First Hawaiian Bank Sells 840 Shares of Nucor Co. (NYSE:NUE)

First Hawaiian Bank trimmed its position in Nucor Co. (NYSE:NUE) by 31.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,799 shares of the basic materials company’s stock after selling 840 shares during the period. First Hawaiian Bank’s holdings in Nucor were worth $216,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Crews Bank & Trust bought a new stake in shares of Nucor in the 4th quarter valued at $29,000. Heck Capital Advisors LLC acquired a new position in Nucor in the fourth quarter valued at about $121,000. Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of Nucor by 6.0% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,521 shares of the basic materials company’s stock worth $878,000 after acquiring an additional 429 shares in the last quarter. Columbus Macro LLC raised its position in shares of Nucor by 246.3% during the fourth quarter. Columbus Macro LLC now owns 29,031 shares of the basic materials company’s stock worth $3,388,000 after purchasing an additional 20,648 shares during the period. Finally, Rockline Wealth Management LLC lifted its holdings in shares of Nucor by 2.1% during the 4th quarter. Rockline Wealth Management LLC now owns 22,878 shares of the basic materials company’s stock valued at $2,670,000 after purchasing an additional 460 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Leon J. Topalian sold 34,238 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $120.19, for a total value of $4,115,065.22. Following the transaction, the chief executive officer now directly owns 162,993 shares of the company’s stock, valued at $19,590,128.67. This represents a 17.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on NUE shares. Wall Street Zen cut Nucor from a “hold” rating to a “sell” rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. decreased their price target on shares of Nucor from $156.00 to $140.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. The Goldman Sachs Group reduced their target price on shares of Nucor from $175.00 to $169.00 and set a “buy” rating for the company in a report on Monday, April 7th. Argus set a $155.00 price objective on Nucor in a report on Wednesday, March 5th. Finally, Morgan Stanley set a $164.00 target price on Nucor in a research report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $158.89.

Nucor Trading Up 0.3%

Shares of NYSE:NUE opened at $109.30 on Monday. Nucor Co. has a 52-week low of $97.59 and a 52-week high of $170.52. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51. The company has a market capitalization of $25.22 billion, a P/E ratio of 13.00, a price-to-earnings-growth ratio of 0.96 and a beta of 1.73. The company has a 50-day simple moving average of $114.02 and a 200 day simple moving average of $125.44.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, April 28th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15). The business had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.25 billion. Nucor had a net margin of 6.60% and a return on equity of 9.85%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.46 earnings per share. Sell-side analysts forecast that Nucor Co. will post 7.64 earnings per share for the current year.

Nucor Company 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.