Whittier Trust Co. Boosts Holdings in Nucor Co. (NYSE:NUE)

Whittier Trust Co. boosted its position in shares of Nucor Co. (NYSE:NUE) by 384.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,260 shares of the basic materials company’s stock after buying an additional 1,000 shares during the quarter. Whittier Trust Co.’s holdings in Nucor were worth $189,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in shares of Nucor by 2.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,909,388 shares of the basic materials company’s stock valued at $617,915,000 after purchasing an additional 84,558 shares during the period. Pacer Advisors Inc. lifted its stake in Nucor by 29.7% in the second quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock worth $456,030,000 after acquiring an additional 660,866 shares during the period. Legal & General Group Plc lifted its stake in Nucor by 3.2% in the second quarter. Legal & General Group Plc now owns 2,160,803 shares of the basic materials company’s stock worth $341,580,000 after acquiring an additional 67,974 shares during the period. Nordea Investment Management AB lifted its stake in Nucor by 6.5% in the first quarter. Nordea Investment Management AB now owns 1,165,094 shares of the basic materials company’s stock worth $230,572,000 after acquiring an additional 70,917 shares during the period. Finally, Hsbc Holdings PLC lifted its stake in Nucor by 11.6% in the second quarter. Hsbc Holdings PLC now owns 1,069,920 shares of the basic materials company’s stock worth $169,433,000 after acquiring an additional 111,177 shares during the period. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Stock Performance

NUE opened at $141.34 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 1.85, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. The company has a market cap of $33.55 billion, a P/E ratio of 13.66 and a beta of 1.55. The firm’s 50-day moving average price is $147.81 and its 200-day moving average price is $159.39.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, topping 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 company had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.28 billion. During the same quarter in the prior year, the company earned $4.57 EPS. Nucor’s quarterly revenue was down 15.2% on a year-over-year basis. As a group, equities analysts anticipate that Nucor Co. will post 9.08 EPS for the current fiscal year.

Nucor Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, September 27th. This represents a $2.16 annualized dividend and a yield of 1.53%. Nucor’s dividend payout ratio (DPR) is presently 20.87%.

Insider Buying and Selling

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 99,049 shares in the company, valued at approximately $15,847,840. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.46% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NUE has been the subject of a number of research reports. Morgan Stanley lowered their price objective on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. reduced their target price on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a report on Wednesday. BMO Capital Markets reduced their target price on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. 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 given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Nucor has an average rating of “Moderate Buy” and a consensus target price of $190.57.

Nucor Profile

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.