Victory Capital Management Inc. Buys 35,943 Shares of Nucor Co. (NYSE:NUE)

Victory Capital Management Inc. increased its stake in Nucor Co. (NYSE:NUE) by 10.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 393,328 shares of the basic materials company’s stock after purchasing an additional 35,943 shares during the period. Victory Capital Management Inc.’s holdings in Nucor were worth $59,133,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of NUE. McClarren Financial Advisors Inc. raised its position in shares of Nucor by 129.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after buying an additional 89 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Nucor in the third quarter valued at approximately $26,000. Brown Lisle Cummings Inc. acquired a new position in Nucor during the third quarter valued at approximately $30,000. Salomon & Ludwin LLC lifted 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 last quarter. Finally, HHM Wealth Advisors LLC boosted its holdings in shares of Nucor by 769.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insiders Place Their Bets

In other Nucor news, EVP Kenneth Rex Query sold 9,000 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the sale, the executive vice president now owns 98,770 shares of the company’s stock, valued at approximately $14,499,436. This represents a 8.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Allen C. Behr sold 4,968 shares of Nucor stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $159.72, for a total value of $793,488.96. Following the completion of the transaction, the executive vice president now directly owns 85,376 shares of the company’s stock, valued at approximately $13,636,254.72. This trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,680 shares of company stock worth $4,773,724. 0.46% of the stock is currently owned by insiders.

Nucor Trading Down 3.8 %

Shares of NYSE NUE opened at $146.38 on Friday. The firm has a 50 day moving average price of $148.58 and a two-hundred day moving average price of $155.22. The stock has a market cap of $34.37 billion, a P/E ratio of 14.14 and a beta of 1.55. Nucor Co. has a 52-week low of $133.42 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.

Nucor (NYSE:NUE) last posted its quarterly earnings data 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. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. Nucor’s quarterly revenue was down 15.2% on a year-over-year basis. During the same period in the prior year, the business posted $4.57 earnings per share. As a group, equities analysts forecast that Nucor Co. will post 8.52 EPS for the current year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date was Friday, September 27th. Nucor’s dividend payout ratio is currently 20.87%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NUE. BMO Capital Markets lowered their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. 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 report on Wednesday, October 23rd. Morgan Stanley decreased their price target on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, Argus raised shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Three equities research 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. Based on data from MarketBeat, Nucor has a consensus rating of “Moderate Buy” and a consensus price target 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.