Nucor Co. (NYSE:NUE) Shares Purchased by Bank of Montreal Can

Bank of Montreal Can lifted its stake in Nucor Co. (NYSE:NUEGet Rating) by 41.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 235,593 shares of the basic materials company’s stock after purchasing an additional 69,181 shares during the period. Bank of Montreal Can owned approximately 0.09% of Nucor worth $26,779,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NUE. Woodard & Co. Asset Management Group Inc. ADV raised its position in Nucor by 3.5% during the first quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 2,385 shares of the basic materials company’s stock worth $355,000 after acquiring an additional 80 shares during the last quarter. Mirador Capital Partners LP raised its position in Nucor by 1.3% during the first quarter. Mirador Capital Partners LP now owns 6,668 shares of the basic materials company’s stock worth $991,000 after acquiring an additional 84 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in Nucor by 24.4% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 433 shares of the basic materials company’s stock worth $45,000 after acquiring an additional 85 shares during the last quarter. Alerus Financial NA raised its position in Nucor by 2.4% during the first quarter. Alerus Financial NA now owns 3,685 shares of the basic materials company’s stock worth $548,000 after acquiring an additional 88 shares during the last quarter. Finally, Atlas Capital Advisors LLC raised its position in Nucor by 2.9% during the first quarter. Atlas Capital Advisors LLC now owns 3,169 shares of the basic materials company’s stock worth $471,000 after acquiring an additional 89 shares during the last quarter. Institutional investors and hedge funds own 79.07% of the company’s stock.

Nucor Price Performance

Nucor stock opened at $142.03 on Monday. Nucor Co. has a 1 year low of $88.50 and a 1 year high of $187.90. The firm has a 50 day moving average price of $125.10 and a 200 day moving average price of $125.47. The company has a market cap of $36.44 billion, a price-to-earnings ratio of 4.46 and a beta of 1.48. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.79 and a current ratio of 3.10.

Nucor (NYSE:NUEGet Rating) last released its earnings results on Thursday, October 20th. The basic materials company reported $6.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.45 by $0.05. Nucor had a net margin of 19.93% and a return on equity of 51.03%. The firm had revenue of $10.50 billion during the quarter, compared to the consensus estimate of $10.43 billion. During the same period in the previous year, the firm earned $7.28 earnings per share. Nucor’s revenue was up 1.8% compared to the same quarter last year. Sell-side analysts predict that Nucor Co. will post 29.84 earnings per share for the current year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Friday, September 30th were paid a dividend of $0.50 per share. The ex-dividend date was Thursday, September 29th. This represents a $2.00 annualized dividend and a yield of 1.41%. Nucor’s dividend payout ratio is currently 6.29%.

Insiders Place Their Bets

In other Nucor news, EVP Gregory J. Murphy sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $137.29, for a total transaction of $411,870.00. Following the completion of the sale, the executive vice president now directly owns 49,549 shares in the company, valued at $6,802,582.21. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Nucor news, EVP Gregory J. Murphy sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $137.29, for a total transaction of $411,870.00. Following the completion of the sale, the executive vice president now directly owns 49,549 shares in the company, valued at $6,802,582.21. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP John J. Hollatz sold 2,450 shares of the business’s stock in a transaction that occurred on Monday, October 24th. The stock was sold at an average price of $134.40, for a total transaction of $329,280.00. Following the sale, the executive vice president now owns 52,282 shares of the company’s stock, valued at $7,026,700.80. The disclosure for this sale can be found here. 0.46% of the stock is owned by insiders.

Analysts Set New Price Targets

NUE has been the subject of a number of analyst reports. Citigroup boosted their price objective on shares of Nucor to $145.00 in a research report on Tuesday, September 13th. Morgan Stanley cut their price objective on shares of Nucor from $115.00 to $113.00 and set an “equal weight” rating for the company in a research report on Monday, October 24th. StockNews.com initiated coverage on shares of Nucor in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. The Goldman Sachs Group cut their price objective on shares of Nucor from $127.00 to $114.00 and set a “neutral” rating for the company in a research report on Thursday, October 6th. Finally, Credit Suisse Group cut their price objective on shares of Nucor from $165.00 to $140.00 and set an “outperform” rating for the company in a research report on Friday, September 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $132.33.

Nucor Profile

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Nucor Corporation manufactures and sells steel and steel products. The company's 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 products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.

See Also

Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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