Community Bank of Raymore Trims Stake in Nucor Corporation $NUE

Community Bank of Raymore lowered its position in Nucor Corporation (NYSE:NUE) by 5.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,750 shares of the basic materials company’s stock after selling 270 shares during the period. Community Bank of Raymore’s holdings in Nucor were worth $615,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in NUE. Matrix Trust Co boosted its holdings in shares of Nucor by 53.8% during the 2nd quarter. Matrix Trust Co now owns 240 shares of the basic materials company’s stock valued at $31,000 after buying an additional 84 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in Nucor by 81.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 153 shares during the period. Meeder Asset Management Inc. lifted its position in Nucor by 209.6% during the 1st quarter. Meeder Asset Management Inc. now owns 418 shares of the basic materials company’s stock valued at $50,000 after acquiring an additional 283 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Nucor by 49.8% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 442 shares of the basic materials company’s stock worth $57,000 after acquiring an additional 147 shares in the last quarter. Finally, Proathlete Wealth Management LLC purchased a new stake in Nucor in the second quarter worth about $58,000. 76.48% of the stock is currently owned by institutional investors.

Nucor Stock Down 0.7%

Nucor stock opened at $131.70 on Monday. Nucor Corporation has a 12 month low of $97.59 and a 12 month high of $170.52. The stock has a fifty day simple moving average of $140.92 and a two-hundred day simple moving average of $129.90. The company has a current ratio of 2.83, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31. The firm has a market cap of $30.23 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 0.94 and a beta of 1.75.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, July 28th. The basic materials company reported $2.60 EPS for the quarter, beating the consensus estimate of $2.54 by $0.06. Nucor had a return on equity of 6.65% and a net margin of 4.21%.The company had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.47 billion. During the same period last year, the firm posted $2.68 earnings per share. Nucor’s revenue was up 4.7% compared to the same quarter last year. Equities analysts predict that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be given a dividend of $0.55 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.20 dividend on an annualized basis and a yield of 1.7%. Nucor’s dividend payout ratio is 39.71%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NUE shares. The Goldman Sachs Group lowered their target price on shares of Nucor from $182.00 to $173.00 and set a “buy” rating for the company in a report on Monday, September 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Nucor in a research note on Wednesday, October 8th. Bank of America boosted their target price on Nucor from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Wells Fargo & Company cut their target price on Nucor from $146.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 18th. Finally, Jefferies Financial Group raised Nucor from a “hold” rating to a “buy” rating and lifted their price target for the stock from $135.00 to $170.00 in a research report on Thursday, July 31st. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $157.60.

Insider Activity at Nucor

In related news, EVP Kenneth Rex Query sold 10,000 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $144.90, for a total transaction of $1,449,000.00. Following the completion of the sale, the executive vice president owned 84,080 shares in the company, valued at approximately $12,183,192. This represents a 10.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Allen C. Behr sold 8,021 shares of the firm’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $143.38, for a total value of $1,150,050.98. Following the completion of the transaction, the executive vice president directly owned 82,703 shares in the company, valued at $11,857,956.14. The trade was a 8.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,309 shares of company stock worth $4,553,771. Company insiders own 0.71% of the company’s stock.

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.