Private Trust Co. NA Acquires 641 Shares of Nucor Co. (NYSE:NUE)

Private Trust Co. NA grew its stake in shares of Nucor Co. (NYSE:NUE) by 29.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,840 shares of the basic materials company’s stock after buying an additional 641 shares during the period. Private Trust Co. NA’s holdings in Nucor were worth $427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. McClarren Financial Advisors Inc. increased its holdings in Nucor by 129.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 89 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Nucor in the third quarter worth about $26,000. Coastline Trust Co bought a new position in Nucor during the third quarter valued at approximately $29,000. Brown Lisle Cummings Inc. purchased a new position in Nucor during the 3rd quarter valued at approximately $30,000. Finally, Salomon & Ludwin LLC raised its holdings in shares of Nucor by 45.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut 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, October 23rd. Argus upgraded shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. Morgan Stanley lowered their price target on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, BMO Capital Markets reduced their price objective on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Nucor has a consensus rating of “Moderate Buy” and an average price target of $190.57.

Nucor Price Performance

Shares of NUE stock opened at $154.77 on Thursday. The stock has a 50 day moving average price of $150.35 and a 200 day moving average price of $153.68. Nucor Co. has a 52-week low of $133.42 and a 52-week high of $203.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59. The firm has a market capitalization of $36.34 billion, a P/E ratio of 14.95 and a beta of 1.55.

Nucor (NYSE:NUE) last released its 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. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The business’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same period last year, the company earned $4.57 earnings per share. As a group, sell-side analysts predict that Nucor Co. will post 8.5 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Friday, September 27th. Nucor’s dividend payout ratio (DPR) is presently 20.87%.

Insider Activity at Nucor

In other Nucor news, EVP Allen C. Behr sold 4,968 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $159.72, for a total value of $793,488.96. Following the completion of the sale, the executive vice president now directly owns 85,376 shares in the company, valued at approximately $13,636,254.72. This represents a 5.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stephen D. Laxton sold 4,712 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total value of $798,825.36. Following the transaction, the chief financial officer now owns 82,132 shares in the company, valued at approximately $13,923,837.96. This represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,680 shares of company stock worth $4,773,724. Company insiders own 0.64% of the company’s stock.

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.