Van ECK Associates Corp Raises Stock Holdings in Nucor Co. (NYSE:NUE)

Van ECK Associates Corp grew its holdings in shares of Nucor Co. (NYSE:NUE) by 9.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 218,698 shares of the basic materials company’s stock after buying an additional 18,325 shares during the period. Van ECK Associates Corp owned 0.09% of Nucor worth $30,981,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. CX Institutional lifted its stake in Nucor by 52.8% during the 2nd quarter. CX Institutional now owns 17,245 shares of the basic materials company’s stock valued at $2,726,000 after acquiring an additional 5,960 shares during the period. Banco Santander S.A. raised its holdings in Nucor by 86.2% during the first quarter. Banco Santander S.A. now owns 12,895 shares of the basic materials company’s stock valued at $2,552,000 after acquiring an additional 5,971 shares during the period. Ascension Asset Management LLC bought a new position in Nucor in the 2nd quarter worth approximately $885,000. Kimelman & Baird LLC bought a new position in shares of Nucor during the second quarter worth $6,655,000. Finally, DRW Securities LLC purchased a new position in shares of Nucor during the second quarter valued at about $728,000. 76.48% of the stock is currently owned by institutional investors.

Insider Transactions at Nucor

In other news, EVP Kenneth Rex Query sold 9,000 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the sale, the executive vice president now directly owns 98,770 shares in the company, valued at approximately $14,499,436. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.46% of the company’s stock.

Nucor Price Performance

Shares of NUE stock opened at $142.60 on Tuesday. The firm’s 50-day moving average is $147.40 and its two-hundred day moving average is $156.20. Nucor Co. has a 12 month low of $133.42 and a 12 month high of $203.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61. The company has a market capitalization of $33.84 billion, a PE ratio of 13.78 and a beta of 1.55.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.09. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The business had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.28 billion. During the same period last year, the business earned $4.57 earnings per share. The business’s revenue for the quarter was down 15.2% on a year-over-year basis. Analysts predict that Nucor Co. will post 8.65 earnings per share for the current year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Friday, September 27th. Nucor’s payout ratio is presently 20.87%.

Analyst Ratings Changes

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

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.