Swiss National Bank Has $79.70 Million Stock Position in Nucor Corporation (NYSE:NUE)

Key Points

• The Swiss National Bank has reduced its stake in Nucor Corporation by 1.2% in the first quarter, owning 662,300 shares valued at approximately $79.70 million post-sale.
• Nucor's recent quarterly earnings report showed earnings per share of $2.60, exceeding analyst expectations, alongside a 4.7% year-over-year revenue increase to $8.46 billion.
• The company declared a quarterly dividend of $0.55 per share, with a dividend yield of 1.6%, to be paid on August 11th to stockholders of record.

Swiss National Bank decreased its stake in Nucor Corporation (NYSE:NUE - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 662,300 shares of the basic materials company's stock after selling 8,200 shares during the period. Swiss National Bank owned approximately 0.29% of Nucor worth $79,701,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Nucor in the fourth quarter worth $25,000. Putney Financial Group LLC bought a new position in Nucor in the fourth quarter worth $29,000. MV Capital Management Inc. lifted its position in Nucor by 73.5% in the first quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company's stock worth $34,000 after purchasing an additional 119 shares during the period. Fourth Dimension Wealth LLC bought a new position in Nucor in the fourth quarter worth $41,000. Finally, Spirit of America Management Corp NY bought a new position in Nucor in the first quarter worth $48,000. Institutional investors and hedge funds own 76.48% of the company's stock.

Nucor Stock Up 1.0%

Shares of NYSE NUE opened at $139.11 on Friday. The stock has a market cap of $32.10 billion, a PE ratio of 25.11, a PEG ratio of 0.89 and a beta of 1.74. The business has a fifty day moving average of $133.57 and a two-hundred day moving average of $126.25. Nucor Corporation has a 52-week low of $97.59 and a 52-week high of $170.52. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 2.83.

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, beating analysts' consensus estimates of $2.54 by $0.06. The company had revenue of $8.46 billion during the quarter, compared to analysts' expectations of $8.47 billion. Nucor had a return on equity of 6.65% and a net margin of 4.21%. The business's revenue was up 4.7% on a year-over-year basis. During the same period last year, the business earned $2.68 earnings per share. As a group, equities research analysts expect that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Monday, June 30th. Nucor's dividend payout ratio is presently 39.71%.

Insider Transactions at Nucor

In other news, EVP Daniel R. Needham sold 7,088 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $127.87, for a total transaction of $906,342.56. Following the sale, the executive vice president owned 99,379 shares in the company, valued at approximately $12,707,592.73. This represents a 6.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kenneth Rex Query sold 10,000 shares of the stock in a transaction 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 $12,265,209.60. The trade was a 9.61% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,109 shares of company stock worth $3,360,094. Insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

NUE has been the subject of several research reports. Wall Street Zen cut Nucor from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. Morgan Stanley raised their target price on Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a research report on Friday, June 20th. BMO Capital Markets raised Nucor from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $140.00 to $145.00 in a research report on Monday, June 2nd. JPMorgan Chase & Co. raised their target price on Nucor from $143.00 to $162.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Finally, UBS Group reduced their target price on Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. One equities research 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 stock. According to MarketBeat, Nucor presently has a consensus rating of "Moderate Buy" and an average price target of $157.13.

Nucor Company 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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