Nucor Corporation $NUE Shares Sold by AEGON ASSET MANAGEMENT UK Plc

Key Points

• AEGON ASSET MANAGEMENT UK Plc drastically reduced its stake in Nucor Corporation by 99.0% during the second quarter, leaving it with just 1,446 shares valued at $187,000.
• Despite this reduction, several other institutional investors, such as Robeco Institutional Asset Management B.V., significantly increased their positions in Nucor, with a 138.5% growth in the second quarter.
• Nucor declared a quarterly dividend of $0.55 per share, which results in an annualized dividend of $2.20 and a dividend yield of 1.6%.

AEGON ASSET MANAGEMENT UK Plc lowered its holdings in Nucor Corporation (NYSE:NUE - Free Report) by 99.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,446 shares of the basic materials company's stock after selling 147,727 shares during the period. AEGON ASSET MANAGEMENT UK Plc's holdings in Nucor were worth $187,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in NUE. Mirae Asset Global Investments Co. Ltd. grew its holdings in Nucor by 17.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,595 shares of the basic materials company's stock valued at $3,853,000 after purchasing an additional 4,763 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Nucor by 21.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 101,459 shares of the basic materials company's stock valued at $12,210,000 after purchasing an additional 17,861 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Nucor by 138.5% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 121,543 shares of the basic materials company's stock valued at $15,745,000 after purchasing an additional 70,581 shares in the last quarter. Hudson Capital Management LLC grew its holdings in Nucor by 6.6% during the 2nd quarter. Hudson Capital Management LLC now owns 34,784 shares of the basic materials company's stock valued at $4,506,000 after purchasing an additional 2,154 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Nucor by 12.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 305,006 shares of the basic materials company's stock valued at $36,704,000 after purchasing an additional 33,700 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company's stock.

Analyst Ratings Changes

NUE has been the subject of a number of recent analyst reports. The Goldman Sachs Group lowered their price target on shares of Nucor from $182.00 to $173.00 and set a "buy" rating for the company in a report on Monday, September 22nd. Wells Fargo & Company lowered their price target on shares of Nucor from $146.00 to $140.00 and set an "equal weight" rating for the company in a report on Thursday, September 18th. Morgan Stanley increased their price objective on shares of Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a research note on Friday, June 20th. Weiss Ratings reiterated a "hold (c)" rating on shares of Nucor in a research note on Wednesday, October 8th. Finally, Bank of America increased their price objective on shares of Nucor from $150.00 to $165.00 and gave the company a "buy" rating in a research note on Monday, September 15th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $157.60.

Insider Buying and Selling at Nucor

In other news, EVP Daniel R. Needham sold 7,200 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $146.00, for a total value of $1,051,200.00. Following the transaction, the executive vice president directly owned 92,179 shares in the company, valued at approximately $13,458,134. This trade represents a 7.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael D. Keller sold 6,088 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $148.41, for a total transaction of $903,520.08. Following the completion of the transaction, the insider owned 22,464 shares in the company, valued at approximately $3,333,882.24. The trade was a 21.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,309 shares of company stock valued at $4,553,771. Corporate insiders own 0.46% of the company's stock.

Nucor Trading Down 1.3%

Nucor stock opened at $136.72 on Thursday. The firm's 50-day moving average is $141.18 and its 200-day moving average is $129.55. 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 1 year low of $97.59 and a 1 year high of $170.52. The company has a market cap of $31.38 billion, a P/E ratio of 24.68, a PEG ratio of 0.97 and a beta of 1.75.

Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings results 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. Nucor had a net margin of 4.21% and a return on equity of 6.65%. The company had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.47 billion. During the same period last year, the firm posted $2.68 EPS. The company's revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities analysts expect that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Dividend Announcement

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 given a $0.55 dividend. 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 presently 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.

Want to see what other hedge funds are holding NUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nucor Corporation (NYSE:NUE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.