5,299 Shares in Nucor Corporation $NUE Acquired by NBT Bank N.A.

NBT Bank N.A. purchased a new position in shares of Nucor Corporation (NYSE:NUE) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,299 shares of the basic materials company’s stock, valued at approximately $1,239,000.

Other hedge funds have also recently made changes to their positions in the company. California Public Employees Retirement System grew its stake in shares of Nucor by 19.3% during the first quarter. California Public Employees Retirement System now owns 510,331 shares of the basic materials company’s stock valued at $86,297,000 after buying an additional 82,668 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of Nucor by 31.2% in the 2nd quarter. Tidal Investments LLC now owns 61,952 shares of the basic materials company’s stock valued at $13,800,000 after acquiring an additional 14,736 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Nucor in the 2nd quarter valued at about $7,954,000. BIP Wealth LLC bought a new stake in shares of Nucor in the 2nd quarter valued at about $852,000. Finally, Bank of New York Mellon Corp boosted its holdings in Nucor by 1.7% during the 1st quarter. Bank of New York Mellon Corp now owns 1,809,899 shares of the basic materials company’s stock valued at $306,054,000 after acquiring an additional 29,476 shares during the period. 76.48% of the stock is currently owned by institutional investors.

Insider Activity at Nucor

In related news, EVP Thomas J. Batterbee sold 4,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $261.02, for a total value of $1,044,080.00. Following the completion of the sale, the executive vice president owned 16,138 shares of the company’s stock, valued at $4,212,340.76. This trade represents a 19.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Stephen D. Laxton sold 3,968 shares of Nucor stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the completion of the sale, the chief operating officer owned 77,867 shares in the company, valued at approximately $20,008,704.32. This trade represents a 4.85% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.62% of the stock is currently owned by insiders.

Nucor Stock Performance

Shares of NYSE:NUE opened at $258.23 on Friday. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. The company has a market cap of $58.59 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 0.63 and a beta of 1.84. Nucor Corporation has a 12 month low of $138.34 and a 12 month high of $280.11. The company has a 50-day moving average price of $252.58 and a 200-day moving average price of $241.17.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.46 by $0.38. The company had revenue of $10.40 billion for the quarter, compared to the consensus estimate of $10.15 billion. Nucor had a return on equity of 12.73% and a net margin of 7.99%. Nucor’s revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.60 EPS. As a group, equities analysts anticipate that Nucor Corporation will post 19.62 EPS for the current year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 10th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.24 annualized dividend and a dividend yield of 0.9%. Nucor’s payout ratio is 17.86%.

Wall Street Analyst Weigh In

NUE has been the topic of several recent research reports. Wall Street Zen upgraded Nucor from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. JPMorgan Chase & Co. decreased their price target on Nucor from $308.00 to $296.00 and set an “overweight” rating on the stock in a research note on Friday, October 9th. Freedom Broker lowered Nucor from a “buy” rating to a “hold” rating and dropped their price objective for the company from $305.00 to $285.00 in a research note on Friday, September 18th. BMO Capital Markets raised their target price on shares of Nucor from $285.00 to $295.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Finally, The Goldman Sachs Group cut their target price on shares of Nucor from $304.00 to $302.00 and set a “buy” rating on the stock in a report on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $276.86.

About Nucor

Nucor Corporation is a steel producer headquartered in Charlotte, North Carolina. Through its operating subsidiaries, the company manufactures steel and steel products for customers in construction, automotive, energy, heavy equipment, transportation and other industrial markets.

Nucor’s operations include electric arc furnace steel mills, which produce carbon, alloy and galvanized steel products. Its product portfolio includes sheet steel, plate, beams, bars, wire and wire mesh, steel joists, deck, piling, fabricated concrete reinforcing steel and other downstream products.