Nucor Corporation $NUE Stock Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. reduced its stake in Nucor Corporation (NYSE:NUE) by 47.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,655 shares of the basic materials company’s stock after selling 6,889 shares during the period. Vontobel Holding Ltd.’s holdings in Nucor were worth $1,789,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. California Public Employees Retirement System lifted its position in shares of Nucor by 19.3% during the 1st quarter. California Public Employees Retirement System now owns 510,331 shares of the basic materials company’s stock valued at $86,297,000 after acquiring an additional 82,668 shares during the period. Tidal Investments LLC grew its holdings in shares of Nucor by 31.2% during the 2nd quarter. Tidal Investments LLC now owns 61,952 shares of the basic materials company’s stock worth $13,800,000 after purchasing an additional 14,736 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Nucor during the 2nd quarter worth $7,954,000. BIP Wealth LLC bought a new position in shares of Nucor in the second quarter worth $852,000. Finally, Bank of New York Mellon Corp increased its position in shares of Nucor by 1.7% in the first quarter. Bank of New York Mellon Corp now owns 1,809,899 shares of the basic materials company’s stock worth $306,054,000 after purchasing an additional 29,476 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Activity

In other news, EVP Thomas J. Batterbee sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $261.02, for a total value of $1,044,080.00. Following the sale, the executive vice president directly owned 16,138 shares in the company, valued at approximately $4,212,340.76. This trade represents a 19.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Stephen D. Laxton sold 3,968 shares of Nucor stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the sale, the chief operating officer directly owned 77,867 shares in the company, valued at $20,008,704.32. This trade represents a 4.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.62% of the stock is currently owned by insiders.

Nucor Trading Up 1.9%

Shares of NUE stock opened at $261.05 on Tuesday. Nucor Corporation has a fifty-two week low of $133.78 and a fifty-two week high of $280.11. The stock’s fifty day moving average price is $253.44 and its two-hundred day moving average price is $239.18. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51. The company has a market cap of $59.23 billion, a PE ratio of 20.82, a P/E/G ratio of 0.63 and a beta of 1.84.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, July 27th. The basic materials company reported $4.84 earnings per share for the quarter, topping the consensus estimate of $4.46 by $0.38. Nucor had a return on equity of 12.73% and a net margin of 7.99%. The business had revenue of $10.40 billion during the quarter, compared to the consensus estimate of $10.15 billion. During the same period in the prior year, the company earned $2.60 EPS. Nucor’s revenue for the quarter was up 23.0% on a year-over-year basis. Equities analysts predict that Nucor Corporation will post 19.62 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 10th. Shareholders of record on Wednesday, September 30th will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Wednesday, September 30th. Nucor’s payout ratio is currently 17.86%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on NUE shares. Bank of America dropped their price target on Nucor from $290.00 to $280.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Wall Street Zen upgraded shares of Nucor from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Zacks Research raised shares of Nucor from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 13th. Citigroup reissued a “buy” rating on shares of Nucor in a report on Wednesday, July 29th. Finally, KeyCorp dropped their target price on shares of Nucor from $288.00 to $286.00 and set an “overweight” rating for the company in a research report on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $276.86.

Key Nucor News

Here are the key news stories impacting Nucor this week:

• Positive Sentiment: Wall Street Zen upgraded Nucor, providing a favorable analyst signal that may support investor confidence in the steelmaker. Nucor Upgraded at Wall Street Zen
• Positive Sentiment: A Seeking Alpha analysis argues that the market is focusing too heavily on short-term quarterly volatility and may be overlooking Nucor’s longer-term investment case. That framing could encourage investors to look beyond near-term earnings fluctuations. Nucor Q3 Earnings Analysis
• Positive Sentiment: Broader steel-sector sentiment improved after Cleveland-Cliffs reported its strongest quarter in three years. Nucor and Steel Dynamics also moved higher, suggesting investors may be anticipating better operating conditions for domestic steel producers. Cleveland-Cliffs and Steel Stocks Rally
• Positive Sentiment: A Zacks feature identifies Nucor as a highly ranked basic-materials stock, reinforcing the view that it may offer attractive relative strength and earnings potential. Top Basic Materials Stock
• Neutral Sentiment: Nucor is scheduled to release earnings on Monday, keeping the stock centered on expectations for its next quarterly results. Nucor Earnings Release
• Negative Sentiment: Zacks cautions that Nucor lacks the two key ingredients associated with a likely earnings beat, potentially limiting upside if results or guidance fall short of elevated expectations. Nucor Earnings Expectations

About Nucor

Nucor Corporation is a steel producer headquartered in Charlotte, North Carolina. Through its operating subsidiaries, the company manufactures steel and steel products for customers in construction, automotive, energy, heavy equipment, transportation and other industrial markets.

Nucor’s operations include electric arc furnace steel mills, which produce carbon, alloy and galvanized steel products. Its product portfolio includes sheet steel, plate, beams, bars, wire and wire mesh, steel joists, deck, piling, fabricated concrete reinforcing steel and other downstream products.