Vest Financial LLC Has $70.13 Million Holdings in Nucor Corporation $NUE

Key Points

• Vest Financial LLC has reduced its stake in Nucor Corporation by 2.7% in Q2, now holding 541,371 shares worth approximately $70.13 million, representing 1.0% of its total holdings.
• Insiders at Nucor sold a total of 31,309 shares valued at over $4.55 million in the last three months, decreasing their ownership in the company.
• Nucor announced a quarterly dividend of $0.55, which will be paid on November 10th, reflecting a 1.6% dividend yield and a payout ratio of 39.71%.

Vest Financial LLC lessened its stake in Nucor Corporation (NYSE:NUE - Free Report) by 2.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 541,371 shares of the basic materials company's stock after selling 14,937 shares during the quarter. Nucor makes up 1.0% of Vest Financial LLC's holdings, making the stock its 12th biggest position. Vest Financial LLC owned about 0.23% of Nucor worth $70,129,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Nucor by 17.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,595 shares of the basic materials company's stock valued at $3,853,000 after buying an additional 4,763 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Nucor by 21.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 101,459 shares of the basic materials company's stock valued at $12,210,000 after purchasing an additional 17,861 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Nucor by 20.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 28,886 shares of the basic materials company's stock valued at $3,476,000 after purchasing an additional 4,914 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in Nucor by 138.5% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 121,543 shares of the basic materials company's stock valued at $15,745,000 after purchasing an additional 70,581 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Nucor by 12.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 305,006 shares of the basic materials company's stock valued at $36,704,000 after purchasing an additional 33,700 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company's stock.

Insiders Place Their Bets

In other Nucor news, EVP Kenneth Rex Query sold 10,000 shares of Nucor stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $144.90, for a total value of $1,449,000.00. Following the transaction, the executive vice president owned 84,080 shares in the company, valued at $12,183,192. The trade was a 10.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael D. Keller sold 6,088 shares of Nucor stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $148.41, for a total value of $903,520.08. Following the completion of the transaction, the insider owned 22,464 shares in the company, valued at approximately $3,333,882.24. This represents a 21.32% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,309 shares of company stock worth $4,553,771. Insiders own 0.71% of the company's stock.

Nucor Stock Down 3.2%

Shares of NYSE NUE opened at $133.68 on Monday. 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 Corporation has a 52 week low of $97.59 and a 52 week high of $170.52. The stock has a market capitalization of $30.68 billion, a P/E ratio of 24.13, a PEG ratio of 0.92 and a beta of 1.75. The stock's fifty day moving average is $141.25 and its 200 day moving average is $129.33.

Nucor (NYSE:NUE - Get Free Report) last issued 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. Nucor had a return on equity of 6.65% and a net margin of 4.21%.The company had revenue of $8.46 billion for the quarter, compared to analysts' expectations of $8.47 billion. During the same quarter last year, the business earned $2.68 earnings per share. Nucor's revenue was up 4.7% on a year-over-year basis. Sell-side analysts forecast that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be given a $0.55 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.6%. Nucor's dividend payout ratio (DPR) is presently 39.71%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NUE. Bank of America raised their price target on Nucor from $150.00 to $165.00 and gave the company a "buy" rating in a report on Monday, September 15th. Morgan Stanley raised 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. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Nucor in a report on Wednesday, October 8th. Wells Fargo & Company cut their price target on Nucor from $146.00 to $140.00 and set an "equal weight" rating for the company in a report on Thursday, September 18th. Finally, The Goldman Sachs Group dropped their target price on Nucor from $182.00 to $173.00 and set a "buy" rating for the company in a report on Monday, September 22nd. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Nucor currently has an average rating of "Moderate Buy" and an average target price of $156.60.

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.

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