Nucor Corporation (NYSE:NUE) Shares Purchased by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG increased its stake in Nucor Corporation by 20.5% in Q1, owning 20,764 shares valued at approximately $2.5 million.
• Analysts have varying opinions on Nucor's stock, with target prices ranging from $145 to $170, and a consensus rating of "Moderate Buy."
• Nucor recently declared a quarterly dividend of $0.55 per share, yielding 1.6%, with a scheduled payment date of August 11th.

J. Safra Sarasin Holding AG lifted its stake in shares of Nucor Corporation (NYSE:NUE - Free Report) by 20.5% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 20,764 shares of the basic materials company's stock after buying an additional 3,536 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Nucor were worth $2,499,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Invesco Ltd. increased its holdings in Nucor by 18.7% in the 4th quarter. Invesco Ltd. now owns 2,435,265 shares of the basic materials company's stock valued at $284,220,000 after buying an additional 384,205 shares during the period. First Trust Advisors LP boosted its stake in shares of Nucor by 24.6% in the 4th quarter. First Trust Advisors LP now owns 2,404,477 shares of the basic materials company's stock valued at $280,627,000 after purchasing an additional 474,274 shares in the last quarter. Diamond Hill Capital Management Inc. purchased a new stake in Nucor during the 1st quarter valued at $194,804,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Nucor by 7.5% in 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. Finally, ProShare Advisors LLC grew its position in Nucor by 15.8% during the 4th quarter. ProShare Advisors LLC now owns 1,370,077 shares of the basic materials company's stock valued at $159,902,000 after purchasing an additional 186,663 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company's stock.

Nucor Stock Up 0.4%

Shares of NUE traded up $0.58 during mid-day trading on Tuesday, hitting $137.56. 174,730 shares of the company traded hands, compared to its average volume of 2,546,945. Nucor Corporation has a 1-year low of $97.59 and a 1-year high of $170.52. The business has a 50 day moving average of $131.20 and a 200 day moving average of $125.85. The company has a quick ratio of 1.51, a current ratio of 2.83 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $31.74 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 0.88 and a beta of 1.74.

Nucor (NYSE:NUE - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The basic materials company reported $2.60 earnings per share for the quarter, topping the consensus estimate 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 quarter in the prior year, the company earned $2.68 EPS. Nucor's quarterly revenue was up 4.7% on a year-over-year basis. Equities research analysts anticipate 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, August 11th. Shareholders of record on Monday, June 30th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.6%. The ex-dividend date is Monday, June 30th. Nucor's dividend payout ratio is currently 39.71%.

Analyst Ratings Changes

A number of research firms recently issued reports on NUE. Jefferies Financial Group raised shares of Nucor from a "hold" rating to a "buy" rating and raised their price objective for the stock from $135.00 to $170.00 in a report on Thursday, July 31st. UBS Group lowered their target price on shares of Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. JPMorgan Chase & Co. boosted their target price on shares of Nucor from $143.00 to $162.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. BMO Capital Markets upgraded Nucor from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $140.00 to $145.00 in a report on Monday, June 2nd. Finally, Morgan Stanley lifted their price objective on Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a report on Friday, June 20th. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $157.13.

Insiders Place Their Bets

In other Nucor news, EVP Kenneth Rex Query sold 10,000 shares of the company's stock in a transaction that occurred on 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 sale, the executive vice president owned 94,080 shares in the company, valued at approximately $12,265,209.60. This represents a 9.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Allen C. Behr sold 8,021 shares of the stock in a transaction that occurred 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 owned 82,703 shares in the company, valued at $11,857,956.14. This trade represents a 8.84% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,109 shares of company stock worth $3,360,094. Corporate insiders own 0.46% of the company's stock.

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.