Community Bank N.A. Trims Stake in Nucor Corporation (NYSE:NUE)

Community Bank N.A. decreased its stake in shares of Nucor Corporation (NYSE:NUE) by 0.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 34,252 shares of the basic materials company’s stock after selling 200 shares during the quarter. Community Bank N.A.’s holdings in Nucor were worth $4,122,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of NUE. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Nucor in the fourth quarter valued at $25,000. Putney Financial Group LLC purchased a new stake in Nucor during the 4th quarter worth about $29,000. MV Capital Management Inc. raised its stake in Nucor by 73.5% in the 1st quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 119 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new position in Nucor in the 4th quarter valued at about $41,000. Finally, Park Square Financial Group LLC acquired a new stake in shares of Nucor during the 4th quarter worth about $48,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Stock Up 0.5%

Shares of NYSE NUE opened at $122.28 on Wednesday. The stock has a market capitalization of $28.22 billion, a PE ratio of 21.76, a P/E/G ratio of 0.77 and a beta of 1.67. The company has a quick ratio of 1.48, a current ratio of 2.52 and a debt-to-equity ratio of 0.32. The firm has a fifty day moving average of $115.51 and a 200-day moving average of $123.13. Nucor Corporation has a 52-week low of $97.59 and a 52-week high of $170.52.

Nucor (NYSE:NUE) last issued its 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). Nucor had a net margin of 4.40% and a return on equity of 6.82%. The firm had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.25 billion. During the same quarter in the previous year, the business posted $3.46 EPS. Nucor’s revenue was down 3.8% compared to the same quarter last year. On average, analysts anticipate that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Monday, June 30th. Nucor’s dividend payout ratio is currently 39.15%.

Insider Transactions at Nucor

In related news, CEO Leon J. Topalian sold 34,238 shares of the firm’s stock in a transaction that occurred on 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 transaction, 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 filing with the SEC, which is accessible through the SEC website. Company insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NUE. JPMorgan Chase & Co. decreased their target price on shares of Nucor from $156.00 to $140.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Argus set a $155.00 price target on Nucor in a research note on Wednesday, March 5th. BMO Capital Markets raised Nucor from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $140.00 to $145.00 in a research report on Monday, June 2nd. UBS Group dropped their target price on Nucor from $153.00 to $147.00 and set a “buy” rating for the company in a research note on Thursday, May 29th. Finally, Morgan Stanley set a $164.00 price target on Nucor in a research note on Monday, March 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Nucor has an average rating of “Moderate Buy” and a consensus price target of $157.22.

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.