Nucor Co. (NYSE:NUE) Shares Purchased by APG Asset Management N.V.

APG Asset Management N.V. raised its holdings in Nucor Co. (NYSE:NUE) by 7.1% in the second quarter, Holdings Channel.com reports. The fund owned 370,129 shares of the basic materials company’s stock after acquiring an additional 24,477 shares during the period. APG Asset Management N.V.’s holdings in Nucor were worth $54,593,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. McClarren Financial Advisors Inc. lifted its stake in Nucor by 129.0% during the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 89 shares during the last quarter. Rise Advisors LLC bought a new position in shares of Nucor in the first quarter valued at $27,000. Chilton Capital Management LLC lifted its position in shares of Nucor by 94.2% during the 1st 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 during the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Nucor during the 1st quarter worth $28,000. Finally, Tompkins Financial Corp grew its holdings in shares of Nucor by 208.0% in the 1st quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 104 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Insider Activity

In related news, EVP Daniel R. Needham sold 8,624 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were 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 $15,847,840. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.46% of the stock is owned by corporate insiders.

Nucor Stock Performance

Shares of NUE opened at $150.53 on Friday. Nucor Co. has a 52 week low of $133.42 and a 52 week high of $203.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.85 and a current ratio of 2.93. The company has a market capitalization of $36.09 billion, a PE ratio of 8.85 and a beta of 1.55. The company’s 50 day moving average price is $148.69 and its 200 day moving average price is $165.25.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, beating the consensus estimate of $2.31 by $0.37. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The business 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 company posted $5.81 EPS. Nucor’s revenue was down 15.2% on a year-over-year basis. Research analysts expect that Nucor Co. will post 9.28 EPS for the current fiscal year.

Nucor Announces Dividend

The company also recently declared 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. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Friday, September 27th. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. BMO Capital Markets reduced their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. Bank of America reduced their price objective on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. JPMorgan Chase & Co. upgraded shares of Nucor from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $170.00 to $174.00 in a report on Monday, September 9th. Morgan Stanley reduced their price target on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a research report on Wednesday, September 18th. Finally, Argus upgraded shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $192.00.

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.