Nucor Corporation $NUE Shares Sold by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG reduced its stake in Nucor Corporation by 51.6% during the second quarter, now holding 10,054 shares valued at $1,302,000.
• Nucor is set to pay a quarterly dividend of $0.55 per share on November 10th, representing an annualized yield of 1.6% with a dividend payout ratio of 39.71%.
• Recent analyst reports show price targets for Nucor have been raised, with JPMorgan increasing its target to $162.00 and Bank of America to $165.00, indicating a generally positive outlook on the stock.

J. Safra Sarasin Holding AG lowered its position in shares of Nucor Corporation (NYSE:NUE - Free Report) by 51.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,054 shares of the basic materials company's stock after selling 10,710 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Nucor were worth $1,302,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NUE. NBC Securities Inc. raised its stake in Nucor by 132,300.0% during the first quarter. NBC Securities Inc. now owns 1,324 shares of the basic materials company's stock valued at $159,000 after buying an additional 1,323 shares in the last quarter. RFG Advisory LLC raised its position in shares of Nucor by 6.7% during the 1st quarter. RFG Advisory LLC now owns 2,393 shares of the basic materials company's stock worth $288,000 after purchasing an additional 150 shares during the period. Diligent Investors LLC raised its position in shares of Nucor by 4.6% during the 1st quarter. Diligent Investors LLC now owns 2,296 shares of the basic materials company's stock worth $276,000 after purchasing an additional 102 shares during the period. Ullmann Wealth Partners Group LLC raised its position in shares of Nucor by 2.3% during the 1st quarter. Ullmann Wealth Partners Group LLC now owns 5,668 shares of the basic materials company's stock worth $682,000 after purchasing an additional 125 shares during the period. Finally, Generali Investments Management Co LLC acquired a new stake in shares of Nucor during the 1st quarter worth approximately $214,000. Institutional investors and hedge funds own 76.48% of the company's stock.

Nucor Stock Performance

Shares of NUE stock opened at $137.98 on Friday. Nucor Corporation has a 12-month low of $97.59 and a 12-month high of $170.52. The firm has a market capitalization of $31.67 billion, a price-to-earnings ratio of 24.91, a price-to-earnings-growth ratio of 0.96 and a beta of 1.75. The business has a 50 day simple moving average of $141.84 and a 200 day simple moving average of $129.01. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.83 and a quick ratio of 1.51.

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

Nucor Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Nucor from $143.00 to $162.00 and gave the stock an "overweight" rating in a research 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 research report on Friday, June 20th. Wells Fargo & Company dropped their price target on Nucor from $146.00 to $140.00 and set an "equal weight" rating on the stock in a research report on Thursday, September 18th. Bank of America increased their price target on Nucor from $150.00 to $165.00 and gave the stock a "buy" rating in a research report on Monday, September 15th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Nucor in a research report on Saturday, September 27th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $156.60.

Insider Transactions at Nucor

In other Nucor news, EVP Daniel R. Needham sold 7,200 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $146.00, for a total transaction of $1,051,200.00. Following the completion of the transaction, the executive vice president directly owned 92,179 shares of the company's stock, valued at approximately $13,458,134. This trade represents a 7.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Allen C. Behr sold 8,021 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $143.38, for a total value of $1,150,050.98. Following the transaction, the executive vice president directly owned 82,703 shares of the company's stock, valued at approximately $11,857,956.14. The trade was a 8.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,309 shares of company stock valued at $4,553,771. Company insiders own 0.46% of the company's stock.

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.

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