Nucor Co. (NYSE:NUE) Shares Bought by KBC Group NV

KBC Group NV lifted its position in shares of Nucor Co. (NYSE:NUE - Free Report) by 4.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 268,879 shares of the basic materials company's stock after buying an additional 11,440 shares during the period. KBC Group NV owned about 0.11% of Nucor worth $40,423,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of NUE. McClarren Financial Advisors Inc. increased its stake in shares of Nucor by 129.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 89 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Nucor during the 3rd quarter worth approximately $26,000. Brown Lisle Cummings Inc. acquired a new position in Nucor during the 3rd quarter worth approximately $30,000. HHM Wealth Advisors LLC raised its stake in Nucor by 769.2% during the 2nd 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 period. Finally, Salomon & Ludwin LLC increased its holdings in Nucor by 45.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company's stock worth $35,000 after purchasing an additional 72 shares in the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor Stock Performance

Shares of NYSE NUE traded up $0.70 during midday trading on Friday, reaching $147.08. The company had a trading volume of 1,488,566 shares, compared to its average volume of 1,549,564. The business's 50-day simple moving average is $148.72 and its 200 day simple moving average is $155.16. The stock has a market cap of $34.54 billion, a P/E ratio of 14.16 and a beta of 1.55. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26.

Nucor (NYSE:NUE - Get Free Report) last issued its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (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 net margin of 8.05% and a return on equity of 12.06%. The firm's revenue was down 15.2% compared to the same quarter last year. During the same quarter last year, the company posted $4.57 earnings per share. On average, analysts forecast that Nucor Co. will post 8.52 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Friday, September 27th. Nucor's dividend payout ratio is currently 20.87%.

Insider Buying and Selling at Nucor

In related news, CEO Leon J. Topalian sold 11,000 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the completion of the sale, the chief executive officer now owns 172,136 shares in the company, valued at $29,109,918.96. The trade was a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the sale, the executive vice president now owns 98,770 shares of the company's stock, valued at approximately $14,499,436. This represents a 8.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,680 shares of company stock worth $4,773,724. Corporate insiders own 0.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Nucor from $170.00 to $168.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. Morgan Stanley reduced their price objective on Nucor from $170.00 to $166.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. Argus raised Nucor to a "strong-buy" rating in a research note on Monday, August 26th. Finally, BMO Capital Markets lowered their price objective on shares of Nucor from $175.00 to $160.00 and set a "market perform" rating for the company in a report on Wednesday, September 18th. Three equities 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's stock. According to MarketBeat.com, the stock presently has an average 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.