Handelsbanken Fonder AB Sells 7,186 Shares of Nucor Corporation $NUE

Handelsbanken Fonder AB reduced its stake in shares of Nucor Corporation (NYSE:NUE) by 39.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,932 shares of the basic materials company’s stock after selling 7,186 shares during the quarter. Handelsbanken Fonder AB’s holdings in Nucor were worth $2,435,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Nucor by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 28,407,540 shares of the basic materials company’s stock valued at $4,633,554,000 after acquiring an additional 144,038 shares in the last quarter. Morgan Stanley raised its position in shares of Nucor by 1.1% in the 4th quarter. Morgan Stanley now owns 3,853,205 shares of the basic materials company’s stock worth $628,497,000 after acquiring an additional 41,728 shares in the last quarter. Norges Bank bought a new position in shares of Nucor in the 4th quarter worth approximately $609,002,000. Dimensional Fund Advisors LP lifted its stake in shares of Nucor by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,539,044 shares of the basic materials company’s stock valued at $429,298,000 after purchasing an additional 22,718 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Nucor by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,919,883 shares of the basic materials company’s stock valued at $313,152,000 after purchasing an additional 56,565 shares during the period. 76.48% of the stock is currently owned by institutional investors.

Nucor Stock Down 0.3%

NYSE:NUE opened at $268.11 on Monday. The firm has a market cap of $60.83 billion, a P/E ratio of 21.38, a P/E/G ratio of 0.60 and a beta of 1.89. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51. Nucor Corporation has a fifty-two week low of $131.32 and a fifty-two week high of $280.11. The firm has a 50-day simple moving average of $247.15 and a two-hundred day simple moving average of $214.33.

Nucor (NYSE:NUE) last issued its earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.46 by $0.38. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The firm had revenue of $10.40 billion for the quarter, compared to the consensus estimate of $10.15 billion. During the same quarter in the prior year, the firm posted $2.60 earnings per share. The business’s revenue was up 23.0% on a year-over-year basis. Analysts predict that Nucor Corporation will post 17.95 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Tuesday, June 30th. Nucor’s payout ratio is presently 17.86%.

Insider Activity at Nucor

In related news, EVP John J. Hollatz sold 10,560 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total value of $2,729,337.60. Following the transaction, the executive vice president directly owned 97,865 shares of the company’s stock, valued at approximately $25,294,187.90. This represents a 9.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Thomas J. Batterbee sold 4,000 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $261.02, for a total value of $1,044,080.00. Following the sale, the executive vice president owned 16,138 shares in the company, valued at approximately $4,212,340.76. This represents a 19.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 18,528 shares of company stock valued at $4,793,035. 0.62% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wells Fargo & Company upped their price target on Nucor from $283.00 to $297.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. JPMorgan Chase & Co. raised their price objective on Nucor from $240.00 to $282.00 and gave the company an “overweight” rating in a research report on Wednesday, June 10th. Bank of America dropped their target price on shares of Nucor from $290.00 to $280.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. The Goldman Sachs Group upped their target price on shares of Nucor from $260.00 to $284.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. Finally, Wall Street Zen upgraded shares of Nucor from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $273.31.

Nucor Company Profile

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value?added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.