Nucor Co. (NYSE:NUE) Stock Holdings Lessened by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in shares of Nucor Co. (NYSE:NUE - Free Report) by 9.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 285,415 shares of the basic materials company's stock after selling 31,173 shares during the period. Principal Financial Group Inc. owned 0.12% of Nucor worth $42,909,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. McClarren Financial Advisors Inc. grew its holdings in 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 buying an additional 89 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Nucor in the third quarter valued at approximately $26,000. Coastline Trust Co acquired a new position in Nucor during the third quarter worth approximately $29,000. Brown Lisle Cummings Inc. purchased a new position in Nucor during the third quarter worth approximately $30,000. Finally, HHM Wealth Advisors LLC boosted its holdings in shares of Nucor by 769.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company's stock valued at $36,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company's stock.

Nucor Stock Up 0.0 %

NYSE:NUE traded up $0.03 during trading hours on Monday, hitting $116.61. The stock had a trading volume of 1,668,620 shares, compared to its average volume of 1,635,125. The business has a 50 day simple moving average of $145.93 and a two-hundred day simple moving average of $149.67. Nucor Co. has a 1-year low of $113.94 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. The company has a market cap of $27.38 billion, a PE ratio of 11.27 and a beta of 1.55.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly 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 for 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.57 EPS. Analysts predict that Nucor Co. will post 8.48 EPS for the current year.

Nucor Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Nucor's previous quarterly dividend of $0.54. Nucor's dividend payout ratio (DPR) is 21.26%.

Analyst Upgrades and Downgrades

NUE has been the subject of a number of research analyst reports. UBS Group restated a "neutral" rating and set a $156.00 price objective (down from $171.00) on shares of Nucor in a report on Thursday, December 12th. Morgan Stanley cut their price objective on Nucor from $170.00 to $166.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. The Goldman Sachs Group assumed coverage on Nucor in a report on Monday, December 2nd. They set a "buy" rating and a $190.00 target price for the company. JPMorgan Chase & Co. cut their price target on shares of Nucor from $170.00 to $168.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. Finally, Argus raised shares of Nucor to a "strong-buy" rating in a research report on Monday, August 26th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Nucor presently has an average rating of "Moderate Buy" and an average price target of $173.75.

Insiders Place Their Bets

In related news, EVP Kenneth Rex Query sold 9,000 shares of the business's stock in a transaction dated Tuesday, October 29th. The stock was 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 directly owns 98,770 shares of the company's stock, valued at $14,499,436. The trade was a 8.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Leon J. Topalian sold 11,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total value of $1,860,210.00. Following the transaction, the chief executive officer now directly owns 172,136 shares in the company, valued at approximately $29,109,918.96. This represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,680 shares of company stock worth $4,773,724 in the last three months. 0.46% of the stock is owned by insiders.

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.