Vanguard Personalized Indexing Management LLC Has $4.99 Million Stock Position in Nucor Co. (NYSE:NUE)

Vanguard Personalized Indexing Management LLC raised its holdings in Nucor Co. (NYSE:NUE) by 13.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,652 shares of the basic materials company’s stock after buying an additional 3,747 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Nucor were worth $4,992,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. increased its stake in shares of Nucor by 129.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 89 shares in the last quarter. Rise Advisors LLC acquired a new stake in Nucor in the first quarter worth $27,000. Chilton Capital Management LLC grew its holdings in Nucor by 94.2% in the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 65 shares during the period. Central Pacific Bank Trust Division bought a new stake in Nucor in the first quarter valued at $28,000. Finally, Tompkins Financial Corp raised its holdings in shares of Nucor by 208.0% during the first quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 104 shares during the period. 76.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NUE has been the subject of several research reports. JPMorgan Chase & Co. upgraded Nucor from a “neutral” rating to an “overweight” rating and raised their target price for the company from $170.00 to $174.00 in a research note on Monday, September 9th. Morgan Stanley reduced their price objective on Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday. Bank of America decreased their price objective on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Argus upgraded Nucor to a “strong-buy” rating in a report on Monday, August 26th. Finally, BMO Capital Markets decreased their price target on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $192.00.

Nucor Stock Up 0.6 %

Shares of NYSE:NUE opened at $143.00 on Thursday. The stock has a market cap of $34.29 billion, a price-to-earnings ratio of 8.41 and a beta of 1.55. The business’s 50 day moving average is $150.15 and its 200 day moving average is $166.56. Nucor Co. has a 12-month low of $133.42 and a 12-month high of $203.00. The company has a quick ratio of 1.85, a current ratio of 2.93 and a debt-to-equity ratio of 0.26.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.37. The firm had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $7.69 billion. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The business’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.81 EPS. On average, sell-side analysts forecast that Nucor Co. will post 9.95 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Friday, September 27th. Nucor’s payout ratio is 12.71%.

Insider Buying and Selling at Nucor

In other news, EVP Daniel R. Needham sold 8,624 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total value of $1,379,840.00. Following the completion of the transaction, the executive vice president now directly owns 99,049 shares of the company’s stock, valued at $15,847,840. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.46% of the company’s stock.

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.