Nucor Co. (NYSE:NUE) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in shares of Nucor Co. (NYSE:NUE) by 33.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 120,556 shares of the basic materials company’s stock after selling 60,546 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.05% of Nucor worth $18,124,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. McClarren Financial Advisors Inc. boosted its holdings in shares of Nucor by 129.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 89 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Nucor during the third quarter worth $26,000. Coastline Trust Co purchased a new stake in Nucor in the 3rd quarter valued at $29,000. Brown Lisle Cummings Inc. acquired a new stake in shares of Nucor in the 3rd quarter worth $30,000. Finally, HHM Wealth Advisors LLC raised its holdings in shares of Nucor by 769.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Trading Down 0.1 %

NUE opened at $154.69 on Friday. Nucor Co. has a 52 week low of $133.42 and a 52 week high of $203.00. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. The business has a fifty day simple moving average of $150.64 and a 200-day simple moving average of $153.55. The firm has a market cap of $36.32 billion, a P/E ratio of 14.95 and a beta of 1.55.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.40 by $0.09. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The business had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. During the same quarter last year, the firm posted $4.57 earnings per share. The business’s revenue for the quarter was down 15.2% compared to the same quarter last year. On average, equities analysts expect that Nucor Co. will post 8.5 earnings per share for the current year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend was Friday, September 27th. Nucor’s payout ratio is currently 20.87%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NUE. JPMorgan Chase & Co. dropped their price objective 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. Morgan Stanley reduced their price target 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. Argus upgraded Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Finally, BMO Capital Markets reduced their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Nucor presently has an average rating of “Moderate Buy” and an average price target of $190.57.

Insider Activity

In other Nucor news, CFO Stephen D. Laxton sold 4,712 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total value of $798,825.36. Following the sale, the chief financial officer now owns 82,132 shares of the company’s stock, valued at $13,923,837.96. This trade represents a 5.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Allen C. Behr sold 4,968 shares of the business’s stock in a transaction dated 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 directly owns 85,376 shares of the company’s stock, valued at approximately $13,636,254.72. This represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,680 shares of company stock worth $4,773,724. Corporate insiders own 0.46% of the company’s stock.

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.