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

Handelsbanken Fonder AB decreased its holdings in shares of Nucor Corporation (NYSE:NUE) by 39.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Stance Capital LLC purchased a new position in Nucor in the 3rd quarter worth approximately $25,000. Strive Financial Group LLC purchased a new stake in shares of Nucor during the 4th quarter valued at $27,000. Motiv8 Investments LLC bought a new stake in shares of Nucor during the 4th quarter worth $32,000. Bartlett & CO. Wealth Management LLC lifted its holdings in shares of Nucor by 49.2% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 63 shares during the last quarter. Finally, Mcguire Capital Advisors Inc. purchased a new position in Nucor in the fourth quarter worth $32,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Nucor news, EVP Thomas J. Batterbee sold 4,000 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president owned 16,138 shares in the company, valued at approximately $4,212,340.76. The trade was a 19.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Stephen D. Laxton sold 3,968 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the transaction, the chief operating officer directly owned 77,867 shares of the company’s stock, valued at approximately $20,008,704.32. This trade represents a 4.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 18,528 shares of company stock valued at $4,793,035 in the last quarter. Insiders own 0.62% of the company’s stock.

Nucor Stock Performance

Shares of NUE stock opened at $268.11 on Monday. 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 stock has a 50 day moving average price of $247.15 and a two-hundred day moving average price of $214.33. The company has a market capitalization of $60.83 billion, a P/E ratio of 21.38, a PEG ratio of 0.60 and a beta of 1.89.

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 analysts’ expectations of $10.15 billion. During the same quarter last year, the business earned $2.60 earnings per share. The business’s revenue was up 23.0% on a year-over-year basis. Analysts expect that Nucor Corporation will post 17.95 earnings per share for the current year.

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders 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 of this dividend was Tuesday, June 30th. Nucor’s dividend payout ratio (DPR) is 17.86%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Bank of America reduced their target price on Nucor from $290.00 to $280.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. BNP Paribas Exane lifted their price target on Nucor from $210.00 to $248.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Jefferies Financial Group upped their price objective on Nucor from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. JPMorgan Chase & Co. increased 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. Finally, Wall Street Zen upgraded Nucor from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $273.31.

About Nucor

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.