Nucor Corporation $NUE Stock Purchased by Bank Julius Baer & Co. Ltd Zurich

Key Points

• Bank Julius Baer & Co. Ltd Zurich more than doubled its Nucor stake in the third quarter, adding 4,659 shares to hold 9,205 shares valued at about $2.16 million.
• Nucor’s quarterly revenue rose 32% year over year to $11.25 billion, topping estimates, while EPS of $5.80 narrowly missed the $5.84 consensus.
• Analysts give Nucor a consensus “Moderate Buy” rating, with an average price target of $286.44; 76.48% of the stock is held by institutional investors and hedge funds.

Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Nucor Corporation (NYSE:NUE - Free Report) by 102.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,205 shares of the basic materials company's stock after buying an additional 4,659 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich's holdings in Nucor were worth $2,162,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Transamerica Financial Advisors LLC acquired a new stake in Nucor in the second quarter worth about $25,000. Manning & Napier Advisors LLC purchased a new stake in shares of Nucor during the second quarter worth about $27,000. Bell Investment Advisors Inc acquired a new position in shares of Nucor during the second quarter valued at about $28,000. GK Wealth Management LLC acquired a new position in shares of Nucor during the third quarter valued at about $28,000. Finally, Markowski Investments purchased a new position in shares of Nucor in the 2nd quarter valued at approximately $29,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Stock Down 1.5%

Shares of NUE opened at $273.38 on Wednesday. The company has a market capitalization of $62.03 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 0.68 and a beta of 1.81. Nucor Corporation has a 52 week low of $140.93 and a 52 week high of $287.70. The stock's 50-day moving average price is $255.05 and its 200-day moving average price is $224.47. The company has a quick ratio of 1.43, a current ratio of 2.46 and a debt-to-equity ratio of 0.26.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings results on Monday, October 26th. The basic materials company reported $5.80 earnings per share for the quarter, missing the consensus estimate of $5.84 by ($0.04). Nucor had a net margin of 9.26% and a return on equity of 15.53%. The company had revenue of $11.25 billion for the quarter, compared to analysts' expectations of $10.84 billion. During the same quarter in the prior year, the business posted $2.63 earnings per share. The firm's revenue was up 32.0% compared to the same quarter last year. On average, sell-side analysts predict that Nucor Corporation will post 19.61 EPS for the current year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 10th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, September 30th. Nucor's payout ratio is 14.26%.

Insider Activity at Nucor

In related news, insider Michael D. Keller sold 1,136 shares of the firm's stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $279.33, for a total transaction of $317,318.88. Following the sale, the insider owned 15,588 shares in the company, valued at approximately $4,354,196.04. This trade represents a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Noah C. Hanners sold 5,190 shares of Nucor stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $275.03, for a total transaction of $1,427,405.70. Following the completion of the transaction, the executive vice president directly owned 44,073 shares of the company's stock, valued at $12,121,397.19. The trade was a 10.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 18,172 shares of company stock worth $4,977,498 in the last three months. Company insiders own 0.62% of the company's stock.

More Nucor News

Here are the key news stories impacting Nucor this week:

• Positive Sentiment: Nucor’s third-quarter revenue rose 32% year over year to $11.25 billion, topping estimates, while earnings per share of $5.80 came in just below consensus. Fourth-quarter guidance was described as steady to slightly better than recent results. Article: Nucor Could Be 5% Undervalued After Strong Earnings And Steady Guidance
• Positive Sentiment: A strong balance sheet and cash flow are supporting shareholder returns—reported at $1.36 billion—and leave room for continued investment, buybacks and dividend growth. Article: Can NUE's Strong Balance Sheet Power Bigger Shareholder Returns Ahead?
• Neutral Sentiment: Despite the quarterly EPS miss, revenue exceeded expectations, and the results point to substantial year-over-year improvement. The mixed beat-and-miss may temper the otherwise positive earnings read-through.
• Negative Sentiment: Two executives recently disclosed stock sales: EVP Allen Behr sold 11,846 shares, reducing his holdings by 16.95%, and Michael Keller sold 1,136 shares, trimming his position by 6.79%. Insider sales can be planned or personal, but may add near-term caution among investors. SEC filing for Allen Behr sale SEC filing for Michael Keller sale

Analyst Upgrades and Downgrades

NUE has been the subject of a number of recent analyst reports. Wedbush set a $304.00 target price on shares of Nucor in a research note on Monday. Weiss Ratings raised shares of Nucor from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 15th. JPMorgan Chase & Co. upped their price target on shares of Nucor from $296.00 to $304.00 and gave the company an "overweight" rating in a research note on Wednesday, October 28th. Zacks Research upgraded shares of Nucor from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 13th. Finally, Barclays raised their price target on shares of Nucor from $306.00 to $320.00 and gave the stock an "overweight" rating in a report on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $286.44.

Nucor Profile

Nucor Corporation is a steel producer headquartered in Charlotte, North Carolina. Through its operating subsidiaries, the company manufactures steel and steel products for customers in construction, automotive, energy, heavy equipment, transportation and other industrial markets.

Nucor's operations include electric arc furnace steel mills, which produce carbon, alloy and galvanized steel products. Its product portfolio includes sheet steel, plate, beams, bars, wire and wire mesh, steel joists, deck, piling, fabricated concrete reinforcing steel and other downstream products.

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