Skandinaviska Enskilda Banken AB publ Has $5.96 Million Stock Holdings in Nucor Corporation (NYSE:NUE)

Key Points

• Skandinaviska Enskilda Banken AB sold 44,713 shares of Nucor Corporation, reducing its holding by 47.4% to 49,542 shares, valued at approximately $5.96 million.
• Nucor reported a quarterly EPS of $0.77, missing analyst expectations of $0.92, while also experiencing a 3.8% decline in revenue year-over-year.
• The company declared a quarterly dividend of $0.55 per share, with an annualized yield of 1.51% and a payout ratio of 39.15%.

Skandinaviska Enskilda Banken AB publ lowered its position in Nucor Corporation (NYSE:NUE - Free Report) by 47.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,542 shares of the basic materials company's stock after selling 44,713 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Nucor were worth $5,962,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Nucor during the fourth quarter worth about $25,000. Putney Financial Group LLC bought a new stake in Nucor in the fourth quarter valued at about $29,000. MV Capital Management Inc. grew its holdings in shares of Nucor by 73.5% during the first quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company's stock valued at $34,000 after purchasing an additional 119 shares during the last quarter. Fourth Dimension Wealth LLC bought a new position in shares of Nucor during the fourth quarter valued at approximately $41,000. Finally, Park Square Financial Group LLC bought a new position in shares of Nucor during the fourth quarter valued at approximately $48,000. Institutional investors and hedge funds own 76.48% of the company's stock.

Insider Activity

In related news, EVP Daniel R. Needham sold 7,088 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $127.87, for a total value of $906,342.56. Following the completion of the transaction, the executive vice president owned 99,379 shares of the company's stock, valued at $12,707,592.73. This represents a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kenneth Rex Query sold 10,000 shares of the stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $130.37, for a total transaction of $1,303,700.00. Following the completion of the transaction, the executive vice president directly owned 94,080 shares of the company's stock, valued at $12,265,209.60. This trade represents a 9.61% decrease in their position. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by company insiders.

Nucor Stock Up 1.1%

NYSE:NUE traded up $1.56 during trading hours on Thursday, reaching $144.51. The company's stock had a trading volume of 631,981 shares, compared to its average volume of 2,563,627. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.83 and a quick ratio of 1.48. Nucor Corporation has a one year low of $97.59 and a one year high of $170.52. The business's 50-day moving average is $129.37 and its 200-day moving average is $125.47. The company has a market cap of $33.34 billion, a price-to-earnings ratio of 26.09, a price-to-earnings-growth ratio of 0.90 and a beta of 1.70.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The basic materials company reported $2.60 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $8.47 billion. During the same period in the prior year, the company earned $2.68 earnings per share. The business's quarterly revenue was up 4.7% compared to the same quarter last year. Equities research analysts predict that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Monday, June 30th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Monday, June 30th. Nucor's payout ratio is presently 39.71%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective 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 upped their price target on Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a report on Friday, June 20th. UBS Group cut their target price on shares of Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. The Goldman Sachs Group cut their target price on shares of Nucor from $175.00 to $169.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Finally, Wall Street Zen downgraded shares of Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Nucor presently has an average rating of "Moderate Buy" and an average price target of $157.13.

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.