APG Asset Management N.V. Acquires 24,477 Shares of Nucor Co. (NYSE:NUE)

APG Asset Management N.V. lifted its holdings in shares of Nucor Co. (NYSE:NUE - Free Report) by 7.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 370,129 shares of the basic materials company's stock after buying an additional 24,477 shares during the period. APG Asset Management N.V. owned approximately 0.15% of Nucor worth $54,593,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NUE. Fortitude Family Office LLC lifted its stake in shares of Nucor by 54.1% in the 1st quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company's stock worth $33,000 after acquiring an additional 59 shares during the period. GPS Wealth Strategies Group LLC boosted its stake in Nucor by 4.1% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,630 shares of the basic materials company's stock valued at $258,000 after purchasing an additional 64 shares in the last quarter. Chilton Capital Management LLC increased its position in shares of Nucor by 94.2% during the 1st quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company's stock valued at $27,000 after purchasing an additional 65 shares during the period. Integrated Advisors Network LLC lifted its holdings in shares of Nucor by 3.4% in the fourth quarter. Integrated Advisors Network LLC now owns 2,141 shares of the basic materials company's stock valued at $373,000 after buying an additional 70 shares during the period. Finally, Aptus Capital Advisors LLC lifted its holdings in Nucor by 2.1% in the 2nd quarter. Aptus Capital Advisors LLC now owns 3,457 shares of the basic materials company's stock valued at $546,000 after acquiring an additional 71 shares during the last quarter. 76.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on NUE shares. BMO Capital Markets dropped their target price on Nucor from $175.00 to $160.00 and set a "market perform" rating on the stock in a report on Wednesday, September 18th. Bank of America cut their price target on Nucor from $210.00 to $200.00 and set a "buy" rating for the company in a research note on Wednesday, June 26th. Morgan Stanley reduced their price target on Nucor from $176.00 to $170.00 and set an "overweight" rating for the company in a research report on Wednesday, September 18th. Argus upgraded shares of Nucor to a "strong-buy" rating in a report on Monday, August 26th. Finally, JPMorgan Chase & Co. upgraded Nucor from a "neutral" rating to an "overweight" rating and increased their target price for the company from $170.00 to $174.00 in a research note on Monday, September 9th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $192.00.

Nucor Trading Up 0.6 %

NUE traded up $0.87 during midday trading on Friday, reaching $150.92. 69,592 shares of the company were exchanged, compared to its average volume of 1,464,156. The stock's 50-day simple moving average is $148.39 and its 200 day simple moving average is $165.15. Nucor Co. has a one year low of $133.42 and a one year high of $203.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.85 and a current ratio of 2.93. The stock has a market capitalization of $36.18 billion, a P/E ratio of 8.85 and a beta of 1.55.

Nucor (NYSE:NUE - Get Free Report) last announced its earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.31 by $0.37. The business had revenue of $8.08 billion for the quarter, compared to analyst estimates of $7.69 billion. Nucor had a return on equity of 15.69% and a net margin of 10.45%. Nucor's revenue for the quarter was down 15.2% compared to the same quarter last year. During the same quarter last year, the firm earned $5.81 EPS. As a group, analysts forecast that Nucor Co. will post 9.28 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.43%. The ex-dividend date is Friday, September 27th. Nucor's dividend payout ratio is 12.71%.

Insider Transactions at Nucor

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the company's stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total value of $1,379,840.00. Following the transaction, the executive vice president now directly owns 99,049 shares of the company's stock, valued at approximately $15,847,840. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.46% of the stock is currently owned by corporate insiders.

Nucor Company Profile

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.