Zurich Insurance Group Ltd FI decreased its holdings in Nucor Co. (NYSE:NUE) by 16.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 61,960 shares of the basic materials company’s stock after selling 11,953 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Nucor were worth $3,873,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in NUE. Almanack Investment Partners LLC. purchased a new stake in shares of Nucor in the 2nd quarter valued at approximately $106,000. Tower Research Capital LLC TRC grew its stake in shares of Nucor by 2,434.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,139 shares of the basic materials company’s stock valued at $634,000 after buying an additional 9,739 shares during the period. Zacks Investment Management purchased a new stake in shares of Nucor in the 2nd quarter valued at approximately $209,000. Paloma Partners Management Co grew its stake in shares of Nucor by 54.8% in the 2nd quarter. Paloma Partners Management Co now owns 33,500 shares of the basic materials company’s stock valued at $2,094,000 after buying an additional 11,866 shares during the period. Finally, Macquarie Group Ltd. grew its stake in shares of Nucor by 2.6% in the 2nd quarter. Macquarie Group Ltd. now owns 86,485 shares of the basic materials company’s stock valued at $5,406,000 after buying an additional 2,223 shares during the period. Institutional investors own 77.24% of the company’s stock.

NYSE:NUE opened at $63.05 on Tuesday. 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 company has a market cap of $19.80 billion, a P/E ratio of 17.96, a P/E/G ratio of 0.68 and a beta of 1.54. Nucor Co. has a fifty-two week low of $53.34 and a fifty-two week high of $70.48.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Thursday, July 19th. The basic materials company reported $2.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.10 by ($0.03). The company had revenue of $6.46 billion for 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%. The business’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.00 EPS. equities analysts forecast that Nucor Co. will post 7.64 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 9th. Investors of record on Friday, September 28th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.41%. Nucor’s payout ratio is currently 43.30%.

Nucor declared that its board has authorized a share buyback program on Thursday, September 6th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the basic materials company to buy up to 10% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Several analysts have recently weighed in on NUE shares. Jefferies Financial Group reissued a “buy” rating and issued a $80.00 price target on shares of Nucor in a research note on Friday, July 13th. Zacks Investment Research cut shares of Nucor from a “buy” rating to a “hold” rating in a research note on Wednesday, May 30th. ValuEngine raised shares of Nucor from a “sell” rating to a “hold” rating in a research note on Thursday, September 13th. Finally, KeyCorp raised shares of Nucor from a “sector weight” rating to an “overweight” rating and set a $77.00 price target for the company in a research note on Tuesday, July 24th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Nucor currently has an average rating of “Buy” and an average price target of $71.00.

In related news, EVP D. Chad Utermark sold 53,483 shares of the stock in a transaction that occurred on Tuesday, July 24th. The shares were sold at an average price of $68.49, for a total transaction of $3,663,050.67. Following the completion of the transaction, the executive vice president now owns 155,140 shares of the company’s stock, valued at approximately $10,625,538.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Sumoski sold 51,238 shares of the stock in a transaction that occurred on Monday, July 23rd. The stock was sold at an average price of $66.65, for a total transaction of $3,415,012.70. Following the transaction, the insider now directly owns 139,839 shares of the company’s stock, valued at approximately $9,320,269.35. 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 in the last ninety days. 0.80% of the stock is currently owned by corporate insiders.

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.

Featured Story: Diversification in Investing

Want to see what other hedge funds are holding NUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nucor Co. (NYSE:NUE).

Institutional Ownership by Quarter for Nucor (NYSE:NUE)

Receive News & Ratings for Nucor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor and related companies with MarketBeat.com's FREE daily email newsletter.