Nucor Co. (NYSE:NUE) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in Nucor Co. (NYSE:NUE) by 5.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,517 shares of the basic materials company’s stock after selling 9,363 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Nucor were worth $29,851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Keybank National Association OH boosted its stake in Nucor by 3.4% in the third quarter. Keybank National Association OH now owns 19,246 shares of the basic materials company’s stock valued at $3,009,000 after acquiring an additional 639 shares in the last quarter. Compagnie Lombard Odier SCmA acquired a new position in Nucor in the fourth quarter valued at $3,481,000. Sapient Capital LLC acquired a new position in Nucor in the fourth quarter valued at $1,230,000. Blue Trust Inc. boosted its stake in Nucor by 47.4% in the fourth quarter. Blue Trust Inc. now owns 871 shares of the basic materials company’s stock valued at $152,000 after acquiring an additional 280 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in Nucor by 2.5% in the third quarter. Deutsche Bank AG now owns 908,340 shares of the basic materials company’s stock valued at $142,019,000 after acquiring an additional 22,470 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NUE. JPMorgan Chase & Co. increased their target price on shares of Nucor from $180.00 to $195.00 and gave the stock a “neutral” rating in a research note on Tuesday. UBS Group began coverage on shares of Nucor in a research note on Tuesday, January 16th. They set a “buy” rating and a $210.00 target price for the company. Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and increased their target price for the stock from $180.00 to $240.00 in a research note on Wednesday, March 13th. Finally, StockNews.com upgraded shares of Nucor from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $192.83.

Insider Buying and Selling

In other Nucor news, EVP Kenneth Rex Query sold 5,500 shares of Nucor stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $186.37, for a total value of $1,025,035.00. Following the transaction, the executive vice president now owns 85,326 shares in the company, valued at approximately $15,902,206.62. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Nucor news, EVP Douglas J. Jellison sold 19,506 shares of Nucor stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.41, for a total value of $3,772,655.46. Following the transaction, the executive vice president now owns 120,738 shares in the company, valued at approximately $23,351,936.58. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kenneth Rex Query sold 5,500 shares of Nucor stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the completion of the transaction, the executive vice president now owns 85,326 shares in the company, valued at approximately $15,902,206.62. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,151 shares of company stock worth $7,308,683. 0.64% of the stock is owned by insiders.

Nucor Trading Down 1.0 %

NYSE NUE opened at $192.12 on Wednesday. Nucor Co. has a 52-week low of $129.79 and a 52-week high of $203.00. The firm has a 50-day moving average price of $190.87 and a 200 day moving average price of $173.06. The stock has a market capitalization of $46.10 billion, a P/E ratio of 10.68 and a beta of 1.61. The company has a quick ratio of 2.35, a current ratio of 3.57 and a debt-to-equity ratio of 0.30.

Nucor (NYSE:NUE) last announced its earnings results on Monday, January 29th. The basic materials company reported $3.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.33. Nucor had a net margin of 13.03% and a return on equity of 21.42%. The firm had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.64 billion. During the same quarter last year, the business earned $4.89 earnings per share. Nucor’s revenue was down 11.7% compared to the same quarter last year. Equities research analysts expect that Nucor Co. will post 13 EPS for the current year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Thursday, March 28th will be given a dividend of $0.54 per share. The ex-dividend date is Wednesday, March 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.12%. Nucor’s dividend payout ratio (DPR) is currently 12.01%.

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.