Zurcher Kantonalbank Zurich Cantonalbank Sells 9,363 Shares of Nucor Co. (NYSE:NUE)

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in Nucor Co. (NYSE:NUE - Free Report) by 5.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 171,517 shares of the basic materials company's stock after selling 9,363 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.07% of Nucor worth $29,851,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in NUE. Fairfield Bush & CO. purchased a new position in shares of Nucor in the 1st quarter valued at about $48,000. Synovus Financial Corp increased its holdings in shares of Nucor by 150.6% in the 1st quarter. Synovus Financial Corp now owns 7,198 shares of the basic materials company's stock valued at $1,067,000 after purchasing an additional 4,326 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Nucor by 106.2% in the 1st quarter. Sei Investments Co. now owns 35,889 shares of the basic materials company's stock valued at $5,328,000 after purchasing an additional 18,488 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of Nucor in the 1st quarter valued at about $284,000. Finally, Brighton Jones LLC purchased a new position in shares of Nucor in the 1st quarter valued at about $222,000. Institutional investors and hedge funds own 76.48% of the company's stock.

Nucor Trading Up 0.3 %

Shares of NUE traded up $0.67 during mid-day trading on Wednesday, hitting $192.78. The company had a trading volume of 1,150,369 shares, compared to its average volume of 1,379,947. The business's 50-day simple moving average is $191.00 and its 200-day simple moving average is $173.20. The company has a quick ratio of 2.35, a current ratio of 3.57 and a debt-to-equity ratio of 0.30. Nucor Co. has a 1-year low of $129.79 and a 1-year high of $203.00. The stock has a market cap of $46.26 billion, a PE ratio of 10.72 and a beta of 1.61.

Nucor (NYSE:NUE - Get Free Report) last released its earnings results on Monday, January 29th. The basic materials company reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.33. Nucor had a net margin of 13.03% and a return on equity of 21.42%. The business had revenue of $7.70 billion for the quarter, compared to analysts' expectations of $7.64 billion. During the same period last year, the company earned $4.89 earnings per share. The company's quarterly revenue was down 11.7% on a year-over-year basis. Sell-side analysts forecast that Nucor Co. will post 13 earnings per share for the current year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.54 per share. The ex-dividend date is Wednesday, March 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.12%. Nucor's dividend payout ratio (DPR) is 12.01%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. UBS Group assumed coverage on shares of Nucor in a report on Tuesday, January 16th. They set a "buy" rating and a $210.00 target price for the company. Citigroup upgraded shares of Nucor from a "neutral" rating to a "buy" rating and raised their target price for the company from $180.00 to $240.00 in a report on Wednesday, March 13th. JPMorgan Chase & Co. raised their target price on shares of Nucor from $180.00 to $195.00 and gave the company a "neutral" rating in a report on Tuesday. Finally, StockNews.com upgraded shares of Nucor from a "hold" rating to a "buy" rating in a report on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Nucor has an average rating of "Moderate Buy" and an average price target of $192.83.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Kenneth Rex Query sold 5,500 shares of Nucor stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the transaction, the executive vice president now directly owns 85,326 shares of the company's stock, valued at $15,902,206.62. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Michael D. Keller sold 3,145 shares of Nucor stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total transaction of $609,092.15. Following the sale, the insider now owns 24,873 shares in the company, valued at $4,817,153.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kenneth Rex Query sold 5,500 shares of Nucor stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the sale, the executive vice president now owns 85,326 shares in the company, valued at approximately $15,902,206.62. The disclosure for this sale can be found here. Insiders have sold a total of 38,151 shares of company stock valued at $7,308,683 over the last ninety days. Corporate insiders own 0.64% of the company's stock.

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.