Handelsbanken Fonder AB Sells 87 Shares of Nucor Co. (NYSE:NUE)

Handelsbanken Fonder AB cut its stake in Nucor Co. (NYSE:NUEGet Rating) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,851 shares of the basic materials company’s stock after selling 87 shares during the quarter. Handelsbanken Fonder AB’s holdings in Nucor were worth $3,194,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. increased its position in Nucor by 24.4% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 433 shares of the basic materials company’s stock worth $45,000 after acquiring an additional 85 shares during the period. Brown Brothers Harriman & Co. increased its position in Nucor by 8.4% during the second quarter. Brown Brothers Harriman & Co. now owns 1,157 shares of the basic materials company’s stock worth $121,000 after acquiring an additional 90 shares during the period. Massmutual Trust Co. FSB ADV increased its position in Nucor by 13.2% during the third quarter. Massmutual Trust Co. FSB ADV now owns 772 shares of the basic materials company’s stock worth $83,000 after acquiring an additional 90 shares during the period. Beacon Investment Advisory Services Inc. increased its position in Nucor by 1.4% during the third quarter. Beacon Investment Advisory Services Inc. now owns 6,835 shares of the basic materials company’s stock worth $731,000 after acquiring an additional 95 shares during the period. Finally, Quadrant Capital Group LLC increased its position in Nucor by 5.1% during the second quarter. Quadrant Capital Group LLC now owns 1,986 shares of the basic materials company’s stock worth $207,000 after acquiring an additional 97 shares during the period. 78.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on NUE. Credit Suisse Group decreased their target price on shares of Nucor from $165.00 to $140.00 and set an “outperform” rating on the stock in a report on Friday, September 16th. BMO Capital Markets raised their target price on shares of Nucor from $113.00 to $142.00 and gave the company a “market perform” rating in a report on Wednesday, November 9th. Citigroup raised their target price on shares of Nucor to $145.00 in a report on Tuesday, September 13th. Morgan Stanley decreased their target price on shares of Nucor from $115.00 to $113.00 and set an “equal weight” rating on the stock in a report on Monday, October 24th. Finally, Bank of America started coverage on shares of Nucor in a report on Wednesday, January 4th. They issued a “buy” rating and a $172.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $138.80.

Insider Buying and Selling

In other news, CEO Leon J. Topalian sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 20th. The shares were sold at an average price of $134.71, for a total value of $404,130.00. Following the transaction, the chief executive officer now owns 126,809 shares in the company, valued at approximately $17,082,440.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP John J. Hollatz sold 2,450 shares of the business’s stock in a transaction that occurred on Monday, October 24th. The shares were sold at an average price of $134.40, for a total value of $329,280.00. Following the transaction, the executive vice president now owns 52,282 shares in the company, valued at approximately $7,026,700.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Leon J. Topalian sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 20th. The stock was sold at an average price of $134.71, for a total transaction of $404,130.00. Following the completion of the transaction, the chief executive officer now owns 126,809 shares in the company, valued at approximately $17,082,440.39. The disclosure for this sale can be found here. Insiders have sold a total of 8,450 shares of company stock worth $1,145,280 in the last ninety days. Company insiders own 0.46% of the company’s stock.

Nucor Stock Down 2.0 %

NYSE:NUE opened at $141.07 on Tuesday. The firm’s 50 day simple moving average is $140.96 and its 200 day simple moving average is $130.11. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.10 and a quick ratio of 1.79. Nucor Co. has a one year low of $88.50 and a one year high of $187.90. The company has a market cap of $36.19 billion, a PE ratio of 4.43 and a beta of 1.52.

Nucor (NYSE:NUEGet Rating) last posted its earnings results on Thursday, October 20th. The basic materials company reported $6.50 EPS for the quarter, topping the consensus estimate of $6.45 by $0.05. Nucor had a net margin of 19.93% and a return on equity of 51.03%. The business had revenue of $10.50 billion for the quarter, compared to the consensus estimate of $10.43 billion. During the same period last year, the company earned $7.28 EPS. The firm’s revenue was up 1.8% compared to the same quarter last year. On average, research analysts anticipate that Nucor Co. will post 28.17 earnings per share for the current year.

Nucor Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 10th. Investors of record on Friday, December 30th will be given a dividend of $0.51 per share. The ex-dividend date is Thursday, December 29th. This is an increase from Nucor’s previous quarterly dividend of $0.50. This represents a $2.04 annualized dividend and a yield of 1.45%. Nucor’s dividend payout ratio (DPR) is currently 6.41%.

About Nucor

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Nucor Corporation manufactures and sells steel and steel products. The company's 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 products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.

Further Reading

Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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