Bangor Savings Bank Sells 72 Shares of Nucor Co. (NYSE:NUE)

Bangor Savings Bank lowered its stake in shares of Nucor Co. (NYSE:NUE) by 5.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,158 shares of the basic materials company’s stock after selling 72 shares during the quarter. Bangor Savings Bank’s holdings in Nucor were worth $174,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. raised its holdings in shares of Nucor by 29.7% in the 2nd quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock worth $456,030,000 after purchasing an additional 660,866 shares during the period. Global Assets Advisory LLC bought a new position in shares of Nucor during the 1st quarter worth $90,216,000. Swedbank AB purchased a new stake in Nucor in the 1st quarter worth about $37,395,000. Captrust Financial Advisors raised its stake in Nucor by 23.5% in the 1st quarter. Captrust Financial Advisors now owns 804,150 shares of the basic materials company’s stock valued at $159,141,000 after acquiring an additional 153,077 shares during the period. Finally, Trinity Street Asset Management LLP purchased a new position in shares of Nucor in the second quarter worth about $19,213,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on NUE. JPMorgan Chase & Co. raised shares of Nucor from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $170.00 to $174.00 in a report on Monday, September 9th. Argus upgraded Nucor to a “strong-buy” rating in a research note on Monday, August 26th. BMO Capital Markets dropped their price objective on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday, September 18th. Morgan Stanley reduced their target price on Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. Finally, Bank of America lowered their price target on shares of Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $192.00.

Insider Transactions at Nucor

In related news, EVP Daniel R. Needham sold 8,624 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the transaction, the executive vice president now directly owns 99,049 shares of the company’s stock, valued at approximately $15,847,840. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.46% of the company’s stock.

Nucor Stock Performance

Shares of NUE opened at $148.11 on Wednesday. Nucor Co. has a 12-month low of $133.42 and a 12-month high of $203.00. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26. The company has a market cap of $35.51 billion, a PE ratio of 8.71 and a beta of 1.55. The stock has a 50-day moving average price of $147.20 and a 200-day moving average price of $163.02.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.37. The business had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $7.69 billion. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The business’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.81 EPS. As a group, equities analysts forecast that Nucor Co. will post 9.28 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Friday, September 27th. Nucor’s dividend payout ratio (DPR) is currently 12.71%.

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.