Bokf Na Has $2.25 Million Stock Position in Nucor Co. (NYSE:NUE)

Bokf Na lowered its stake in Nucor Co. (NYSE:NUE) by 2.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,222 shares of the basic materials company’s stock after selling 404 shares during the quarter. Bokf Na’s holdings in Nucor were worth $2,248,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of NUE. Achmea Investment Management B.V. increased its position in Nucor by 2.5% during the second quarter. Achmea Investment Management B.V. now owns 82,795 shares of the basic materials company’s stock worth $13,088,000 after buying an additional 2,028 shares during the last quarter. Forsta AP Fonden increased its position in Nucor by 4.1% during the second quarter. Forsta AP Fonden now owns 70,300 shares of the basic materials company’s stock worth $11,113,000 after buying an additional 2,800 shares during the last quarter. Qsemble Capital Management LP acquired a new position in Nucor during the second quarter worth approximately $1,712,000. HHM Wealth Advisors LLC increased its position in Nucor by 769.2% during the second quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock worth $36,000 after buying an additional 200 shares during the last quarter. Finally, Headlands Technologies LLC increased its position in Nucor by 165.8% during the second quarter. Headlands Technologies LLC now owns 707 shares of the basic materials company’s stock worth $112,000 after buying an additional 441 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the completion of the transaction, the executive vice president now directly owns 99,049 shares in the company, valued at $15,847,840. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on NUE. Bank of America lowered their price target on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. JPMorgan Chase & Co. upgraded Nucor from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $170.00 to $174.00 in a report on Monday, September 9th. BMO Capital Markets reduced their price objective on Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a report on Monday, June 17th. Argus upgraded Nucor to a “strong-buy” rating in a report on Monday, August 26th. Finally, Morgan Stanley upgraded Nucor from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $187.00 to $176.00 in a report on Thursday, August 15th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Nucor has an average rating of “Moderate Buy” and a consensus price target of $195.00.

Nucor Trading Up 2.1 %

Shares of NUE stock opened at $143.59 on Friday. 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 stock has a market cap of $34.08 billion, a P/E ratio of 8.45 and a beta of 1.55. The stock has a 50 day simple moving average of $150.71 and a 200 day simple moving average of $167.58. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 15.69% and a net margin of 10.45%. The firm’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same period in the previous year, the company posted $5.81 earnings per share. On average, research analysts predict that Nucor Co. will post 9.95 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be given a dividend of $0.54 per share. The ex-dividend date is Friday, September 27th. This represents a $2.16 annualized dividend and a yield of 1.50%. Nucor’s dividend payout ratio is currently 12.71%.

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.