Zurcher Kantonalbank Zurich Cantonalbank Sells 9,363 Shares of Nucor Co. (NYSE:NUE)

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of Nucor Co. (NYSE:NUE) by 5.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 171,517 shares of the basic materials company’s stock after selling 9,363 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.07% of Nucor worth $29,851,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Keybank National Association OH boosted its position in Nucor by 3.4% during the 3rd 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 bought a new stake in Nucor during the 4th quarter valued at $3,481,000. Sapient Capital LLC bought a new stake in Nucor during the 4th quarter valued at $1,230,000. Blue Trust Inc. boosted its position in Nucor by 47.4% during the 4th 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 position in shares of Nucor by 2.5% in the 3rd quarter. Deutsche Bank AG now owns 908,340 shares of the basic materials company’s stock worth $142,019,000 after purchasing an additional 22,470 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Stock Performance

Shares of NUE stock opened at $192.12 on Wednesday. The firm has a market capitalization of $46.10 billion, a price-to-earnings ratio of 10.68 and a beta of 1.61. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.57 and a quick ratio of 2.35. The business has a fifty day moving average of $190.87 and a 200 day moving average of $173.06. Nucor Co. has a 1 year low of $129.79 and a 1 year high of $203.00.

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

Nucor Announces Dividend

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

Insider Buying and Selling at Nucor

In other Nucor news, insider Michael D. Keller sold 3,145 shares of Nucor stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.67, for a total transaction of $609,092.15. Following the completion of the transaction, the insider now owns 24,873 shares in the company, valued at approximately $4,817,153.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Michael D. Keller sold 3,145 shares of Nucor stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the completion of the transaction, the insider now owns 24,873 shares in the company, valued at approximately $4,817,153.91. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Douglas J. Jellison sold 19,506 shares of Nucor stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 120,738 shares of the company’s stock, valued at approximately $23,351,936.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,151 shares of company stock worth $7,308,683. Insiders own 0.64% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on NUE shares. StockNews.com raised Nucor from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. raised their price objective on Nucor from $180.00 to $195.00 and gave the stock a “neutral” rating in a research report on Tuesday. UBS Group started coverage on Nucor in a research report on Tuesday, January 16th. They issued a “buy” rating and a $210.00 price objective for the company. Finally, Citigroup raised Nucor from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $192.83.

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.