Nucor Co. (NYSE:NUE) Shares Acquired by Deutsche Bank AG

Deutsche Bank AG grew its stake in Nucor Co. (NYSE:NUE) by 5.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 863,909 shares of the basic materials company’s stock after buying an additional 46,884 shares during the period. Deutsche Bank AG’s holdings in Nucor were worth $100,827,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Nucor during the 4th quarter worth about $25,000. Crews Bank & Trust purchased a new position in shares of Nucor in the fourth quarter worth about $29,000. New Wave Wealth Advisors LLC acquired a new stake in shares of Nucor during the fourth quarter worth about $33,000. Beacon Capital Management LLC boosted its position in Nucor by 29.1% in the fourth quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company’s stock valued at $49,000 after buying an additional 94 shares during the last quarter. Finally, Millstone Evans Group LLC acquired a new position in Nucor in the 4th quarter worth approximately $50,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Price Performance

Shares of Nucor stock opened at $115.30 on Monday. The firm has a market cap of $26.58 billion, a PE ratio of 13.71, a P/E/G ratio of 0.96 and a beta of 1.73. Nucor Co. has a twelve month low of $97.59 and a twelve month high of $176.59. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average price of $119.05 and a 200 day moving average price of $129.33.

Nucor (NYSE:NUE) last announced its earnings results on Monday, April 28th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.15). The company had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.25 billion. Nucor had a net margin of 6.60% and a return on equity of 9.85%. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.46 EPS. Sell-side analysts predict that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Monday, March 31st. Nucor’s dividend payout ratio is currently 39.15%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Morgan Stanley set a $164.00 price objective on shares of Nucor in a research note on Monday, March 24th. Jefferies Financial Group boosted their target price on shares of Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. UBS Group raised Nucor from a “neutral” rating to a “buy” rating and increased their price target for the stock from $156.00 to $160.00 in a research report on Monday, March 24th. Argus set a $155.00 price objective on Nucor in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. dropped their target price on Nucor from $156.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $160.33.

Insider Buying and Selling

In other Nucor news, CEO Leon J. Topalian sold 34,238 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $120.19, for a total value of $4,115,065.22. Following the completion of the sale, the chief executive officer now owns 162,993 shares in the company, valued at approximately $19,590,128.67. This represents a 17.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.46% of the stock is currently owned by company insiders.

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.