Central Bank & Trust Co. Sells 3,921 Shares of Nucor Co. (NYSE:NUE)

Central Bank & Trust Co. cut its holdings in shares of Nucor Co. (NYSE:NUE) by 9.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,566 shares of the basic materials company’s stock after selling 3,921 shares during the period. Central Bank & Trust Co.’s holdings in Nucor were worth $5,798,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of NUE. Dimensional Fund Advisors LP grew its holdings in shares of Nucor by 2.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,909,388 shares of the basic materials company’s stock worth $617,915,000 after buying an additional 84,558 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Nucor by 29.7% in the second quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock valued at $456,030,000 after purchasing an additional 660,866 shares during the period. Legal & General Group Plc grew its position in shares of Nucor by 3.2% in the second quarter. Legal & General Group Plc now owns 2,160,803 shares of the basic materials company’s stock valued at $341,580,000 after purchasing an additional 67,974 shares during the last quarter. Hsbc Holdings PLC increased its position in Nucor by 11.6% during the 2nd quarter. Hsbc Holdings PLC now owns 1,069,920 shares of the basic materials company’s stock worth $169,433,000 after buying an additional 111,177 shares during the period. Finally, ProShare Advisors LLC raised its stake in Nucor by 2.8% in the 2nd quarter. ProShare Advisors LLC now owns 1,055,632 shares of the basic materials company’s stock worth $166,874,000 after purchasing an additional 28,384 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Nucor

In other news, EVP Kenneth Rex Query sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the sale, the executive vice president now owns 98,770 shares of the company’s stock, valued at $14,499,436. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.64% of the stock is owned by company insiders.

Nucor Stock Performance

Shares of Nucor stock opened at $142.60 on Tuesday. The company has a market cap of $33.84 billion, a PE ratio of 13.78 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 business has a 50 day moving average price of $147.40 and a 200-day moving average price of $156.20.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share (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 net margin of 8.05% and a return on equity of 12.06%. The firm’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.57 EPS. Equities analysts anticipate that Nucor Co. will post 8.65 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business 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 $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Friday, September 27th. Nucor’s dividend payout ratio is 20.87%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NUE. BMO Capital Markets reduced their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday, September 18th. JPMorgan Chase & Co. reduced their price target on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Argus raised Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Finally, Morgan Stanley lowered their target price on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Three investment 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.