Victory Capital Management Inc. Acquires 35,943 Shares of Nucor Co. (NYSE:NUE)

Victory Capital Management Inc. lifted its position in Nucor Co. (NYSE:NUE - Free Report) by 10.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 393,328 shares of the basic materials company's stock after purchasing an additional 35,943 shares during the period. Victory Capital Management Inc. owned about 0.17% of Nucor worth $59,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in NUE. National Pension Service lifted its position 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 purchasing an additional 20,258 shares in the last quarter. CX Institutional lifted its holdings in Nucor by 52.8% in the second quarter. CX Institutional now owns 17,245 shares of the basic materials company's stock valued at $2,726,000 after acquiring an additional 5,960 shares during the period. Banco Santander S.A. raised its stake in shares of Nucor by 86.2% during the 1st quarter. Banco Santander S.A. now owns 12,895 shares of the basic materials company's stock worth $2,552,000 after buying an additional 5,971 shares during the last quarter. Ascension Asset Management LLC acquired a new position in shares of Nucor during the 2nd quarter worth $885,000. Finally, Kimelman & Baird LLC purchased a new stake in Nucor during the 2nd quarter worth about $6,655,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on NUE. Morgan Stanley lowered their price target on Nucor from $170.00 to $166.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. BMO Capital Markets reduced their price target on Nucor from $175.00 to $160.00 and set a "market perform" rating on the stock in a research report on Wednesday, September 18th. JPMorgan Chase & Co. cut their target price on Nucor from $170.00 to $168.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. Finally, Argus raised Nucor to a "strong-buy" rating in a research report on Monday, August 26th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $190.57.

Insider Activity at Nucor

In other news, CFO Stephen D. Laxton sold 4,712 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total transaction of $798,825.36. Following the completion of the sale, the chief financial officer now directly owns 82,132 shares in the company, valued at approximately $13,923,837.96. This represents a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kenneth Rex Query sold 9,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the transaction, the executive vice president now directly owns 98,770 shares of the company's stock, valued at $14,499,436. This represents a 8.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,680 shares of company stock valued at $4,773,724 in the last three months. Corporate insiders own 0.46% of the company's stock.

Nucor Stock Up 0.5 %

NYSE NUE traded up $0.76 during trading hours on Friday, hitting $147.14. 617,155 shares of the company traded hands, compared to its average volume of 1,545,291. The business's 50-day moving average is $148.72 and its 200-day moving average is $155.16. Nucor Co. has a twelve month low of $133.42 and a twelve month 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 capitalization of $34.55 billion, a price-to-earnings ratio of 14.16 and a beta of 1.55.

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

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend was Friday, September 27th. Nucor's payout ratio is 20.87%.

Nucor 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.