Intech Investment Management LLC Has $15.38 Million Holdings in Nucor Co. (NYSE:NUE)

Intech Investment Management LLC boosted its position in shares of Nucor Co. (NYSE:NUE) by 80.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 102,330 shares of the basic materials company’s stock after buying an additional 45,569 shares during the period. Intech Investment Management LLC’s holdings in Nucor were worth $15,384,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. GPS Wealth Strategies Group LLC increased its position in shares of Nucor by 4.1% during the second quarter. GPS Wealth Strategies Group LLC now owns 1,630 shares of the basic materials company’s stock valued at $258,000 after buying an additional 64 shares during the period. Aptus Capital Advisors LLC grew its stake in Nucor by 2.1% during the second quarter. Aptus Capital Advisors LLC now owns 3,457 shares of the basic materials company’s stock valued at $546,000 after acquiring an additional 71 shares in the last quarter. Brighton Jones LLC increased its holdings in Nucor by 3.3% during the 2nd quarter. Brighton Jones LLC now owns 2,218 shares of the basic materials company’s stock worth $351,000 after acquiring an additional 71 shares during the period. Salomon & Ludwin LLC lifted its stake in Nucor by 45.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 72 shares in the last quarter. Finally, First Trust Direct Indexing L.P. boosted its holdings in Nucor by 1.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,467 shares of the basic materials company’s stock valued at $822,000 after purchasing an additional 74 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Buying and Selling

In other news, EVP Allen C. Behr sold 4,968 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $159.72, for a total transaction of $793,488.96. Following the transaction, the executive vice president now directly owns 85,376 shares of the company’s stock, valued at approximately $13,636,254.72. The trade was a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kenneth Rex Query sold 9,000 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total value of $1,321,200.00. Following the completion of the sale, the executive vice president now directly owns 98,770 shares of the company’s stock, valued at $14,499,436. The trade was a 8.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,680 shares of company stock valued at $4,773,724 over the last ninety days. 0.46% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

NUE has been the topic of a number of recent analyst reports. Argus upgraded Nucor to a “strong-buy” rating in a research report on Monday, August 26th. JPMorgan Chase & Co. dropped their target price on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. BMO Capital Markets lowered their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 18th. Finally, Morgan Stanley cut their target price on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Nucor presently has a consensus rating of “Moderate Buy” and an average target price of $190.57.

Nucor Price Performance

NUE opened at $149.99 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00. The stock’s 50 day simple moving average is $149.51 and its 200 day simple moving average is $154.33. The firm has a market cap of $35.22 billion, a price-to-earnings ratio of 14.49 and a beta of 1.55.

Nucor (NYSE:NUE) last issued its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.09. The firm had revenue of $7.44 billion for the quarter, compared to analysts’ expectations of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The business’s revenue was down 15.2% on a year-over-year basis. During the same quarter last year, the business earned $4.57 earnings per share. As a group, analysts predict 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. Stockholders of record on Friday, September 27th were issued a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.44%. Nucor’s dividend payout ratio is currently 20.87%.

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.