Nucor Corporation $NUE Shares Sold by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC trimmed its stake in Nucor Corporation (NYSE:NUE) by 12.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,323 shares of the basic materials company’s stock after selling 4,992 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Nucor were worth $4,447,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of NUE. Diamond Hill Capital Management Inc. purchased a new position in Nucor in the 1st quarter worth about $194,804,000. Nuveen LLC purchased a new position in shares of Nucor in the first quarter worth approximately $141,216,000. Vanguard Group Inc. increased its position in shares of Nucor by 2.6% in the first quarter. Vanguard Group Inc. now owns 28,959,327 shares of the basic materials company’s stock worth $3,484,965,000 after acquiring an additional 745,671 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Nucor by 18.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,309,452 shares of the basic materials company’s stock worth $277,920,000 after acquiring an additional 355,364 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in shares of Nucor by 301.4% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 408,685 shares of the basic materials company’s stock worth $49,181,000 after acquiring an additional 306,867 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analyst Ratings Changes

NUE has been the topic of several research analyst reports. The Goldman Sachs Group lowered their price objective on shares of Nucor from $182.00 to $173.00 and set a “buy” rating on the stock in a research report on Monday, September 22nd. Bank of America lifted 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. Weiss Ratings reiterated a “hold (c)” rating on shares of Nucor in a report on Wednesday, October 8th. Jefferies Financial Group raised Nucor from a “hold” rating to a “buy” rating and lifted their target price for the company from $135.00 to $170.00 in a research note on Thursday, July 31st. Finally, Wells Fargo & Company lowered their target price on Nucor from $146.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 18th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $157.60.

Nucor Stock Performance

Shares of NYSE NUE opened at $138.45 on Wednesday. The business’s 50-day moving average price is $141.22 and its two-hundred day moving average price is $129.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.83 and a quick ratio of 1.51. Nucor Corporation has a one year low of $97.59 and a one year high of $170.52. The company has a market capitalization of $31.78 billion, a P/E ratio of 24.99, a price-to-earnings-growth ratio of 0.95 and a beta of 1.75.

Nucor (NYSE:NUE) last issued its earnings results on Monday, July 28th. The basic materials company reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.06. The firm had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.47 billion. Nucor had a return on equity of 6.65% and a net margin of 4.21%.The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.68 earnings per share. Analysts anticipate that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 30th. Nucor’s payout ratio is currently 39.71%.

Insider Buying and Selling at Nucor

In related news, EVP Kenneth Rex Query sold 10,000 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $144.90, for a total value of $1,449,000.00. Following the completion of the sale, the executive vice president directly owned 84,080 shares in the company, valued at approximately $12,183,192. This represents a 10.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael D. Keller sold 6,088 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $148.41, for a total transaction of $903,520.08. Following the completion of the sale, the insider owned 22,464 shares of the company’s stock, valued at $3,333,882.24. This represents a 21.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,309 shares of company stock valued at $4,553,771. 0.71% of the stock is currently owned by insiders.

Nucor Company 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.