Nucor Co. (NYSE:NUE) Stock Holdings Decreased by Kentucky Retirement Systems

Kentucky Retirement Systems lowered its position in shares of Nucor Co. (NYSE:NUE) by 3.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,068 shares of the basic materials company’s stock after selling 602 shares during the quarter. Kentucky Retirement Systems’ holdings in Nucor were worth $2,856,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in NUE. McClarren Financial Advisors Inc. boosted its stake in shares of Nucor by 129.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after buying an additional 89 shares during the period. Rise Advisors LLC acquired a new stake in Nucor during the first quarter valued at $27,000. Chilton Capital Management LLC grew its stake in Nucor by 94.2% in the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 65 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in Nucor in the 1st quarter worth about $28,000. Finally, Tompkins Financial Corp raised its stake in shares of Nucor by 208.0% during the 1st quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Transactions at Nucor

In related news, EVP Daniel R. Needham sold 8,624 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total value of $1,379,840.00. Following the completion of the sale, the executive vice president now owns 99,049 shares in the company, valued at $15,847,840. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

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

Nucor Trading Down 1.8 %

Shares of NYSE:NUE opened at $146.31 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.85 and a current ratio of 2.93. The stock’s 50-day moving average is $149.66 and its 200-day moving average is $166.15. The company has a market cap of $35.08 billion, a P/E ratio of 8.61 and a beta of 1.55. Nucor Co. has a 52-week low of $133.42 and a 52-week high of $203.00.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, topping the consensus estimate of $2.31 by $0.37. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The company had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $7.69 billion. During the same period in the previous year, the business posted $5.81 EPS. The company’s revenue for the quarter was down 15.2% on a year-over-year basis. Equities research analysts predict that Nucor Co. will post 9.95 earnings per share for the current year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be given a $0.54 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.16 annualized dividend and a yield of 1.48%. Nucor’s dividend payout ratio is 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.