Community Bank of Raymore Sells 270 Shares of Nucor Corporation $NUE

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

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Diamond Hill Capital Management Inc. bought a new position in Nucor in the 1st quarter worth $194,804,000. Nuveen LLC purchased a new position in shares of Nucor in the first quarter valued at about $141,216,000. Vanguard Group Inc. boosted its stake in shares of Nucor by 2.6% in the first quarter. Vanguard Group Inc. now owns 28,959,327 shares of the basic materials company’s stock worth $3,484,965,000 after acquiring an additional 745,671 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Nucor by 355.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 539,310 shares of the basic materials company’s stock worth $72,327,000 after purchasing an additional 420,970 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Nucor by 18.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,309,452 shares of the basic materials company’s stock valued at $277,920,000 after purchasing an additional 355,364 shares during the period. 76.48% of the stock is currently owned by institutional investors.

Nucor Stock Performance

Shares of NYSE:NUE opened at $131.70 on Monday. The firm has a fifty day simple moving average of $140.92 and a two-hundred day simple moving average of $129.90. Nucor Corporation has a 52 week low of $97.59 and a 52 week high of $170.52. The company has a quick ratio of 1.51, a current ratio of 2.83 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $30.23 billion, a P/E ratio of 23.77, a PEG ratio of 0.94 and a beta of 1.75.

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

Nucor Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Jefferies Financial Group upgraded Nucor from a “hold” rating to a “buy” rating and upped their price target for the stock from $135.00 to $170.00 in a research note on Thursday, July 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Nucor in a report on Wednesday, October 8th. Bank of America upped their target price on shares of Nucor from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Wells Fargo & Company reduced their price target on shares of Nucor from $146.00 to $140.00 and set an “equal weight” rating on the stock in a report on Thursday, September 18th. Finally, The Goldman Sachs Group decreased their price target on shares of Nucor from $182.00 to $173.00 and set a “buy” rating on the stock in a research note on Monday, September 22nd. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $157.60.

Insider Buying and Selling

In other Nucor news, insider Michael D. Keller sold 6,088 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $148.41, for a total transaction of $903,520.08. Following the transaction, the insider owned 22,464 shares in the company, valued at $3,333,882.24. The trade was a 21.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Daniel R. Needham sold 7,200 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $146.00, for a total transaction of $1,051,200.00. Following the completion of the sale, the executive vice president owned 92,179 shares of the company’s stock, valued at $13,458,134. This trade represents a 7.24% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,309 shares of company stock worth $4,553,771. 0.71% of the stock is currently owned by corporate insiders.

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.