Victory Capital Management Inc. Has $59.13 Million Stake in Nucor Co. (NYSE:NUE)

Victory Capital Management Inc. boosted its holdings in Nucor Co. (NYSE:NUE) by 10.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 393,328 shares of the basic materials company’s stock after buying an additional 35,943 shares during the period. Victory Capital Management Inc. owned approximately 0.17% of Nucor worth $59,133,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Aptus Capital Advisors LLC lifted its holdings in Nucor by 3.0% during the third quarter. Aptus Capital Advisors LLC now owns 3,562 shares of the basic materials company’s stock worth $536,000 after acquiring an additional 105 shares in the last quarter. WealthPlan Investment Management LLC grew its position in shares of Nucor by 16.5% in the 3rd quarter. WealthPlan Investment Management LLC now owns 69,855 shares of the basic materials company’s stock valued at $10,502,000 after purchasing an additional 9,881 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Nucor during the third quarter worth $239,000. Delta Financial Advisors LLC lifted its position in Nucor by 2.8% in the 3rd quarter. Delta Financial Advisors LLC now owns 29,004 shares of the basic materials company’s stock valued at $4,360,000 after acquiring an additional 778 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in Nucor in the 3rd quarter worth $26,000. 76.48% of the stock is owned by institutional investors.

Insider Activity

In other Nucor news, CFO Stephen D. Laxton sold 4,712 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total value of $798,825.36. Following the transaction, the chief financial officer now directly owns 82,132 shares of the company’s stock, valued at $13,923,837.96. This represents a 5.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Kenneth Rex Query sold 9,000 shares of the 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 transaction, the executive vice president now owns 98,770 shares in the company, valued at $14,499,436. The trade was a 8.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,680 shares of company stock valued at $4,773,724. 0.46% of the stock is owned by insiders.

Analyst Ratings Changes

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

Nucor Stock Down 3.8 %

NUE opened at $146.38 on Friday. The stock’s fifty day simple moving average is $148.58 and its 200 day simple moving average is $155.22. Nucor Co. has a 1-year low of $133.42 and a 1-year high of $203.00. The stock has a market cap of $34.37 billion, a PE ratio of 14.14 and a beta of 1.55. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.09. The company had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The company’s revenue was down 15.2% on a year-over-year basis. During the same period in the prior year, the firm earned $4.57 earnings per share. As a group, research analysts expect that Nucor Co. will post 8.52 earnings per share for the current year.

Nucor Dividend Announcement

The company also recently disclosed 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. 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 presently 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.