Seamount Financial Group Inc. Has $440,000 Stock Position in Nucor Co. (NYSE:NUE)

Seamount Financial Group Inc. lifted its position in shares of Nucor Co. (NYSE:NUE) by 3.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,927 shares of the basic materials company’s stock after purchasing an additional 102 shares during the quarter. Seamount Financial Group Inc.’s holdings in Nucor were worth $440,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of NUE. CX Institutional boosted its stake in Nucor by 52.8% during the second quarter. CX Institutional now owns 17,245 shares of the basic materials company’s stock worth $2,726,000 after buying an additional 5,960 shares in the last quarter. Norden Group LLC bought a new stake in Nucor in the first quarter valued at about $1,847,000. Banco Santander S.A. increased its stake in Nucor by 86.2% in the first quarter. Banco Santander S.A. now owns 12,895 shares of the basic materials company’s stock valued at $2,552,000 after acquiring an additional 5,971 shares during the period. Ascension Asset Management LLC bought a new position in Nucor during the second quarter worth about $885,000. Finally, Kimelman & Baird LLC acquired a new stake in Nucor during the second quarter valued at approximately $6,655,000. 76.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Nucor

In other news, EVP Daniel R. Needham sold 8,624 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the transaction, the executive vice president now owns 99,049 shares of the company’s stock, valued at $15,847,840. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

NUE has been the subject of a number of recent research reports. 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. lowered their price target on Nucor from $174.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Argus raised Nucor to a “strong-buy” rating in a report on Monday, August 26th. Bank of America reduced their target price on shares of Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Finally, BMO Capital Markets dropped their target price on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research report on Wednesday, September 18th. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $191.43.

Nucor Stock Performance

Shares of NYSE:NUE opened at $158.24 on Friday. The business has a fifty day moving average of $147.44 and a 200-day moving average of $160.49. The firm has a market cap of $37.94 billion, a PE ratio of 9.31 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.85 and a current ratio of 2.93. Nucor Co. has a twelve month low of $133.42 and a twelve month high of $203.00.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.37. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The firm had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $7.69 billion. During the same quarter last year, the company posted $5.81 EPS. The company’s quarterly revenue was down 15.2% compared to the same quarter last year. On average, equities research analysts predict that Nucor Co. will post 9.08 EPS for the current fiscal year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.37%. The ex-dividend date is Friday, September 27th. Nucor’s dividend payout ratio is 12.71%.

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.