Park National Corp OH Sells 1,522 Shares of Nucor Co. (NYSE:NUE)

Park National Corp OH reduced its holdings in shares of Nucor Co. (NYSE:NUE) by 18.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,900 shares of the basic materials company’s stock after selling 1,522 shares during the quarter. Park National Corp OH’s holdings in Nucor were worth $1,366,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. SVB Wealth LLC raised its position in Nucor by 1.5% in the fourth quarter. SVB Wealth LLC now owns 3,656 shares of the basic materials company’s stock worth $636,000 after acquiring an additional 54 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Nucor by 6.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the basic materials company’s stock valued at $151,000 after buying an additional 54 shares during the last quarter. Kestra Private Wealth Services LLC increased its holdings in Nucor by 0.8% in the 4th quarter. Kestra Private Wealth Services LLC now owns 7,191 shares of the basic materials company’s stock worth $1,252,000 after acquiring an additional 55 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC lifted its holdings in Nucor by 36.6% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 220 shares of the basic materials company’s stock valued at $38,000 after purchasing an additional 59 shares during the last quarter. Finally, Center for Financial Planning Inc. increased its stake in shares of Nucor by 7.9% in the fourth quarter. Center for Financial Planning Inc. now owns 822 shares of the basic materials company’s stock worth $143,000 after purchasing an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Transactions at Nucor

In other news, insider Michael D. Keller sold 3,145 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total transaction of $609,092.15. Following the completion of the transaction, the insider now directly owns 24,873 shares in the company, valued at $4,817,153.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Douglas J. Jellison sold 19,506 shares of Nucor stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.41, for a total value of $3,772,655.46. Following the completion of the sale, the executive vice president now directly owns 120,738 shares in the company, valued at approximately $23,351,936.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael D. Keller sold 3,145 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.67, for a total transaction of $609,092.15. Following the sale, the insider now directly owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The disclosure for this sale can be found here. Insiders own 0.64% of the company’s stock.

Nucor Stock Down 1.1 %

NUE opened at $155.63 on Wednesday. The company has a market cap of $37.31 billion, a P/E ratio of 9.15 and a beta of 1.60. Nucor Co. has a 12 month low of $140.07 and a 12 month high of $203.00. The business’s 50-day moving average price is $172.60 and its 200-day moving average price is $178.37. The company has a current ratio of 4.02, a quick ratio of 2.48 and a debt-to-equity ratio of 0.31.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, April 22nd. The basic materials company reported $3.46 EPS for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). Nucor had a net margin of 12.40% and a return on equity of 19.62%. The firm had revenue of $8.14 billion for the quarter, compared to the consensus estimate of $8.26 billion. During the same quarter in the prior year, the company earned $4.45 earnings per share. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. On average, equities analysts expect that Nucor Co. will post 11.41 EPS for the current year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, June 28th will be given 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 1.39%. Nucor’s dividend payout ratio is presently 12.71%.

Analysts Set New Price Targets

A number of brokerages recently commented on NUE. JPMorgan Chase & Co. dropped their price target on shares of Nucor from $190.00 to $180.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 11th. Jefferies Financial Group initiated coverage on shares of Nucor in a research report on Monday, May 20th. They set a “hold” rating and a $190.00 price target for the company. BMO Capital Markets dropped their price objective on Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a research note on Monday. StockNews.com cut shares of Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Finally, Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and raised their price objective for the company from $180.00 to $240.00 in a research report on Wednesday, March 13th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $188.38.

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.