Nucor Corporation $NUE Shares Bought by Van Lanschot Kempen Investment Management N.V.

Key Points

• Van Lanschot Kempen Investment Management N.V. has increased its holdings in Nucor Corporation by 2.7%, acquiring a total of 72,295 shares valued at approximately $8.7 million.
• Several institutional investors have adjusted their positions in Nucor, with a notable 50.2% increase in holdings by Tower Research Capital LLC in the fourth quarter.
• Nucor announced a quarterly dividend of $0.55 per share, reflecting a 1.5% yield and a payout ratio of 39.71% as of the last reported date.

Van Lanschot Kempen Investment Management N.V. boosted its holdings in Nucor Corporation (NYSE:NUE - Free Report) by 2.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 72,295 shares of the basic materials company's stock after acquiring an additional 1,881 shares during the period. Van Lanschot Kempen Investment Management N.V.'s holdings in Nucor were worth $8,700,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Nucor by 17.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,595 shares of the basic materials company's stock worth $3,853,000 after buying an additional 4,763 shares during the last quarter. Voya Investment Management LLC increased its stake in Nucor by 528.6% in the fourth quarter. Voya Investment Management LLC now owns 507,715 shares of the basic materials company's stock valued at $59,235,000 after purchasing an additional 426,949 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Nucor by 21.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 101,459 shares of the basic materials company's stock valued at $12,210,000 after buying an additional 17,861 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Nucor by 20.5% in the first quarter. Assenagon Asset Management S.A. now owns 28,886 shares of the basic materials company's stock valued at $3,476,000 after buying an additional 4,914 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Nucor by 12.4% in the first quarter. Envestnet Asset Management Inc. now owns 305,006 shares of the basic materials company's stock valued at $36,704,000 after buying an additional 33,700 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Daniel R. Needham sold 7,200 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $146.00, for a total transaction of $1,051,200.00. Following the transaction, the executive vice president owned 92,179 shares of the company's stock, valued at approximately $13,458,134. The trade was a 7.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Allen C. Behr sold 8,021 shares of the firm's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $143.38, for a total value of $1,150,050.98. Following the sale, the executive vice president directly owned 82,703 shares of the company's stock, valued at $11,857,956.14. The trade was a 8.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,309 shares of company stock valued at $5,860,294. Company insiders own 0.46% of the company's stock.

Nucor Price Performance

Shares of Nucor stock traded up $4.5160 during trading hours on Friday, reaching $147.7660. The company's stock had a trading volume of 1,407,529 shares, compared to its average volume of 1,649,232. The firm has a 50 day moving average price of $138.18 and a 200-day moving average price of $127.42. Nucor Corporation has a one year low of $97.59 and a one year high of $170.52. 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 stock has a market cap of $33.92 billion, a P/E ratio of 26.67, a P/E/G ratio of 0.94 and a beta of 1.74.

Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The basic materials company reported $2.60 EPS for the quarter, topping analysts' consensus estimates of $2.54 by $0.06. The firm had revenue of $8.46 billion for the quarter, compared to analysts' expectations of $8.47 billion. Nucor had a net margin of 4.21% and a return on equity of 6.65%. The business's revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.68 earnings per share. On average, analysts predict that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, June 30th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Monday, June 30th. Nucor's dividend payout ratio (DPR) is currently 39.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NUE shares. BMO Capital Markets upgraded Nucor from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $140.00 to $145.00 in a research note on Monday, June 2nd. Wall Street Zen lowered Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. UBS Group reduced their target price on Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. Jefferies Financial Group raised shares of Nucor from a "hold" rating to a "buy" rating and raised their price target for the stock from $135.00 to $170.00 in a report on Thursday, July 31st. Finally, Wells Fargo & Company raised shares of Nucor to a "hold" rating in a research report on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $155.78.

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.