First Financial Bank Trust Division lessened its stake in shares of Nucor Co. (NYSE:NUE) by 16.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,527 shares of the basic materials company’s stock after selling 4,728 shares during the quarter. First Financial Bank Trust Division’s holdings in Nucor were worth $1,297,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in NUE. Norges Bank acquired a new stake in Nucor during the 4th quarter valued at $176,620,000. Millennium Management LLC grew its holdings in Nucor by 269.4% during the 4th quarter. Millennium Management LLC now owns 2,073,142 shares of the basic materials company’s stock valued at $107,409,000 after buying an additional 1,511,854 shares during the last quarter. PGGM Investments boosted its holdings in shares of Nucor by 365.9% during the first quarter. PGGM Investments now owns 1,039,812 shares of the basic materials company’s stock worth $60,673,000 after purchasing an additional 816,634 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of Nucor by 57.4% during the fourth quarter. Deutsche Bank AG now owns 2,039,090 shares of the basic materials company’s stock worth $105,638,000 after purchasing an additional 743,304 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Nucor by 173.1% during the first quarter. First Trust Advisors LP now owns 1,084,759 shares of the basic materials company’s stock worth $63,296,000 after purchasing an additional 687,564 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.
In other news, Chairman John J. Ferriola sold 65,061 shares of Nucor stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $56.20, for a total transaction of $3,656,428.20. Following the sale, the chairman now directly owns 403,735 shares of the company’s stock, valued at $22,689,907. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Raymond S. Napolitan, Jr. sold 10,000 shares of Nucor stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $58.28, for a total value of $582,800.00. Following the sale, the insider now directly owns 96,778 shares in the company, valued at $5,640,221.84. The disclosure for this sale can be found here. Insiders sold 76,314 shares of company stock worth $4,310,637 over the last three months. 0.96% of the stock is currently owned by corporate insiders.
Several equities research analysts have recently issued reports on the company. Credit Suisse Group set a $203.00 price objective on Union Pacific and gave the stock a “buy” rating in a report on Friday. Citigroup set a $74.00 price objective on Realty Income and gave the stock a “hold” rating in a report on Tuesday, June 11th. Goldman Sachs Group upgraded to a “buy” rating and set a GBX 1,180 ($15.42) price objective on the stock in a report on Tuesday, June 4th. Bank of America set a $77.00 price objective on Zscaler and gave the stock a “neutral” rating in a report on Friday, May 31st. Finally, Deutsche Bank set a $18.00 target price on Commercial Metals and gave the company a “buy” rating in a report on Thursday, May 30th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $62.90.
Nucor stock traded up $0.31 during midday trading on Tuesday, reaching $56.58. The stock had a trading volume of 1,908,474 shares, compared to its average volume of 2,472,986. Nucor Co. has a twelve month low of $47.13 and a twelve month high of $68.84. The stock has a market capitalization of $17.23 billion, a PE ratio of 7.43, a PEG ratio of 0.97 and a beta of 1.59. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 1.76. The firm has a 50-day moving average price of $53.72.
Nucor (NYSE:NUE) last released its quarterly earnings data on Thursday, July 18th. The basic materials company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.25 by $0.01. Nucor had a return on equity of 21.65% and a net margin of 8.84%. The company had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6 billion. During the same period last year, the company posted $2.07 earnings per share. The firm’s revenue was down 8.7% compared to the same quarter last year. Analysts predict that Nucor Co. will post 4.88 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, June 28th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.83%. The ex-dividend date is Thursday, June 27th. Nucor’s dividend payout ratio (DPR) is presently 21.00%.
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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