Nucor Corporation $NUE Shares Newly Purchased by First Nebraska Trust Co

First Nebraska Trust Co bought a new stake in shares of Nucor Corporation (NYSE:NUE) during the 3rd quarter, HoldingsChannel reports. The firm bought 79,166 shares of the basic materials company’s stock, valued at approximately $18,505,000. Nucor makes up 1.5% of First Nebraska Trust Co’s portfolio, making the stock its 15th largest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cantor Fitzgerald Investment Advisors L.P. grew its position in Nucor by 0.5% in the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 8,091 shares of the basic materials company’s stock valued at $1,891,000 after acquiring an additional 40 shares in the last quarter. Signature Equity Partners LLC lifted its position in shares of Nucor by 34.1% during the third quarter. Signature Equity Partners LLC now owns 165 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 42 shares in the last quarter. Venture Visionary Partners LLC lifted its position in shares of Nucor by 2.4% during the third quarter. Venture Visionary Partners LLC now owns 1,932 shares of the basic materials company’s stock worth $452,000 after purchasing an additional 46 shares in the last quarter. Smith Thornton Advisors LLC boosted its stake in shares of Nucor by 3.1% in the third quarter. Smith Thornton Advisors LLC now owns 1,545 shares of the basic materials company’s stock valued at $361,000 after purchasing an additional 47 shares during the period. Finally, Focus Financial Network Inc. boosted its stake in shares of Nucor by 3.6% in the second quarter. Focus Financial Network Inc. now owns 1,417 shares of the basic materials company’s stock valued at $316,000 after purchasing an additional 49 shares during the period. 76.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NUE has been the topic of several analyst reports. BMO Capital Markets lifted their price target on shares of Nucor from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Zacks Research raised shares of Nucor from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 13th. Barclays raised their target price on Nucor from $306.00 to $320.00 and gave the company an “overweight” rating in a research note on Wednesday, October 28th. UBS Group lifted their target price on Nucor from $224.00 to $256.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $335.00 price target on shares of Nucor in a research note on Wednesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $286.44.

More Nucor News

Here are the key news stories impacting Nucor this week:

• Positive Sentiment: Nucor’s third-quarter revenue rose 32% year over year to $11.25 billion, topping estimates, while earnings per share of $5.80 came in just below consensus. Fourth-quarter guidance was described as steady to slightly better than recent results. Article: Nucor Could Be 5% Undervalued After Strong Earnings And Steady Guidance
• Positive Sentiment: A strong balance sheet and cash flow are supporting shareholder returns—reported at $1.36 billion—and leave room for continued investment, buybacks and dividend growth. Article: Can NUE’s Strong Balance Sheet Power Bigger Shareholder Returns Ahead?
• Neutral Sentiment: Despite the quarterly EPS miss, revenue exceeded expectations, and the results point to substantial year-over-year improvement. The mixed beat-and-miss may temper the otherwise positive earnings read-through.
• Negative Sentiment: Two executives recently disclosed stock sales: EVP Allen Behr sold 11,846 shares, reducing his holdings by 16.95%, and Michael Keller sold 1,136 shares, trimming his position by 6.79%. Insider sales can be planned or personal, but may add near-term caution among investors. SEC filing for Allen Behr sale SEC filing for Michael Keller sale

Nucor Trading Down 1.5%

NYSE NUE opened at $273.38 on Wednesday. The company has a market capitalization of $62.03 billion, a price-to-earnings ratio of 17.40, a price-to-earnings-growth ratio of 0.68 and a beta of 1.81. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.43. Nucor Corporation has a 12 month low of $140.93 and a 12 month high of $287.70. The company’s fifty day moving average price is $255.05 and its two-hundred day moving average price is $224.47.

Nucor (NYSE:NUE) last released its earnings results on Monday, October 26th. The basic materials company reported $5.80 earnings per share for the quarter, missing the consensus estimate of $5.84 by ($0.04). The company had revenue of $11.25 billion during the quarter, compared to the consensus estimate of $10.84 billion. Nucor had a return on equity of 15.53% and a net margin of 9.26%. Nucor’s revenue for the quarter was up 32.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.63 EPS. As a group, research analysts predict that Nucor Corporation will post 19.61 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 10th. Investors of record on Wednesday, September 30th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, September 30th. Nucor’s payout ratio is currently 14.26%.

Insider Activity at Nucor

In other Nucor news, EVP Allen C. Behr sold 11,846 shares of the company’s stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $272.90, for a total transaction of $3,232,773.40. Following the sale, the executive vice president owned 58,022 shares in the company, valued at $15,834,203.80. This represents a 16.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael Keller sold 1,136 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $279.33, for a total value of $317,318.88. Following the transaction, the insider directly owned 15,588 shares in the company, valued at approximately $4,354,196.04. This represents a 6.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 18,172 shares of company stock valued at $4,977,498 over the last three months. 0.62% of the stock is owned by insiders.

Nucor Company Profile

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.