AEGON ASSET MANAGEMENT UK Plc Sells 16,524 Shares of Nucor Co. (NYSE:NUE)

AEGON ASSET MANAGEMENT UK Plc lessened its position in shares of Nucor Co. (NYSE:NUE) by 11.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 122,938 shares of the basic materials company’s stock after selling 16,524 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc’s holdings in Nucor were worth $14,359,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of NUE. Ashton Thomas Securities LLC bought a new stake in Nucor during the third quarter valued at $26,000. Coastline Trust Co acquired a new position in shares of Nucor in the 3rd quarter valued at about $29,000. Brown Lisle Cummings Inc. bought a new stake in shares of Nucor during the 3rd quarter valued at about $30,000. Salomon & Ludwin LLC grew its stake in Nucor by 45.6% during the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 72 shares during the period. Finally, Versant Capital Management Inc increased its holdings in Nucor by 60.3% in the fourth quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 114 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NUE shares. UBS Group restated a “neutral” rating and set a $156.00 price target (down from $171.00) on shares of Nucor in a report on Thursday, December 12th. Morgan Stanley reduced their price target on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Nucor from $168.00 to $152.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Jefferies Financial Group reduced their target price on Nucor from $150.00 to $125.00 and set a “hold” rating for the company in a research note on Monday, January 6th. Finally, The Goldman Sachs Group began coverage on Nucor in a report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price target on the stock. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Nucor currently has an average rating of “Moderate Buy” and a consensus price target of $163.63.

Insider Activity at Nucor

In other Nucor news, CEO Leon J. Topalian sold 11,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total value of $1,860,210.00. Following the completion of the sale, the chief executive officer now directly owns 172,136 shares of the company’s stock, valued at approximately $29,109,918.96. This represents a 6.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Stephen D. Laxton sold 4,712 shares of Nucor stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total transaction of $798,825.36. Following the transaction, 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 29,680 shares of company stock valued at $4,773,724. 0.46% of the stock is owned by insiders.

Nucor Stock Performance

Shares of NUE opened at $122.19 on Friday. Nucor Co. has a 52 week low of $112.25 and a 52 week 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 50 day moving average price of $131.15 and a two-hundred day moving average price of $143.67. The firm has a market capitalization of $28.69 billion, a P/E ratio of 11.81 and a beta of 1.60.

Nucor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.55 per share. The ex-dividend date is Tuesday, December 31st. This represents a $2.20 annualized dividend and a yield of 1.80%. This is an increase from Nucor’s previous quarterly dividend of $0.54. Nucor’s dividend payout ratio is 21.26%.

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.