Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group Sells 1,626 Shares of Nucor Corporation $NUE

Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group cut its holdings in Nucor Corporation (NYSE:NUE) by 18.0% in the second quarter, HoldingsChannel reports. The firm owned 7,389 shares of the basic materials company’s stock after selling 1,626 shares during the period. Nucor accounts for approximately 0.6% of Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group’s portfolio, making the stock its 27th biggest holding. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group’s holdings in Nucor were worth $957,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Nucor by 2.6% during the first quarter. Vanguard Group Inc. now owns 28,959,327 shares of the basic materials company’s stock valued at $3,484,965,000 after acquiring an additional 745,671 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Nucor by 18.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,309,452 shares of the basic materials company’s stock valued at $277,920,000 after acquiring an additional 355,364 shares during the period. Nordea Investment Management AB boosted its holdings in Nucor by 10.6% during the second quarter. Nordea Investment Management AB now owns 1,856,100 shares of the basic materials company’s stock valued at $244,059,000 after acquiring an additional 177,420 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Nucor by 5.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,772,831 shares of the basic materials company’s stock valued at $213,342,000 after acquiring an additional 92,363 shares during the period. Finally, Diamond Hill Capital Management Inc. bought a new stake in Nucor during the first quarter valued at about $194,804,000. 76.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Nucor

In related news, EVP Allen C. Behr sold 8,021 shares of the stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $143.38, for a total value of $1,150,050.98. Following the completion of the transaction, the executive vice president owned 82,703 shares of the company’s stock, valued at $11,857,956.14. This represents a 8.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kenneth Rex Query sold 10,000 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $144.90, for a total transaction of $1,449,000.00. Following the completion of the transaction, the executive vice president directly owned 84,080 shares of the company’s stock, valued at $12,183,192. This trade represents a 10.63% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,309 shares of company stock worth $4,553,771. 0.46% of the stock is currently owned by company insiders.

Nucor Stock Up 0.2%

NYSE NUE opened at $138.79 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 2.83. The firm has a 50-day simple moving average of $140.44 and a 200 day simple moving average of $131.03. Nucor Corporation has a twelve month low of $97.59 and a twelve month high of $170.52. The stock has a market cap of $31.86 billion, a PE ratio of 25.05, a PEG ratio of 1.03 and a beta of 1.75.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, July 28th. The basic materials company reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.06. Nucor had a net margin of 4.21% and a return on equity of 6.65%. The firm had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.47 billion. During the same quarter in the prior year, the business posted $2.68 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, research analysts forecast that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 30th. Nucor’s dividend payout ratio is 39.71%.

Wall Street Analyst Weigh In

NUE has been the subject of a number of recent analyst reports. Jefferies Financial Group upgraded shares of Nucor from a “hold” rating to a “buy” rating and upped their price target for the company from $135.00 to $170.00 in a report on Thursday, July 31st. Wells Fargo & Company decreased their price target on shares of Nucor from $146.00 to $140.00 and set an “equal weight” rating for the company in a report on Thursday, September 18th. JPMorgan Chase & Co. upped their price target on shares of Nucor from $165.00 to $172.00 and gave the company an “overweight” rating in a report on Monday, October 13th. Bank of America increased their target price on shares of Nucor from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Nucor in a research note on Saturday. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Nucor currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.60.

About Nucor

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.