Nucor Co. (NYSE:NUE) Shares Bought by Banco Santander S.A.

Banco Santander S.A. grew its position in Nucor Co. (NYSE:NUE) by 329.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 68,399 shares of the basic materials company’s stock after acquiring an additional 52,483 shares during the period. Banco Santander S.A.’s holdings in Nucor were worth $10,283,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Natixis lifted its position in shares of Nucor by 1,761.5% during the first quarter. Natixis now owns 3,146 shares of the basic materials company’s stock worth $623,000 after purchasing an additional 2,977 shares in the last quarter. EntryPoint Capital LLC boosted its position in Nucor by 44.6% in the 1st quarter. EntryPoint Capital LLC now owns 467 shares of the basic materials company’s stock valued at $92,000 after buying an additional 144 shares during the period. CreativeOne Wealth LLC purchased a new position in Nucor in the 1st quarter valued at approximately $1,111,000. EP Wealth Advisors LLC grew its stake in shares of Nucor by 35.7% in the first quarter. EP Wealth Advisors LLC now owns 2,585 shares of the basic materials company’s stock worth $512,000 after acquiring an additional 680 shares in the last quarter. Finally, Capital International Inc. CA increased its position in shares of Nucor by 24.3% during the first quarter. Capital International Inc. CA now owns 18,945 shares of the basic materials company’s stock worth $3,749,000 after acquiring an additional 3,699 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Buying and Selling

In other news, CFO Stephen D. Laxton sold 4,712 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total value of $798,825.36. Following the completion of the sale, the chief financial officer now directly owns 82,132 shares of the company’s stock, valued at approximately $13,923,837.96. This represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Allen C. Behr sold 4,968 shares of the firm’s 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 transaction, the executive vice president now directly owns 85,376 shares in the company, valued at approximately $13,636,254.72. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,680 shares of company stock worth $4,773,724 in the last quarter. 0.46% of the stock is owned by insiders.

Nucor Stock Performance

Shares of Nucor stock opened at $149.99 on Friday. The firm has a market capitalization of $35.22 billion, a P/E ratio of 14.49 and a beta of 1.55. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. Nucor Co. has a 52 week low of $133.42 and a 52 week high of $203.00. The firm’s 50 day moving average is $149.51 and its two-hundred day moving average is $154.33.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.40 by $0.09. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The firm had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.28 billion. During the same period last year, the business earned $4.57 EPS. Nucor’s revenue for the quarter was down 15.2% compared to the same quarter last year. Research analysts forecast that Nucor Co. will post 8.52 EPS for the current fiscal year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were given a $0.54 dividend. 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 (DPR) is presently 20.87%.

Analyst Upgrades and Downgrades

NUE has been the subject of several analyst reports. JPMorgan Chase & Co. lowered their target price on Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Argus raised 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 report on Wednesday, October 23rd. Finally, BMO Capital Markets lowered their price target on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. 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, the stock has an average rating of “Moderate Buy” and an average price target of $190.57.

Nucor Company 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.