Citizens Financial Group Inc. RI Acquires 79 Shares of Nucor Co. (NYSE:NUE)

Citizens Financial Group Inc. RI increased its stake in Nucor Co. (NYSE:NUE) by 1.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,629 shares of the basic materials company’s stock after purchasing an additional 79 shares during the period. Citizens Financial Group Inc. RI’s holdings in Nucor were worth $696,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Commerce Bank increased its holdings in shares of Nucor by 4.9% in the 3rd quarter. Commerce Bank now owns 16,344 shares of the basic materials company’s stock worth $2,457,000 after buying an additional 758 shares during the last quarter. Prospera Private Wealth LLC bought a new position in Nucor in the third quarter valued at $1,980,000. Counterweight Ventures LLC raised its position in Nucor by 19.6% during the third quarter. Counterweight Ventures LLC now owns 14,121 shares of the basic materials company’s stock valued at $2,123,000 after purchasing an additional 2,312 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Nucor during the third quarter worth about $1,481,000. Finally, Fifth Third Wealth Advisors LLC boosted its holdings in shares of Nucor by 12.6% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 4,069 shares of the basic materials company’s stock worth $612,000 after purchasing an additional 456 shares in the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NUE has been the subject of a number of recent research reports. BMO Capital Markets dropped their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research report on Wednesday, September 18th. Argus upgraded shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. JPMorgan Chase & Co. reduced their target price on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, Morgan Stanley lowered their price target on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Three equities 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $190.57.

Insider Buying and Selling at Nucor

In other news, CEO Leon J. Topalian sold 11,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the completion of the sale, the chief executive officer now directly owns 172,136 shares of the company’s stock, valued at approximately $29,109,918.96. The trade was a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kenneth Rex Query sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the completion of the transaction, the executive vice president now directly owns 98,770 shares in the company, valued at $14,499,436. This represents a 8.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,680 shares of company stock valued at $4,773,724 in the last quarter. 0.46% of the stock is owned by insiders.

Nucor Stock Up 1.3 %

NYSE NUE opened at $151.90 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. Nucor Co. has a 52 week low of $133.42 and a 52 week high of $203.00. The firm has a market capitalization of $35.67 billion, a price-to-earnings ratio of 14.68 and a beta of 1.55. The company has a fifty day moving average of $149.67 and a two-hundred day moving average of $154.20.

Nucor (NYSE:NUE) last posted its quarterly earnings data 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. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The company had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.28 billion. During the same period in the prior year, the company posted $4.57 EPS. The firm’s revenue for the quarter was down 15.2% on a year-over-year basis. On average, analysts predict that Nucor Co. will post 8.52 earnings per share for the current year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Friday, September 27th. Nucor’s payout ratio is currently 20.87%.

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.