Kentucky Retirement Systems Trims Stake in Nucor Co. (NYSE:NUE)

Kentucky Retirement Systems trimmed its position in Nucor Co. (NYSE:NUE) by 5.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 18,670 shares of the basic materials company’s stock after selling 1,000 shares during the quarter. Kentucky Retirement Systems’ holdings in Nucor were worth $3,695,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rise Advisors LLC purchased a new stake in Nucor in the first quarter worth about $27,000. Chilton Capital Management LLC raised its holdings in shares of Nucor by 94.2% in the 1st quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 65 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Nucor in the 1st quarter worth approximately $28,000. Criterion Capital Advisors LLC purchased a new stake in shares of Nucor in the 4th quarter worth approximately $25,000. Finally, Tompkins Financial Corp boosted its stake in shares of Nucor by 208.0% during the first quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 104 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Stock Up 2.5 %

NYSE:NUE traded up $3.87 during mid-day trading on Friday, hitting $160.89. 1,252,823 shares of the company’s stock traded hands, compared to its average volume of 1,532,657. The company has a fifty day moving average of $160.47 and a 200 day moving average of $175.64. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.48 and a current ratio of 2.93. Nucor Co. has a twelve month low of $140.07 and a twelve month high of $203.00. The company has a market capitalization of $38.57 billion, a P/E ratio of 9.46 and a beta of 1.57.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.37. The firm had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $7.69 billion. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The company’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.81 earnings per share. On average, analysts forecast that Nucor Co. will post 10.64 EPS for the current year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.16 annualized dividend and a dividend yield of 1.34%. Nucor’s payout ratio is currently 12.71%.

Analyst Ratings Changes

A number of equities analysts recently commented on NUE shares. StockNews.com downgraded shares of Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. reduced their price target on Nucor from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Tuesday, July 16th. Jefferies Financial Group initiated coverage on Nucor in a research report on Monday, May 20th. They set a “hold” rating and a $190.00 price objective on the stock. BMO Capital Markets cut their target price on Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a research note on Monday, June 17th. Finally, Bank of America decreased their price target on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $191.29.

Nucor Company 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.