Swedbank AB Increases Holdings in Nucor Co. (NYSE:NUE)

Swedbank AB grew its holdings in Nucor Co. (NYSE:NUE) by 14.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 209,925 shares of the basic materials company’s stock after acquiring an additional 25,744 shares during the period. Swedbank AB owned about 0.09% of Nucor worth $31,560,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Fortitude Family Office LLC lifted its position in shares of Nucor by 54.1% in the first quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 59 shares in the last quarter. GPS Wealth Strategies Group LLC lifted its position in shares of Nucor by 4.1% in the second quarter. GPS Wealth Strategies Group LLC now owns 1,630 shares of the basic materials company’s stock valued at $258,000 after acquiring an additional 64 shares in the last quarter. Chilton Capital Management LLC lifted its position in shares of Nucor by 94.2% in the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 65 shares in the last quarter. Integrated Advisors Network LLC lifted its position in shares of Nucor by 3.4% in the fourth quarter. Integrated Advisors Network LLC now owns 2,141 shares of the basic materials company’s stock valued at $373,000 after acquiring an additional 70 shares in the last quarter. Finally, Aptus Capital Advisors LLC lifted its position in shares of Nucor by 2.1% in the second quarter. Aptus Capital Advisors LLC now owns 3,457 shares of the basic materials company’s stock valued at $546,000 after acquiring an additional 71 shares in the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on NUE shares. BMO Capital Markets lowered their price objective on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 18th. Morgan Stanley decreased their target price on Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. Bank of America decreased their target price on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Argus upgraded Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Finally, JPMorgan Chase & Co. decreased their target price on Nucor from $174.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $191.43.

Insider Activity

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 transaction of $1,379,840.00. Following the transaction, the executive vice president now owns 99,049 shares of the company’s stock, valued at approximately $15,847,840. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.46% of the company’s stock.

Nucor Trading Up 1.7 %

Shares of NYSE NUE opened at $154.26 on Thursday. The business’s 50 day moving average is $146.93 and its two-hundred day moving average is $161.06. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85. Nucor Co. has a 1-year low of $133.42 and a 1-year high of $203.00. The stock has a market capitalization of $36.99 billion, a P/E ratio of 9.07 and a beta of 1.55.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.37. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The company had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $7.69 billion. During the same period in the previous year, the firm posted $5.81 earnings per share. The firm’s revenue for the quarter was down 15.2% on a year-over-year basis. As a group, research analysts expect that Nucor Co. will post 9.1 EPS for the current year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.54 per share. The ex-dividend date is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.40%. Nucor’s dividend payout ratio is 12.71%.

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.