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Nucor Corporation (NYSE:NUE) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Nucor logo with Basic Materials background

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in shares of Nucor Corporation (NYSE:NUE - Free Report) by 39.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,820 shares of the basic materials company's stock after selling 4,449 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Nucor were worth $821,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Canal Capital Management LLC grew its holdings in shares of Nucor by 2.5% during the fourth quarter. Canal Capital Management LLC now owns 3,075 shares of the basic materials company's stock worth $359,000 after buying an additional 75 shares in the last quarter. Horrell Capital Management Inc. boosted its position in Nucor by 0.3% during the fourth quarter. Horrell Capital Management Inc. now owns 26,657 shares of the basic materials company's stock worth $3,111,000 after acquiring an additional 76 shares during the last quarter. Highline Wealth Partners LLC grew its stake in Nucor by 2.6% during the 1st quarter. Highline Wealth Partners LLC now owns 3,512 shares of the basic materials company's stock valued at $423,000 after acquiring an additional 90 shares in the last quarter. Diligent Investors LLC grew its stake in Nucor by 4.6% during the 1st quarter. Diligent Investors LLC now owns 2,296 shares of the basic materials company's stock valued at $276,000 after acquiring an additional 102 shares in the last quarter. Finally, King Luther Capital Management Corp raised its holdings in Nucor by 1.0% in the 4th quarter. King Luther Capital Management Corp now owns 10,777 shares of the basic materials company's stock valued at $1,258,000 after acquiring an additional 105 shares during the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NUE. Wall Street Zen cut Nucor from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. Argus set a $155.00 price objective on Nucor in a research note on Wednesday, March 5th. JPMorgan Chase & Co. dropped their target price on Nucor from $156.00 to $140.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Morgan Stanley raised their target price on Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. Finally, BMO Capital Markets raised shares of Nucor from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $140.00 to $145.00 in a research report on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $150.00.

View Our Latest Research Report on Nucor

Insider Transactions at Nucor

In related news, EVP Daniel R. Needham sold 7,088 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $127.87, for a total transaction of $906,342.56. Following the transaction, the executive vice president now owns 99,379 shares of the company's stock, valued at approximately $12,707,592.73. This represents a 6.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Leon J. Topalian sold 34,238 shares of Nucor stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $120.19, for a total value of $4,115,065.22. Following the completion of the transaction, the chief executive officer now directly owns 162,993 shares of the company's stock, valued at approximately $19,590,128.67. This represents a 17.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.46% of the company's stock.

Nucor Trading Up 0.9%

NUE stock traded up $1.14 during midday trading on Friday, hitting $131.75. 2,860,128 shares of the company's stock were exchanged, compared to its average volume of 2,231,595. Nucor Corporation has a 1-year low of $97.59 and a 1-year high of $170.52. The company has a current ratio of 2.52, a quick ratio of 1.48 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $30.40 billion, a PE ratio of 23.44, a P/E/G ratio of 0.83 and a beta of 1.67. The business has a 50-day simple moving average of $117.76 and a two-hundred day simple moving average of $122.25.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The basic materials company reported $0.77 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.15). The business had revenue of $7.83 billion for the quarter, compared to analysts' expectations of $7.25 billion. Nucor had a return on equity of 6.82% and a net margin of 4.40%. The business's revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.46 earnings per share. On average, sell-side analysts predict that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Monday, June 30th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Monday, June 30th. Nucor's dividend payout ratio (DPR) is 39.15%.

Nucor Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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