Nucor Co. (NYSE:NUE) Stock Holdings Lessened by Heartland Bank & Trust Co

Heartland Bank & Trust Co lowered its position in Nucor Co. (NYSE:NUE) by 3.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,462 shares of the basic materials company’s stock after selling 91 shares during the period. Heartland Bank & Trust Co’s holdings in Nucor were worth $370,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. CX Institutional increased its holdings in Nucor by 52.8% in the second quarter. CX Institutional now owns 17,245 shares of the basic materials company’s stock worth $2,726,000 after buying an additional 5,960 shares during the last quarter. Norden Group LLC acquired a new position in Nucor in the first quarter worth approximately $1,847,000. Banco Santander S.A. increased its holdings in Nucor by 86.2% in the first quarter. Banco Santander S.A. now owns 12,895 shares of the basic materials company’s stock worth $2,552,000 after buying an additional 5,971 shares during the last quarter. Ascension Asset Management LLC acquired a new position in Nucor in the second quarter worth approximately $885,000. Finally, Kimelman & Baird LLC acquired a new position in Nucor during the second quarter valued at approximately $6,655,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Analysts Set New Price Targets

NUE has been the topic of several analyst reports. Morgan Stanley lowered their price target on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a report on Wednesday. BMO Capital Markets lowered their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday, September 18th. Argus upgraded Nucor to a “strong-buy” rating in a report on Monday, August 26th. 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 report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. lowered their price target on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a report on Wednesday. Three investment 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. Based on data from MarketBeat.com, Nucor has an average rating of “Moderate Buy” and a consensus price target of $190.57.

Insider Buying and Selling

In related news, EVP Daniel R. Needham sold 8,624 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total value of $1,379,840.00. Following the completion of the transaction, the executive vice president now directly owns 99,049 shares of the company’s stock, valued at $15,847,840. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is owned by company insiders.

Nucor Trading Down 3.0 %

Shares of Nucor stock opened at $141.66 on Thursday. The company’s fifty day simple moving average is $147.81 and its 200-day simple moving average is $159.39. The company has a market cap of $33.96 billion, a price-to-earnings ratio of 8.33 and a beta of 1.55. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00.

Nucor (NYSE:NUE) last issued its earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.40 by $0.09. The firm had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.28 billion. Nucor had a return on equity of 15.69% and a net margin of 10.45%. Nucor’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same period last year, the business earned $4.57 earnings per share. As a group, sell-side analysts expect that Nucor Co. will post 9.08 EPS for the current year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors 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 1.52%. Nucor’s dividend payout ratio (DPR) is currently 12.71%.

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.