Kentucky Retirement Systems Insurance Trust Fund Sells 4,449 Shares of Nucor Corporation (NYSE:NUE)

Kentucky Retirement Systems Insurance Trust Fund trimmed its holdings in shares of Nucor Corporation (NYSE:NUE - Free Report) by 39.5% in the first quarter, according to the company in its most recent filing 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.

A number of other large investors have also bought and sold shares of the business. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Nucor in the 4th quarter valued at approximately $25,000. Putney Financial Group LLC bought a new position in Nucor during the 4th quarter worth $29,000. MV Capital Management Inc. increased its position in shares of Nucor by 73.5% in the first quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company's stock worth $34,000 after purchasing an additional 119 shares during the period. Fourth Dimension Wealth LLC bought a new position in Nucor in the fourth quarter valued at about $41,000. Finally, Park Square Financial Group LLC bought a new position in Nucor in the fourth quarter valued at about $48,000. 76.48% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Leon J. Topalian sold 34,238 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $120.19, for a total transaction of $4,115,065.22. Following the completion of the sale, the chief executive officer now owns 162,993 shares in the company, valued at approximately $19,590,128.67. This trade represents a 17.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.71% of the company's stock.

Analysts Set New Price Targets

NUE has been the topic of several recent analyst reports. UBS Group dropped their price target on Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. Wall Street Zen downgraded Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. The Goldman Sachs Group cut their price target on Nucor from $175.00 to $169.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Morgan Stanley increased their price target on Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, Argus set a $155.00 price target on Nucor in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Nucor has a consensus rating of "Moderate Buy" and an average price target of $155.56.

Nucor Stock Up 1.8%

NUE stock traded up $2.28 during midday trading on Tuesday, hitting $128.27. The stock had a trading volume of 2,036,388 shares, compared to its average volume of 2,229,764. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.52 and a quick ratio of 1.48. The business has a 50-day moving average of $116.97 and a two-hundred day moving average of $122.31. Nucor Corporation has a 52-week low of $97.59 and a 52-week high of $170.52. The firm has a market cap of $29.60 billion, a price-to-earnings ratio of 22.82, a price-to-earnings-growth ratio of 0.82 and a beta of 1.67.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The basic materials company reported $0.77 earnings per share (EPS) 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 the consensus estimate of $7.25 billion. Nucor had a net margin of 4.40% and a return on equity of 6.82%. The company's revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $3.46 earnings per share. As a group, equities research analysts forecast that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Monday, June 30th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Monday, June 30th. Nucor's dividend payout ratio (DPR) is presently 39.15%.

About Nucor

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.