Nucor Corporation $NUE Shares Sold by APG Asset Management N.V.

Key Points

• APG Asset Management N.V. reduced its stake in Nucor Corporation by 16.6% in Q1, holding 61,048 shares worth approximately $6.8 million after selling 12,123 shares.
• Institutional ownership of Nucor is significant, with multiple funds increasing their positions; Vanguard Group Inc. now holds nearly 29 million shares valued at over $3.4 billion.
• Nucor's stock has been upgraded by several analysts, with price targets set as high as $170, and the company reports a dividend yield of 1.5%.

APG Asset Management N.V. lowered its stake in shares of Nucor Corporation (NYSE:NUE - Free Report) by 16.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,048 shares of the basic materials company's stock after selling 12,123 shares during the quarter. APG Asset Management N.V.'s holdings in Nucor were worth $6,801,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NUE. Vanguard Group Inc. increased its position in 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 increased its position in 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. increased its position in 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 Nucor during the 1st quarter worth approximately $194,804,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Nucor by 7.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,384,590 shares of the basic materials company's stock worth $161,595,000 after purchasing an additional 96,375 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company's stock.

Insider Activity

In other news, EVP Allen C. Behr sold 8,021 shares of the stock in a transaction that occurred 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 transaction, the executive vice president directly owned 82,703 shares in the company, valued at approximately $11,857,956.14. This represents a 8.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Daniel R. Needham sold 7,200 shares of the stock in a transaction that occurred on 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 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 three months, insiders sold 42,309 shares of company stock worth $5,860,294. 0.71% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on NUE. JPMorgan Chase & Co. increased their target price on shares of Nucor from $143.00 to $162.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Jefferies Financial Group raised shares of Nucor from a "hold" rating to a "buy" rating and increased their target price for the stock from $135.00 to $170.00 in a research report on Thursday, July 31st. UBS Group dropped their target price on shares of Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. BMO Capital Markets raised shares of Nucor from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $140.00 to $145.00 in a research report on Monday, June 2nd. Finally, Morgan Stanley upped 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. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $155.78.

Nucor Stock Performance

Nucor stock opened at $149.55 on Tuesday. The stock has a market cap of $34.33 billion, a P/E ratio of 26.99, a price-to-earnings-growth ratio of 0.94 and a beta of 1.74. 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 stock has a 50 day moving average of $138.74 and a 200-day moving average of $127.51. Nucor Corporation has a 52 week low of $97.59 and a 52 week high of $170.52.

Nucor (NYSE:NUE - Get Free Report) last released 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 company had revenue of $8.46 billion during the quarter, compared to analysts' expectations of $8.47 billion. Nucor had a return on equity of 6.65% and a net margin of 4.21%.The business's revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.68 EPS. On average, analysts expect that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, June 30th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Monday, June 30th. 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.

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