of the basic materials company's stock after selling 15,150 shares during the quarter. Intech Investment Management LLC's holdings in Nucor were worth $3,122,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings 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 worth $3,484,965,000 after purchasing an additional 745,671 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Nucor by 18.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,309,452 shares of the basic materials company's stock worth $277,920,000 after purchasing an additional 355,364 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Nucor by 5.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,772,831 shares of the basic materials company's stock worth $213,342,000 after purchasing an additional 92,363 shares in the last quarter. Diamond Hill Capital Management Inc. acquired a new stake in shares of Nucor during the 1st quarter worth $194,804,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Nucor by 16.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,610,933 shares of the basic materials company's stock valued at $193,863,000 after buying an additional 226,343 shares in the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Allen C. Behr sold 8,021 shares of the firm's stock in a transaction dated 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kenneth Rex Query sold 10,000 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president owned 94,080 shares of the company's stock, valued at $12,265,209.60. This trade represents a 9.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,397 shares of company stock valued at $6,763,814 over the last three months. 0.46% of the stock is owned by insiders.

Nucor Price Performance

Nucor stock opened at $141.47 on Friday. The company has a current ratio of 2.83, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $32.47 billion, a PE ratio of 25.54, a P/E/G ratio of 0.91 and a beta of 1.76. Nucor Corporation has a 12 month low of $97.59 and a 12 month high of $170.52. The stock has a 50-day moving average price of $143.11 and a two-hundred day moving average price of $128.41.

Nucor (NYSE:NUE - Get Free Report) last posted its 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 firm 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%.The business'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. Analysts expect that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Tuesday, September 30th. Nucor's dividend payout ratio (DPR) is 39.71%.

Analyst Upgrades and Downgrades

NUE has been the topic of several research analyst reports. UBS Group reduced 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. Jefferies Financial Group raised Nucor from a "hold" rating to a "buy" rating and raised their price objective for the company from $135.00 to $170.00 in a research note on Thursday, July 31st. Morgan Stanley raised their price objective on Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a research note on Friday, June 20th. JPMorgan Chase & Co. raised their price objective on Nucor from $143.00 to $162.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Finally, BMO Capital Markets raised Nucor from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $140.00 to $145.00 in a research note on Monday, June 2nd. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $155.78.

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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