Commerzbank Aktiengesellschaft FI reduced its holdings in Nucor Co. (NYSE:NUE) by 39.7% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,701 shares of the basic materials company’s stock after selling 8,351 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Nucor were worth $794,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Schwab Charles Investment Management Inc. increased its stake in Nucor by 2.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,304,554 shares of the basic materials company’s stock worth $81,535,000 after acquiring an additional 36,151 shares during the last quarter. Swiss National Bank increased its stake in Nucor by 3.1% in the 2nd quarter. Swiss National Bank now owns 1,051,861 shares of the basic materials company’s stock worth $65,741,000 after acquiring an additional 31,600 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Nucor by 8.0% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 988,704 shares of the basic materials company’s stock worth $61,794,000 after acquiring an additional 73,030 shares during the last quarter. Alps Advisors Inc. increased its stake in Nucor by 9.9% in the 2nd quarter. Alps Advisors Inc. now owns 805,075 shares of the basic materials company’s stock worth $51,187,000 after acquiring an additional 72,509 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in Nucor by 10.7% in the 1st quarter. California Public Employees Retirement System now owns 798,442 shares of the basic materials company’s stock worth $48,777,000 after acquiring an additional 77,044 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

NUE has been the subject of a number of research reports. Jefferies Financial Group reiterated a “buy” rating and issued a $80.00 price objective on shares of Nucor in a report on Friday, July 13th. Zacks Investment Research upgraded Nucor from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Thursday, July 12th. Macquarie upgraded Nucor from a “neutral” rating to an “outperform” rating and set a $75.00 price objective for the company in a report on Thursday, May 17th. KeyCorp upgraded Nucor from a “sector weight” rating to an “overweight” rating and set a $77.00 price objective for the company in a report on Tuesday, July 24th. Finally, ValuEngine cut Nucor from a “hold” rating to a “sell” rating in a report on Tuesday, September 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. Nucor has an average rating of “Buy” and an average price target of $71.16.

In related news, insider Leon J. Topalian sold 3,115 shares of the stock in a transaction dated Thursday, June 21st. The stock was sold at an average price of $64.98, for a total transaction of $202,412.70. Following the completion of the sale, the insider now directly owns 43,370 shares in the company, valued at approximately $2,818,182.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John J. Ferriola sold 14,607 shares of the stock in a transaction dated Tuesday, July 24th. The shares were sold at an average price of $68.25, for a total value of $996,927.75. Following the sale, the chief executive officer now owns 374,542 shares of the company’s stock, valued at $25,562,491.50. The disclosure for this sale can be found here. Insiders have sold a total of 122,443 shares of company stock valued at $8,277,404 over the last 90 days. 0.70% of the stock is currently owned by company insiders.

NUE opened at $63.24 on Monday. Nucor Co. has a 12-month low of $51.67 and a 12-month high of $70.48. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.05 and a quick ratio of 1.55. The stock has a market capitalization of $20.01 billion, a PE ratio of 18.02, a PEG ratio of 0.70 and a beta of 1.54.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Thursday, July 19th. The basic materials company reported $2.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.03). The firm had revenue of $6.46 billion during the quarter, compared to analysts’ expectations of $6.47 billion. Nucor had a return on equity of 16.22% and a net margin of 7.58%. Nucor’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.00 earnings per share. equities research analysts expect that Nucor Co. will post 7.6 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 9th. Investors of record on Friday, September 28th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.40%. Nucor’s dividend payout ratio is presently 43.30%.

Nucor announced that its Board of Directors has authorized a stock repurchase plan on Thursday, September 6th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the basic materials company to purchase up to 10% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Nucor Company Profile

Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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; hollow structural section steel tubing, steel electrical conduit, plate steel, and structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, wire rods, and special bar quality; and tubular and plate steel products.

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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