Massmutual Trust Co. FSB ADV Sells 81 Shares of Nucor Co. (NYSE:NUE)

Massmutual Trust Co. FSB ADV decreased its position in shares of Nucor Co. (NYSE:NUE) by 3.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,282 shares of the basic materials company’s stock after selling 81 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Nucor were worth $343,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in Nucor by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,909,388 shares of the basic materials company’s stock valued at $617,915,000 after buying an additional 84,558 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Nucor by 29.7% in the 2nd quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock valued at $456,030,000 after buying an additional 660,866 shares during the last quarter. Legal & General Group Plc raised its holdings in Nucor by 3.2% in the 2nd quarter. Legal & General Group Plc now owns 2,160,803 shares of the basic materials company’s stock valued at $341,580,000 after buying an additional 67,974 shares during the last quarter. Nordea Investment Management AB raised its holdings in Nucor by 6.5% in the 1st quarter. Nordea Investment Management AB now owns 1,165,094 shares of the basic materials company’s stock valued at $230,572,000 after buying an additional 70,917 shares during the last quarter. Finally, Hsbc Holdings PLC raised its holdings in Nucor by 11.6% in the 2nd quarter. Hsbc Holdings PLC now owns 1,069,920 shares of the basic materials company’s stock valued at $169,433,000 after buying an additional 111,177 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, EVP Daniel R. Needham sold 8,624 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total value of $1,379,840.00. Following the transaction, the executive vice president now directly owns 99,049 shares in the company, valued at $15,847,840. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is owned by company insiders.

Nucor Stock Performance

Shares of NUE stock opened at $151.44 on Friday. The company has a market cap of $36.31 billion, a price-to-earnings ratio of 8.91 and a beta of 1.55. 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 1.85, a current ratio of 2.93 and a debt-to-equity ratio of 0.26. The firm has a 50 day moving average of $147.33 and a 200-day moving average of $163.72.

Nucor (NYSE:NUE) last issued its earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (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 last year, the business earned $5.81 EPS. Nucor’s quarterly revenue was down 15.2% compared to the same quarter last year. On average, equities analysts forecast that Nucor Co. will post 9.28 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. Investors of record on Friday, September 27th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, September 27th. Nucor’s dividend payout ratio is currently 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.