Nucor Corporation $NUE Shares Sold by Blue Trust Inc.

Blue Trust Inc. reduced its position in Nucor Corporation (NYSE:NUE) by 11.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 910 shares of the basic materials company’s stock after selling 112 shares during the quarter. Blue Trust Inc.’s holdings in Nucor were worth $118,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Matrix Trust Co boosted its stake in shares of Nucor by 53.8% in the 2nd quarter. Matrix Trust Co now owns 240 shares of the basic materials company’s stock valued at $31,000 after buying an additional 84 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of Nucor by 81.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after buying an additional 153 shares during the period. Spirit of America Management Corp NY purchased a new position in shares of Nucor in the 1st quarter valued at about $48,000. Meeder Asset Management Inc. boosted its stake in shares of Nucor by 209.6% in the 1st quarter. Meeder Asset Management Inc. now owns 418 shares of the basic materials company’s stock valued at $50,000 after buying an additional 283 shares during the period. Finally, Putney Financial Group LLC boosted its stake in shares of Nucor by 86.8% in the 1st quarter. Putney Financial Group LLC now owns 467 shares of the basic materials company’s stock valued at $56,000 after buying an additional 217 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Price Performance

NUE stock opened at $132.55 on Friday. The business has a 50 day moving average price of $141.07 and a 200 day moving average price of $129.63. The stock has a market cap of $30.43 billion, a price-to-earnings ratio of 23.93, a PEG ratio of 0.97 and a beta of 1.75. Nucor Corporation has a fifty-two week low of $97.59 and a fifty-two week high of $170.52. The company has a quick ratio of 1.51, a current ratio of 2.83 and a debt-to-equity ratio of 0.31.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, July 28th. The basic materials company reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.06. Nucor had a return on equity of 6.65% and a net margin of 4.21%.The company had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.47 billion. During the same quarter in the previous year, the business earned $2.68 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts anticipate that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be paid a $0.55 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.20 dividend on an annualized basis and a yield of 1.7%. Nucor’s payout ratio is currently 39.71%.

Insider Transactions at Nucor

In other Nucor news, insider Michael D. Keller sold 6,088 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $148.41, for a total value of $903,520.08. Following the completion of the sale, the insider owned 22,464 shares in the company, valued at approximately $3,333,882.24. The trade was a 21.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kenneth Rex Query sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $144.90, for a total value of $1,449,000.00. Following the completion of the sale, the executive vice president owned 84,080 shares of the company’s stock, valued at approximately $12,183,192. This represents a 10.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,309 shares of company stock worth $4,553,771 in the last three months. Corporate insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Morgan Stanley lifted their price objective on Nucor from $134.00 to $149.00 and gave the company an “overweight” rating in a research note on Friday, June 20th. Jefferies Financial Group upgraded Nucor from a “hold” rating to a “buy” rating and lifted their price objective for the company from $135.00 to $170.00 in a research note on Thursday, July 31st. Wells Fargo & Company decreased their price objective on Nucor from $146.00 to $140.00 and set an “equal weight” rating for the company in a research note on Thursday, September 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nucor in a research note on Wednesday, October 8th. Finally, Bank of America lifted their price objective on Nucor from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $157.60.

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.