Arden Trust Co Reduces Holdings in Nucor Co. (NYSE:NUE)

Arden Trust Co lowered its position in shares of Nucor Co. (NYSE:NUE) by 5.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,015 shares of the basic materials company’s stock after selling 1,087 shares during the period. Arden Trust Co’s holdings in Nucor were worth $898,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Snow Capital Management LP purchased a new position in Nucor during the 2nd quarter worth approximately $955,000. Wilsey Asset Management Inc. increased its holdings in shares of Nucor by 0.8% in the 2nd quarter. Wilsey Asset Management Inc. now owns 233,801 shares of the basic materials company’s stock valued at $9,534,000 after acquiring an additional 1,931 shares during the period. Advisors Asset Management Inc. raised its position in Nucor by 1.2% in the 1st quarter. Advisors Asset Management Inc. now owns 59,073 shares of the basic materials company’s stock valued at $2,128,000 after purchasing an additional 687 shares during the last quarter. FDx Advisors Inc. boosted its stake in Nucor by 6.2% during the 1st quarter. FDx Advisors Inc. now owns 6,204 shares of the basic materials company’s stock worth $223,000 after purchasing an additional 360 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ grew its position in Nucor by 6.0% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 84,289 shares of the basic materials company’s stock worth $3,036,000 after purchasing an additional 4,744 shares during the last quarter. 74.61% of the stock is owned by institutional investors and hedge funds.

NUE has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of Nucor from $42.00 to $46.00 and gave the stock a “hold” rating in a research note on Thursday, October 1st. BNP Paribas lowered shares of Nucor from an “outperform” rating to a “neutral” rating and set a $48.00 price objective on the stock. in a research report on Thursday. UBS Group upped their price objective on shares of Nucor from $39.00 to $48.00 in a research report on Friday, October 2nd. Exane BNP Paribas downgraded shares of Nucor from an “outperform” rating to a “neutral” rating and set a $48.00 target price on the stock. in a report on Thursday. Finally, BMO Capital Markets increased their price target on shares of Nucor from $46.00 to $50.00 and gave the stock a “market perform” rating in a report on Friday, September 18th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $48.36.

In other Nucor news, CEO Leon J. Topalian sold 9,389 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $43.18, for a total transaction of $405,417.02. Following the completion of the transaction, the chief executive officer now directly owns 118,090 shares in the company, valued at approximately $5,099,126.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.39% of the stock is owned by insiders.

Shares of NYSE:NUE opened at $49.33 on Friday. The firm has a market capitalization of $14.89 billion, a price-to-earnings ratio of 29.36, a price-to-earnings-growth ratio of 1.62 and a beta of 1.40. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.39 and a quick ratio of 2.68. The business’s 50 day simple moving average is $46.82 and its 200-day simple moving average is $42.64. Nucor Co. has a 12 month low of $27.52 and a 12 month high of $58.70.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.22. The firm had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.43 billion. Nucor had a return on equity of 7.95% and a net margin of 2.49%. Nucor’s revenue was down 26.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.26 earnings per share. On average, equities analysts anticipate that Nucor Co. will post 2.54 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 10th. Investors of record on Wednesday, September 30th will be given a $0.4025 dividend. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $1.61 annualized dividend and a dividend yield of 3.26%. Nucor’s dividend payout ratio is presently 37.35%.

Nucor Company Profile

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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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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