Nucor Co. (NYSE:NUE) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC boosted its holdings in shares of Nucor Co. (NYSE:NUE - Free Report) by 80.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 102,330 shares of the basic materials company's stock after acquiring an additional 45,569 shares during the period. Intech Investment Management LLC's holdings in Nucor were worth $15,384,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. National Pension Service boosted its holdings in shares of Nucor by 3.2% during the third quarter. National Pension Service now owns 652,502 shares of the basic materials company's stock worth $98,097,000 after acquiring an additional 20,258 shares during the period. CX Institutional grew its position in Nucor by 52.8% during the second quarter. CX Institutional now owns 17,245 shares of the basic materials company's stock worth $2,726,000 after buying an additional 5,960 shares in the last quarter. Ascension Asset Management LLC acquired a new stake in shares of Nucor in the 2nd quarter valued at $885,000. BIP Wealth LLC acquired a new stake in shares of Nucor in the 3rd quarter valued at $681,000. Finally, Kimelman & Baird LLC acquired a new stake in shares of Nucor in the 2nd quarter valued at $6,655,000. 76.48% of the stock is currently owned by institutional investors.

Nucor Stock Up 1.3 %

Shares of NYSE:NUE traded up $1.91 during trading on Friday, reaching $151.90. 1,276,262 shares of the stock traded hands, compared to its average volume of 1,553,561. The stock has a 50-day moving average of $149.51 and a two-hundred day moving average of $154.33. Nucor Co. has a 52-week low of $133.42 and a 52-week high of $203.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59. The stock has a market cap of $35.67 billion, a P/E ratio of 14.49 and a beta of 1.55.

Nucor (NYSE:NUE - Get Free Report) last issued its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.09. The company had revenue of $7.44 billion for the quarter, compared to analysts' expectations of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The firm's quarterly revenue was down 15.2% on a year-over-year basis. During the same quarter last year, the company posted $4.57 earnings per share. As a group, sell-side analysts expect that Nucor Co. will post 8.52 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were paid a dividend of $0.54 per share. The ex-dividend date was Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.42%. Nucor's dividend payout ratio is presently 20.87%.

Analyst Upgrades and Downgrades

NUE has been the subject of a number of research reports. Morgan Stanley dropped their price target on Nucor from $170.00 to $166.00 and set an "overweight" rating for the company in a research note on Wednesday, October 23rd. Argus raised Nucor to a "strong-buy" rating in a research report on Monday, August 26th. BMO Capital Markets reduced their target price on Nucor from $175.00 to $160.00 and set a "market perform" rating for the company in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. cut their price target on Nucor from $170.00 to $168.00 and set an "overweight" rating for the company in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $190.57.

Insider Buying and Selling

In other news, EVP Allen C. Behr sold 4,968 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $159.72, for a total value of $793,488.96. Following the completion of the sale, the executive vice president now owns 85,376 shares in the company, valued at approximately $13,636,254.72. The trade was a 5.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Leon J. Topalian sold 11,000 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the transaction, the chief executive officer now owns 172,136 shares of the company's stock, valued at approximately $29,109,918.96. This trade represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,680 shares of company stock valued at $4,773,724. Company insiders own 0.46% of the company's stock.

About Nucor

Nucor Corporation engages in manufacture and sale of steel and steel products. 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; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.