First Hawaiian Bank Invests $240,000 in Nucor Co. (NYSE:NUE)

First Hawaiian Bank acquired a new stake in Nucor Co. (NYSE:NUE) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,215 shares of the basic materials company’s stock, valued at approximately $240,000.

Several other large investors have also recently added to or reduced their stakes in NUE. SVB Wealth LLC grew its stake in shares of 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 in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Nucor by 6.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the basic materials company’s stock worth $151,000 after purchasing an additional 54 shares during the period. Kestra Private Wealth Services LLC raised its position 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 valued at $1,252,000 after purchasing an additional 55 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC raised its position in Nucor by 36.6% in the 4th 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 in the last quarter. Finally, Center for Financial Planning Inc. boosted its stake in shares of Nucor by 7.9% in the 4th quarter. Center for Financial Planning Inc. now owns 822 shares of the basic materials company’s stock valued at $143,000 after buying an additional 60 shares during the period. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Price Performance

Shares of NYSE NUE opened at $157.58 on Friday. The stock has a market cap of $37.78 billion, a P/E ratio of 9.27 and a beta of 1.60. Nucor Co. has a twelve month low of $140.07 and a twelve month high of $203.00. The stock has a 50 day moving average of $170.20 and a two-hundred day moving average of $178.08. 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 issued its quarterly earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). The business had revenue of $8.14 billion for the quarter, compared to analyst estimates of $8.26 billion. Nucor had a return on equity of 19.62% and a net margin of 12.40%. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.45 EPS. On average, research analysts forecast that Nucor Co. will post 11.07 earnings per share for the current year.

Nucor Dividend Announcement

The business 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 $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.37%. The ex-dividend date is Friday, June 28th. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NUE. Jefferies Financial Group started coverage on shares of Nucor in a report on Monday, May 20th. They issued a “hold” rating and a $190.00 target price on the stock. StockNews.com downgraded shares of Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. decreased their price target on Nucor from $190.00 to $180.00 and set a “neutral” rating for the company in a report on Tuesday, June 11th. BMO Capital Markets dropped their price objective on Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a report on Monday, June 17th. Finally, Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $180.00 to $240.00 in a research note on Wednesday, March 13th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $188.38.

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.