Nucor Co. (NYSE:NUE) Shares Acquired by AIA Group Ltd

AIA Group Ltd lifted its position in shares of Nucor Co. (NYSE:NUEFree Report) by 129.3% in the third quarter, Holdings Channel reports. The firm owned 8,634 shares of the basic materials company’s stock after purchasing an additional 4,868 shares during the period. AIA Group Ltd’s holdings in Nucor were worth $1,350,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Fairfield Bush & CO. purchased a new stake in Nucor during the first quarter worth approximately $48,000. Synovus Financial Corp lifted its holdings in shares of Nucor by 150.6% during the 1st quarter. Synovus Financial Corp now owns 7,198 shares of the basic materials company’s stock valued at $1,067,000 after acquiring an additional 4,326 shares in the last quarter. Sei Investments Co. increased its holdings in Nucor by 106.2% in the 1st quarter. Sei Investments Co. now owns 35,889 shares of the basic materials company’s stock valued at $5,328,000 after purchasing an additional 18,488 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in Nucor in the first quarter valued at about $284,000. Finally, Brighton Jones LLC purchased a new stake in shares of Nucor during the 1st quarter valued at about $222,000. Institutional investors and hedge funds own 77.76% of the company’s stock.

Nucor Stock Down 1.0 %

NYSE:NUE opened at $169.09 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.50 and a current ratio of 3.72. The company has a market capitalization of $41.57 billion, a price-to-earnings ratio of 8.57 and a beta of 1.63. Nucor Co. has a one year low of $129.79 and a one year high of $182.68. The stock has a 50-day simple moving average of $166.84 and a 200 day simple moving average of $163.03.

Nucor (NYSE:NUEGet Free Report) last issued its earnings results on Tuesday, October 24th. The basic materials company reported $4.57 EPS for the quarter, topping the consensus estimate of $4.19 by $0.38. Nucor had a return on equity of 24.38% and a net margin of 13.98%. The company had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.37 billion. During the same quarter last year, the firm earned $6.50 EPS. The business’s revenue was down 16.4% on a year-over-year basis. Sell-side analysts predict that Nucor Co. will post 17.67 EPS for the current fiscal year.

Nucor Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, December 29th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $2.16 dividend on an annualized basis and a yield of 1.28%. This is a positive change from Nucor’s previous quarterly dividend of $0.51. Nucor’s payout ratio is currently 10.95%.

Insider Buying and Selling

In other Nucor news, CEO Leon J. Topalian sold 15,000 shares of the firm’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $176.28, for a total value of $2,644,200.00. Following the sale, the chief executive officer now directly owns 140,558 shares in the company, valued at $24,777,564.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Leon J. Topalian sold 15,000 shares of Nucor stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $176.28, for a total value of $2,644,200.00. Following the sale, the chief executive officer now directly owns 140,558 shares in the company, valued at approximately $24,777,564.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael D. Keller sold 6,771 shares of the company’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $177.46, for a total transaction of $1,201,581.66. Following the completion of the transaction, the insider now owns 24,403 shares of the company’s stock, valued at approximately $4,330,556.38. The disclosure for this sale can be found here. Insiders sold a total of 71,830 shares of company stock worth $12,647,513 in the last three months. 0.46% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NUE shares. StockNews.com downgraded shares of Nucor from a “buy” rating to a “hold” rating in a research note on Friday, December 15th. UBS Group initiated coverage on shares of Nucor in a research report on Tuesday. They issued a “buy” rating and a $210.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on Nucor from $151.00 to $158.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 12th. Finally, Morgan Stanley reduced their price target on Nucor from $162.00 to $154.00 and set an “equal weight” rating for the company in a report on Tuesday, October 31st. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Nucor has a consensus rating of “Hold” and an average target price of $173.25.

Check Out Our Latest Stock Analysis on Nucor

Nucor Company Profile

(Free Report)

Nucor Corporation engages in manufacture and sale of 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 engineered special bar quality products.

Further Reading

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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