Nucor Corporation $NUE Shares Acquired by Swedbank AB

Key Points

• Swedbank AB increased its holdings in Nucor Corporation by 16.9%, acquiring an additional 34,777 shares and bringing its total to 240,308 shares valued at approximately $28.9 million.
• Nucor's stock has received several analyst upgrades, with a current average target price of $155.78 and a "Moderate Buy" rating from analysts.
• The company recently announced a $0.55 quarterly dividend to be paid on November 10th, reflecting a 1.6% dividend yield based on an annualized payout of $2.20.

Swedbank AB boosted its stake in Nucor Corporation (NYSE:NUE - Free Report) by 16.9% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 240,308 shares of the basic materials company's stock after buying an additional 34,777 shares during the quarter. Swedbank AB owned approximately 0.10% of Nucor worth $28,919,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Inspire Investing LLC raised its holdings in Nucor by 12.8% in the 1st quarter. Inspire Investing LLC now owns 26,216 shares of the basic materials company's stock valued at $3,155,000 after acquiring an additional 2,973 shares during the last quarter. Modern Wealth Management LLC grew its stake in shares of Nucor by 45.6% during the 1st quarter. Modern Wealth Management LLC now owns 3,007 shares of the basic materials company's stock valued at $362,000 after buying an additional 942 shares during the period. Strs Ohio purchased a new stake in shares of Nucor during the 1st quarter valued at $13,959,000. Ellsworth Advisors LLC grew its stake in shares of Nucor by 213.0% during the 1st quarter. Ellsworth Advisors LLC now owns 45,539 shares of the basic materials company's stock valued at $5,480,000 after buying an additional 30,988 shares during the period. Finally, Jacobi Capital Management LLC grew its stake in shares of Nucor by 9.1% during the 1st quarter. Jacobi Capital Management LLC now owns 3,715 shares of the basic materials company's stock valued at $447,000 after buying an additional 309 shares during the period. Hedge funds and other institutional investors own 76.48% of the company's stock.

Nucor Stock Up 0.1%

Nucor stock traded up $0.13 during midday trading on Monday, hitting $141.48. 1,547,958 shares of the stock were exchanged, compared to its average volume of 1,216,555. Nucor Corporation has a 1 year low of $97.59 and a 1 year high of $170.52. The firm has a market cap of $32.48 billion, a P/E ratio of 25.54, a P/E/G ratio of 0.89 and a beta of 1.76. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.83 and a quick ratio of 1.51. The company has a 50 day moving average price of $143.19 and a two-hundred day moving average price of $128.40.

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, 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 firm had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.47 billion. During the same quarter in the previous year, the firm posted $2.68 EPS. The firm's quarterly revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts predict that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

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

Insider Activity at Nucor

In other Nucor news, EVP Allen C. Behr sold 8,021 shares of the firm's stock in a transaction on Thursday, July 31st. The shares were 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 of the company's stock, valued at $11,857,956.14. This trade represents a 8.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kenneth Rex Query sold 10,000 shares of the firm's stock in a transaction on 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 transaction, the executive vice president directly owned 94,080 shares of the company's stock, valued at approximately $12,265,209.60. This represents a 9.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,397 shares of company stock valued at $6,763,814 in the last 90 days. 0.71% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NUE. JPMorgan Chase & Co. boosted their price objective 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. Wells Fargo & Company boosted their price objective on shares of Nucor from $145.00 to $146.00 and gave the company an "equal weight" rating in a research note on Monday. BMO Capital Markets raised shares of Nucor from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $140.00 to $145.00 in a research note on Monday, June 2nd. UBS Group reduced their target price on shares of Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Finally, Jefferies Financial Group upgraded shares of Nucor from a "hold" rating to a "buy" rating and lifted their target price for the company from $135.00 to $170.00 in a report on Thursday, July 31st. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $156.80.

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.