Skandinaviska Enskilda Banken AB publ Has $10.92 Million Stake in Nucor Co. (NYSE:NUE)

Skandinaviska Enskilda Banken AB publ trimmed its stake in Nucor Co. (NYSE:NUE) by 59.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,255 shares of the basic materials company’s stock after selling 137,100 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Nucor were worth $10,920,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of NUE. Ashton Thomas Securities LLC acquired a new stake in Nucor in the 3rd quarter worth $26,000. GSA Capital Partners LLP acquired a new stake in Nucor in the 3rd quarter worth $239,000. Aptus Capital Advisors LLC lifted its holdings in shares of Nucor by 3.0% during the 3rd quarter. Aptus Capital Advisors LLC now owns 3,562 shares of the basic materials company’s stock worth $536,000 after acquiring an additional 105 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Nucor by 10.1% during the 3rd quarter. Victory Capital Management Inc. now owns 393,328 shares of the basic materials company’s stock worth $59,133,000 after acquiring an additional 35,943 shares during the period. Finally, KBC Group NV lifted its holdings in shares of Nucor by 4.4% during the 3rd quarter. KBC Group NV now owns 268,879 shares of the basic materials company’s stock worth $40,423,000 after acquiring an additional 11,440 shares during the period. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NUE has been the subject of a number of analyst reports. Morgan Stanley raised their price objective on shares of Nucor from $154.00 to $167.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Jefferies Financial Group raised their price objective on shares of Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Citigroup reduced their price objective on shares of Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, December 19th. StockNews.com raised shares of Nucor from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Nucor from $150.00 to $156.00 and gave the company an “overweight” rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.33.

Nucor Trading Up 2.1 %

Shares of NYSE NUE opened at $132.26 on Friday. Nucor Co. has a 1-year low of $112.25 and a 1-year high of $203.00. The company has a market cap of $30.49 billion, a PE ratio of 15.73, a P/E/G ratio of 0.96 and a beta of 1.58. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average of $129.75 and a two-hundred day moving average of $138.57.

Nucor (NYSE:NUE) last announced its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.28. Nucor had a net margin of 6.60% and a return on equity of 9.85%. During the same period in the prior year, the firm earned $3.16 earnings per share. As a group, equities analysts expect that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Monday, March 31st. Nucor’s dividend payout ratio is presently 26.16%.

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.