Nucor Co. (NYSE:NUE) Shares Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI lifted its position in Nucor Co. (NYSE:NUE) by 46.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,550 shares of the basic materials company’s stock after acquiring an additional 1,433 shares during the period. Citizens Financial Group Inc. RI’s holdings in Nucor were worth $719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its holdings in shares of Nucor by 6.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the basic materials company’s stock worth $151,000 after buying an additional 54 shares in the last quarter. Fortitude Family Office LLC grew its stake in Nucor by 54.1% during the 1st quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 59 shares in the last quarter. GPS Wealth Strategies Group LLC grew its stake in Nucor by 4.1% during 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 acquiring an additional 64 shares in the last quarter. Chilton Capital Management LLC raised its holdings in 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 acquiring an additional 65 shares during the last quarter. Finally, Integrated Advisors Network LLC lifted its stake in Nucor by 3.4% in the 4th quarter. Integrated Advisors Network LLC now owns 2,141 shares of the basic materials company’s stock worth $373,000 after purchasing an additional 70 shares in the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on NUE shares. Argus raised Nucor to a “strong-buy” rating in a report on Monday, August 26th. JPMorgan Chase & Co. raised Nucor from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $170.00 to $174.00 in a research note on Monday, September 9th. BMO Capital Markets dropped their price objective on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a report on Monday, June 17th. Morgan Stanley raised shares of Nucor from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $187.00 to $176.00 in a research note on Thursday, August 15th. Finally, Bank of America dropped their price target on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $195.00.

Nucor Price Performance

Nucor stock opened at $142.18 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.85 and a current ratio of 2.93. The company has a market capitalization of $34.09 billion, a price-to-earnings ratio of 8.36 and a beta of 1.55. The company’s 50 day simple moving average is $150.36 and its 200-day simple moving average is $166.72. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.37. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The company had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $7.69 billion. During the same period in the prior year, the firm earned $5.81 earnings per share. The firm’s revenue was down 15.2% compared to the same quarter last year. As a group, equities research analysts expect that Nucor Co. will post 9.95 earnings per share for the current year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.52%. The ex-dividend date is Friday, September 27th. Nucor’s dividend payout ratio is currently 12.71%.

Insiders Place Their Bets

In other news, EVP Daniel R. Needham sold 8,624 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total value of $1,379,840.00. Following the completion of the transaction, the executive vice president now owns 99,049 shares of the company’s stock, valued at $15,847,840. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.46% of the company’s stock.

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.