Park National Corp OH Sells 319 Shares of Nucor Co. (NYSE:NUE)

Park National Corp OH lowered its holdings in shares of Nucor Co. (NYSE:NUE) by 4.7% in the third quarter, HoldingsChannel reports. The firm owned 6,413 shares of the basic materials company’s stock after selling 319 shares during the period. Park National Corp OH’s holdings in Nucor were worth $964,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Pacer Advisors Inc. boosted its stake in shares of Nucor by 29.7% during the 2nd quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock worth $456,030,000 after acquiring an additional 660,866 shares during the period. Global Assets Advisory LLC bought a new position in shares of Nucor in the first quarter valued at about $90,216,000. Swedbank AB acquired a new stake in shares of Nucor during the 1st quarter worth about $37,395,000. Captrust Financial Advisors boosted its holdings in shares of Nucor by 23.5% during the 1st quarter. Captrust Financial Advisors now owns 804,150 shares of the basic materials company’s stock worth $159,141,000 after buying an additional 153,077 shares during the period. Finally, Trinity Street Asset Management LLP acquired a new position in Nucor in the 2nd quarter valued at about $19,213,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Buying and Selling at Nucor

In other news, EVP Daniel R. Needham sold 8,624 shares of the stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NUE. Argus upgraded Nucor to a “strong-buy” rating in a report on Monday, August 26th. BMO Capital Markets decreased their price objective 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 dropped their target price on Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. JPMorgan Chase & Co. raised shares of Nucor from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $170.00 to $174.00 in a research report on Monday, September 9th. Finally, Bank of America lowered their price target on shares of Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $192.00.

Nucor Price Performance

NUE stock opened at $151.29 on Friday. The company’s 50-day moving average price is $147.52 and its two-hundred day moving average price is $163.99. Nucor Co. has a 12 month low of $133.42 and a 12 month high of $203.00. The company has a quick ratio of 1.85, a current ratio of 2.93 and a debt-to-equity ratio of 0.26. The firm has a market cap of $36.27 billion, a P/E ratio of 8.90 and a beta of 1.55.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.37. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The business had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $7.69 billion. During the same period last year, the firm posted $5.81 earnings per share. The firm’s quarterly revenue was down 15.2% compared to the same quarter last year. On average, analysts anticipate that Nucor Co. will post 9.28 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Friday, September 27th. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

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.