Kentucky Retirement Systems Has $2.86 Million Stock Holdings in Nucor Co. (NYSE:NUE)

Kentucky Retirement Systems trimmed its holdings in shares of Nucor Co. (NYSE:NUE) by 3.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 18,068 shares of the basic materials company’s stock after selling 602 shares during the period. Kentucky Retirement Systems’ holdings in Nucor were worth $2,856,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in NUE. Seven Eight Capital LP raised its stake in Nucor by 146.8% during the second quarter. Seven Eight Capital LP now owns 7,941 shares of the basic materials company’s stock worth $1,255,000 after acquiring an additional 4,724 shares in the last quarter. Hsbc Holdings PLC boosted its position in Nucor by 11.6% in the second quarter. Hsbc Holdings PLC now owns 1,069,920 shares of the basic materials company’s stock valued at $169,433,000 after buying an additional 111,177 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Nucor by 13.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 31,652 shares of the basic materials company’s stock worth $4,992,000 after buying an additional 3,747 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Nucor by 1.8% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 24,504 shares of the basic materials company’s stock valued at $3,874,000 after acquiring an additional 436 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in shares of Nucor by 5.6% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 108,428 shares of the basic materials company’s stock worth $17,129,000 after acquiring an additional 5,763 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Bank of America dropped their price target on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. JPMorgan Chase & Co. upgraded shares of Nucor from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $170.00 to $174.00 in a research report on Monday, September 9th. BMO Capital Markets lowered their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research report on Wednesday. Argus upgraded shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Finally, Morgan Stanley lowered their price target on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Nucor currently has a consensus rating of “Moderate Buy” and an average price target of $192.00.

Insider Activity

In related news, EVP Daniel R. Needham sold 8,624 shares of Nucor stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the transaction, the executive vice president now owns 99,049 shares of the company’s stock, valued at approximately $15,847,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.46% of the stock is currently owned by company insiders.

Nucor Trading Down 1.8 %

NUE opened at $146.31 on Friday. The firm has a 50 day simple moving average of $149.66 and a 200 day simple moving average of $166.15. Nucor Co. has a fifty-two week low of $133.42 and a fifty-two week high of $203.00. The company has a market cap of $35.08 billion, a price-to-earnings ratio of 8.61 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85.

Nucor (NYSE:NUE) last issued its earnings results on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, beating the consensus estimate of $2.31 by $0.37. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The company had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $7.69 billion. During the same quarter in the previous year, the company posted $5.81 EPS. The business’s revenue for the quarter was down 15.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Nucor Co. will post 9.95 earnings per share for the current year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.48%. Nucor’s payout ratio is currently 12.71%.

Nucor 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.