Skandinaviska Enskilda Banken AB publ Reduces Holdings in Nucor Corporation $NUE

Skandinaviska Enskilda Banken AB publ decreased its position in shares of Nucor Corporation (NYSE:NUE) by 7.0% during the third quarter, HoldingsChannel reports. The fund owned 47,115 shares of the basic materials company’s stock after selling 3,573 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Nucor were worth $6,381,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NUE. IMA Advisory Services Inc. boosted its position in shares of Nucor by 51.4% during the second quarter. IMA Advisory Services Inc. now owns 221 shares of the basic materials company’s stock valued at $29,000 after buying an additional 75 shares during the period. AXS Investments LLC bought a new stake in shares of Nucor during the 3rd quarter worth approximately $37,000. Vision Financial Markets LLC boosted its holdings in Nucor by 281.7% during the 3rd quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 200 shares during the period. Elevation Point Wealth Partners LLC bought a new position in Nucor in the 2nd quarter valued at $39,000. Finally, Geneos Wealth Management Inc. lifted its position in shares of Nucor by 81.8% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 153 shares during the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Stock Down 2.4%

Shares of NUE stock opened at $180.14 on Friday. The stock’s fifty day moving average price is $173.95 and its 200 day moving average price is $155.01. Nucor Corporation has a 1-year low of $97.59 and a 1-year high of $196.90. The company has a market cap of $41.23 billion, a price-to-earnings ratio of 23.89, a price-to-earnings-growth ratio of 0.66 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.94 and a quick ratio of 1.57.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, January 26th. The basic materials company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $1.91 by ($0.18). Nucor had a return on equity of 8.26% and a net margin of 5.37%.The business had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same period in the prior year, the business posted $1.22 EPS. Nucor’s revenue was up 8.6% compared to the same quarter last year. On average, research analysts expect that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, December 31st were given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, December 31st. This is a positive change from Nucor’s previous quarterly dividend of $0.55. Nucor’s payout ratio is currently 29.71%.

Insider Transactions at Nucor

In related news, EVP Thomas J. Batterbee sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $165.28, for a total value of $330,560.00. Following the sale, the executive vice president owned 17,952 shares in the company, valued at $2,967,106.56. This represents a 10.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kenneth Rex Query sold 7,452 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $196.02, for a total transaction of $1,460,741.04. Following the transaction, the executive vice president directly owned 76,628 shares of the company’s stock, valued at $15,020,620.56. This represents a 8.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 34,351 shares of company stock worth $6,206,158. Insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

NUE has been the topic of several recent analyst reports. Citigroup raised their price target on shares of Nucor from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. lifted their price target on shares of Nucor from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, December 5th. Morgan Stanley restated an “equal weight” rating and set a $180.00 price objective (up from $165.00) on shares of Nucor in a report on Friday, January 9th. BNP Paribas Exane lifted their price objective on Nucor from $165.00 to $185.00 and gave the company an “outperform” rating in a report on Friday, January 2nd. Finally, Seaport Research Partners upped their price objective on shares of Nucor from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.36.

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.