Nucor Co. (NYSE:NUE) Holdings Trimmed by Diversified Trust Co

Diversified Trust Co trimmed its position in shares of Nucor Co. (NYSE:NUE) by 5.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,864 shares of the basic materials company’s stock after selling 388 shares during the period. Diversified Trust Co’s holdings in Nucor were worth $1,032,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CX Institutional grew its position in Nucor by 52.8% during the 2nd quarter. CX Institutional now owns 17,245 shares of the basic materials company’s stock worth $2,726,000 after purchasing an additional 5,960 shares in the last quarter. Newbridge Financial Services Group Inc. grew its position in Nucor by 94.2% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,855 shares of the basic materials company’s stock worth $323,000 after purchasing an additional 900 shares in the last quarter. Norden Group LLC purchased a new position in Nucor during the 1st quarter worth approximately $1,847,000. Banco Santander S.A. grew its position in Nucor by 86.2% during the 1st quarter. Banco Santander S.A. now owns 12,895 shares of the basic materials company’s stock worth $2,552,000 after purchasing an additional 5,971 shares in the last quarter. Finally, Ascension Asset Management LLC purchased a new position in Nucor during the 2nd quarter worth approximately $885,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. upgraded shares of Nucor from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $170.00 to $174.00 in a report on Monday, September 9th. Morgan Stanley lowered their price target on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. BMO Capital Markets lowered their price target on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday, September 18th. 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 report on Wednesday, June 26th. Finally, Argus upgraded shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Nucor has an average rating of “Moderate Buy” and a consensus price target of $192.00.

Nucor Trading Down 3.0 %

Shares of NYSE:NUE opened at $148.11 on Wednesday. The stock has a market capitalization of $35.51 billion, a PE ratio of 8.71 and a beta of 1.55. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00. The firm has a fifty day moving average price of $147.20 and a 200 day moving average price of $163.02. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26.

Nucor (NYSE:NUE) last issued its quarterly earnings data 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. The firm had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $7.69 billion. Nucor had a net margin of 10.45% and a return on equity of 15.69%. Nucor’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same period in the prior year, the company posted $5.81 earnings per share. Analysts expect that Nucor Co. will post 9.28 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Friday, September 27th. Nucor’s dividend payout ratio is 12.71%.

Insiders Place Their Bets

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total transaction 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company 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.