Universal Beteiligungs und Servicegesellschaft mbH Reduces Position in Nucor Corporation (NYSE:NUE)

Universal Beteiligungs und Servicegesellschaft mbH lessened its holdings in Nucor Corporation (NYSE:NUE - Free Report) by 9.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 120,959 shares of the basic materials company's stock after selling 13,288 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.05% of Nucor worth $14,556,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of NUE. Norges Bank bought a new position in shares of Nucor in the 4th quarter valued at about $398,077,000. GAMMA Investing LLC boosted its stake in shares of Nucor by 17,785.0% in the 1st quarter. GAMMA Investing LLC now owns 505,789 shares of the basic materials company's stock valued at $60,867,000 after purchasing an additional 502,961 shares during the last quarter. 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 during the last quarter. Voya Investment Management LLC raised its position in shares of Nucor by 528.6% in the 4th quarter. Voya Investment Management LLC now owns 507,715 shares of the basic materials company's stock valued at $59,235,000 after acquiring an additional 426,949 shares during the period. Finally, Invesco Ltd. raised its position in shares of 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 acquiring an additional 384,205 shares during the period. Institutional investors own 76.48% of the company's stock.

Nucor Price Performance

NUE stock traded down $1.18 during mid-day trading on Monday, hitting $144.65. The stock had a trading volume of 738,367 shares, compared to its average volume of 2,552,157. The company has a current ratio of 2.52, a quick ratio of 1.48 and a debt-to-equity ratio of 0.32. Nucor Corporation has a 52 week low of $97.59 and a 52 week high of $170.52. The firm has a market capitalization of $33.38 billion, a P/E ratio of 25.74, a P/E/G ratio of 0.93 and a beta of 1.70. The firm has a fifty day simple moving average of $127.65 and a 200 day simple moving average of $125.06.

Nucor (NYSE:NUE - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.15). The business had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.25 billion. Nucor had a net margin of 4.40% and a return on equity of 6.82%. The firm's quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.46 EPS. As a group, research analysts forecast that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.55 per share. The ex-dividend date is Monday, June 30th. This represents a $2.20 annualized dividend and a yield of 1.52%. Nucor's payout ratio is 39.15%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Nucor from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. The Goldman Sachs Group cut their price target on shares of Nucor from $175.00 to $169.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. JPMorgan Chase & Co. increased their price target on shares of Nucor from $143.00 to $162.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. BMO Capital Markets upgraded shares of Nucor from a "market perform" rating to an "outperform" rating and increased their price target for the company from $140.00 to $145.00 in a research report on Monday, June 2nd. Finally, UBS Group cut their price target on shares of Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. One analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Nucor currently has an average rating of "Moderate Buy" and a consensus price target of $152.75.

Insiders Place Their Bets

In other Nucor news, CEO Leon J. Topalian sold 34,238 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $120.19, for a total transaction of $4,115,065.22. Following the completion of the sale, the chief executive officer owned 162,993 shares in the company, valued at approximately $19,590,128.67. The trade was a 17.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kenneth Rex Query sold 10,000 shares of the business's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $130.37, for a total transaction of $1,303,700.00. Following the sale, the executive vice president 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. In the last 90 days, insiders sold 51,326 shares of company stock worth $6,325,108. 0.71% of the stock is currently owned by insiders.

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.