5,299 Shares of Nucor Corporation $NUE Acquired by NBT Bank N.A.

NBT Bank N.A. bought a new stake in shares of Nucor Corporation (NYSE:NUE) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,299 shares of the basic materials company’s stock, valued at approximately $1,239,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Transamerica Financial Advisors LLC bought a new position in shares of Nucor in the second quarter valued at approximately $25,000. GK Wealth Management LLC purchased a new position in Nucor during the third quarter valued at approximately $28,000. Manning & Napier Advisors LLC purchased a new position in Nucor during the second quarter valued at approximately $27,000. Bell Investment Advisors Inc bought a new stake in Nucor during the 2nd quarter worth approximately $28,000. Finally, Markowski Investments bought a new stake in Nucor during the 2nd quarter worth approximately $29,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Stock Up 0.1%

Shares of NYSE NUE opened at $258.23 on Friday. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average of $252.58 and a 200-day moving average of $241.17. The firm has a market capitalization of $58.59 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 0.63 and a beta of 1.84. Nucor Corporation has a 12 month low of $138.34 and a 12 month high of $280.11.

Nucor (NYSE:NUE) last announced its earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share for the quarter, beating analysts’ consensus estimates of $4.46 by $0.38. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The business had revenue of $10.40 billion for the quarter, compared to the consensus estimate of $10.15 billion. During the same period last year, the firm posted $2.60 earnings per share. Nucor’s quarterly revenue was up 23.0% on a year-over-year basis. Sell-side analysts expect that Nucor Corporation will post 19.62 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 10th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.56 per share. The ex-dividend date is Wednesday, September 30th. This represents a $2.24 annualized dividend and a dividend yield of 0.9%. Nucor’s dividend payout ratio (DPR) is 17.86%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Weiss Ratings upgraded shares of Nucor from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 15th. Wall Street Zen upgraded shares of Nucor from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. JPMorgan Chase & Co. reduced their price target on shares of Nucor from $308.00 to $296.00 and set an “overweight” rating for the company in a research report on Friday, October 9th. Citigroup reaffirmed a “buy” rating on shares of Nucor in a report on Wednesday, July 29th. Finally, BMO Capital Markets increased their price objective on Nucor from $285.00 to $295.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $276.86.

Insider Buying and Selling at Nucor

In other news, COO Stephen Laxton sold 3,968 shares of Nucor stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the completion of the sale, the chief operating officer directly owned 77,867 shares of the company’s stock, valued at approximately $20,008,704.32. The trade was a 4.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thomas Batterbee sold 4,000 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the completion of the transaction, the executive vice president owned 16,138 shares of the company’s stock, valued at $4,212,340.76. This trade represents a 19.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.62% of the company’s stock.

About Nucor

Nucor Corporation is a steel producer headquartered in Charlotte, North Carolina. Through its operating subsidiaries, the company manufactures steel and steel products for customers in construction, automotive, energy, heavy equipment, transportation and other industrial markets.

Nucor’s operations include electric arc furnace steel mills, which produce carbon, alloy and galvanized steel products. Its product portfolio includes sheet steel, plate, beams, bars, wire and wire mesh, steel joists, deck, piling, fabricated concrete reinforcing steel and other downstream products.