KBC Group NV Boosts Stock Holdings in Nucor Co. (NYSE:NUE)

KBC Group NV lifted its stake in Nucor Co. (NYSE:NUE) by 4.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 268,879 shares of the basic materials company’s stock after purchasing an additional 11,440 shares during the period. KBC Group NV owned about 0.11% of Nucor worth $40,423,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GPS Wealth Strategies Group LLC increased its holdings in shares of Nucor by 4.1% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,630 shares of the basic materials company’s stock valued at $258,000 after purchasing an additional 64 shares in the last quarter. Aptus Capital Advisors LLC grew its position in Nucor by 2.1% during the second quarter. Aptus Capital Advisors LLC now owns 3,457 shares of the basic materials company’s stock worth $546,000 after buying an additional 71 shares during the period. Brighton Jones LLC grew its position in Nucor by 3.3% during the second quarter. Brighton Jones LLC now owns 2,218 shares of the basic materials company’s stock worth $351,000 after buying an additional 71 shares during the period. Salomon & Ludwin LLC increased its holdings in Nucor by 45.6% in the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock valued at $35,000 after buying an additional 72 shares in the last quarter. Finally, First Trust Direct Indexing L.P. lifted its position in shares of Nucor by 1.4% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,467 shares of the basic materials company’s stock valued at $822,000 after acquiring an additional 74 shares during the period. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Stock Performance

NYSE:NUE opened at $146.38 on Friday. Nucor Co. has a 1-year low of $133.42 and a 1-year high of $203.00. The firm has a 50 day simple moving average of $148.58 and a 200-day simple moving average of $155.22. The firm has a market cap of $34.37 billion, a PE ratio of 14.14 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.09. The company had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The business’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 $4.57 EPS. On average, equities analysts expect that Nucor Co. will post 8.52 EPS for the current year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, September 27th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.48%. The ex-dividend date was Friday, September 27th. Nucor’s dividend payout ratio (DPR) is 20.87%.

Insider Activity

In related news, EVP Allen C. Behr sold 4,968 shares of Nucor stock in a transaction on Monday, November 11th. The stock was sold at an average price of $159.72, for a total value of $793,488.96. Following the transaction, the executive vice president now owns 85,376 shares in the company, valued at approximately $13,636,254.72. This trade represents a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kenneth Rex Query sold 9,000 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total value of $1,321,200.00. Following the sale, the executive vice president now owns 98,770 shares of the company’s stock, valued at $14,499,436. This represents a 8.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,680 shares of company stock valued at $4,773,724 in the last 90 days. 0.46% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. BMO Capital Markets lowered their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday, September 18th. Morgan Stanley decreased their price objective on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their target price on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, Argus upgraded Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $190.57.

About Nucor

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.