Swiss National Bank Reduces Holdings in Nucor Co. (NYSE:NUE)

Swiss National Bank trimmed its position in shares of Nucor Co. (NYSE:NUE) by 0.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 711,700 shares of the basic materials company’s stock after selling 1,100 shares during the quarter. Swiss National Bank’s holdings in Nucor were worth $106,997,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in NUE. McClarren Financial Advisors Inc. grew its holdings in Nucor by 129.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after buying an additional 89 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Nucor in the 3rd quarter valued at $26,000. Coastline Trust Co purchased a new stake in Nucor in the 3rd quarter valued at $29,000. Brown Lisle Cummings Inc. purchased a new stake in Nucor in the 3rd quarter valued at $30,000. Finally, Salomon & Ludwin LLC grew its holdings in Nucor by 45.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock valued at $35,000 after buying an additional 72 shares in the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on NUE shares. Argus upgraded Nucor to a “strong-buy” rating in a report on Monday, August 26th. Morgan Stanley decreased their price target on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their price target on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets decreased their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 18th. Three 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $190.57.

Nucor Price Performance

NUE stock opened at $147.25 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61. The firm has a market capitalization of $34.58 billion, a P/E ratio of 14.21 and a beta of 1.55. The business’s 50-day moving average is $148.88 and its two-hundred day moving average is $154.77. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.09. The company had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. Nucor’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same quarter last year, the company earned $4.57 EPS. Analysts anticipate that Nucor Co. will post 8.52 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, September 27th were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend was Friday, September 27th. Nucor’s dividend payout ratio is currently 20.87%.

Insider Buying and Selling at Nucor

In other news, EVP Allen C. Behr sold 4,968 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $159.72, for a total value of $793,488.96. Following the transaction, the executive vice president now owns 85,376 shares in the company, valued at approximately $13,636,254.72. This represents a 5.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Stephen D. Laxton sold 4,712 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total value of $798,825.36. Following the completion of the transaction, the chief financial officer now owns 82,132 shares in the company, valued at approximately $13,923,837.96. The trade was a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,680 shares of company stock valued at $4,773,724 in the last quarter. Corporate insiders own 0.46% of the company’s stock.

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.