Vontobel Holding Ltd. Has $1.21 Million Stock Holdings in Nucor Co. (NYSE:NUE)

Vontobel Holding Ltd. reduced its position in shares of Nucor Co. (NYSE:NUE) by 28.3% during the third quarter, Holdings Channel reports. The institutional investor owned 8,012 shares of the basic materials company’s stock after selling 3,156 shares during the period. Vontobel Holding Ltd.’s holdings in Nucor were worth $1,205,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NUE. Chilton Capital Management LLC increased its holdings in shares of Nucor by 94.2% during the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 65 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in Nucor during the 1st quarter valued at $28,000. Salomon & Ludwin LLC acquired a new position in Nucor during the first quarter worth $31,000. McClarren Financial Advisors Inc. lifted its stake in shares of Nucor by 129.0% in the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after buying an additional 89 shares in the last quarter. Finally, Benjamin Edwards Inc. acquired a new position in shares of Nucor during the first quarter valued at about $41,000. Institutional investors own 76.48% of the company’s stock.

Insider Activity at Nucor

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the business’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 sale, the executive vice president now directly owns 99,049 shares in the company, valued at $15,847,840. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.46% of the stock is owned by company insiders.

Nucor Stock Up 0.1 %

NUE stock opened at $158.24 on Friday. Nucor Co. has a 1-year low of $133.42 and a 1-year high of $203.00. The stock has a market cap of $37.94 billion, a P/E ratio of 9.31 and a beta of 1.55. The stock’s fifty day simple moving average is $147.44 and its two-hundred day simple moving average is $160.49. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.37. The company had revenue of $8.08 billion during the quarter, compared to analyst estimates of $7.69 billion. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The firm’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.81 earnings per share. Analysts expect that Nucor Co. will post 9.08 EPS for the current year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.37%. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NUE. Argus upgraded shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. Morgan Stanley dropped their target price on Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. JPMorgan Chase & Co. cut their target price on Nucor from $174.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Bank of America lowered their price target on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. Finally, BMO Capital Markets cut their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday, September 18th. Three 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $191.43.

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.