Nucor Co. (NYSE:NUE) Shares Bought by KBC Group NV

KBC Group NV lifted its holdings in shares of Nucor Co. (NYSE:NUE) by 4.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 268,879 shares of the basic materials company’s stock after acquiring an additional 11,440 shares during the quarter. KBC Group NV’s holdings in Nucor were worth $40,423,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. McClarren Financial Advisors Inc. raised its position in Nucor by 129.0% in the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 89 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of Nucor in the third quarter valued at about $26,000. Brown Lisle Cummings Inc. purchased a new stake in shares of Nucor during the 3rd quarter valued at about $30,000. Salomon & Ludwin LLC lifted its position in Nucor by 45.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 72 shares in the last quarter. Finally, HHM Wealth Advisors LLC boosted its holdings in Nucor by 769.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 200 shares during the period. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Price Performance

Shares of NUE stock opened at $146.38 on Friday. The firm has a fifty day moving average of $148.58 and a two-hundred day moving average of $155.22. The firm 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 1-year low of $133.42 and a 1-year 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.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, topping 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%. The company’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same period last year, the firm earned $4.57 earnings per share. As a group, research analysts anticipate that Nucor Co. will post 8.52 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were issued a $0.54 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.48%. Nucor’s dividend payout ratio (DPR) is 20.87%.

Insider Activity at Nucor

In other Nucor news, CFO Stephen D. Laxton sold 4,712 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total transaction of $798,825.36. Following the completion of the sale, the chief financial officer now owns 82,132 shares in the company, valued at $13,923,837.96. The trade was a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction of $793,488.96. Following the completion of the transaction, the executive vice president now owns 85,376 shares in the company, valued at approximately $13,636,254.72. The trade was a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,680 shares of company stock valued at $4,773,724. Corporate insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

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