Swedbank AB Sells 5,785 Shares of Nucor Corporation $NUE

Swedbank AB cut its holdings in Nucor Corporation (NYSE:NUE) by 2.4% during the 1st quarter, Holdings Channel reports. The firm owned 237,606 shares of the basic materials company’s stock after selling 5,785 shares during the period. Swedbank AB’s holdings in Nucor were worth $40,179,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Stance Capital LLC purchased a new stake in Nucor in the 3rd quarter worth approximately $25,000. Strive Financial Group LLC purchased a new position in shares of Nucor during the fourth quarter valued at approximately $27,000. Motiv8 Investments LLC bought a new position in shares of Nucor during the fourth quarter valued at approximately $32,000. Mcguire Capital Advisors Inc. bought a new position in shares of Nucor during the fourth quarter valued at approximately $32,000. Finally, Reflection Asset Management purchased a new stake in Nucor in the fourth quarter worth $36,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Allen C. Behr sold 10,096 shares of the business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $226.08, for a total value of $2,282,503.68. Following the sale, the executive vice president directly owned 62,871 shares of the company’s stock, valued at approximately $14,213,875.68. The trade was a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John J. Hollatz sold 10,560 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total value of $2,729,337.60. Following the transaction, the executive vice president owned 97,865 shares of the company’s stock, valued at $25,294,187.90. The trade was a 9.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 82,378 shares of company stock valued at $18,963,930 in the last ninety days. Corporate insiders own 0.62% of the company’s stock.

Nucor Stock Down 0.3%

Shares of Nucor stock opened at $226.84 on Thursday. Nucor Corporation has a 1 year low of $131.32 and a 1 year high of $270.90. The firm has a market cap of $51.66 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 0.52 and a beta of 1.91. The company has a 50-day moving average of $238.56 and a 200 day moving average of $198.53. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, topping the consensus estimate of $2.82 by $0.41. The business had revenue of $9.50 billion for the quarter, compared to analyst estimates of $8.88 billion. Nucor had a net margin of 6.82% and a return on equity of 10.68%. Nucor’s quarterly revenue was up 21.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.77 earnings per share. As a group, sell-side analysts anticipate that Nucor Corporation will post 17.68 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th will be paid a $0.56 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.24 annualized dividend and a dividend yield of 1.0%. Nucor’s dividend payout ratio is presently 22.18%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Barclays started coverage on shares of Nucor in a report on Thursday, May 21st. They issued an “overweight” rating and a $270.00 price target on the stock. Argus raised their target price on shares of Nucor from $200.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. BNP Paribas Exane lifted their target price on shares of Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Jefferies Financial Group boosted their price target on shares of Nucor from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, Citigroup increased their price target on shares of Nucor from $180.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $266.92.

Nucor Company Profile

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.