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

First Hawaiian Bank lessened its holdings in Nucor Co. (NYSE:NUE) by 31.8% in the first quarter, HoldingsChannel reports. The fund 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 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of NUE. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Nucor in the fourth quarter valued at approximately $25,000. Crews Bank & Trust acquired a new position in Nucor in the 4th quarter valued at $29,000. Putney Financial Group LLC bought a new stake in shares of Nucor during the 4th quarter valued at $29,000. Fourth Dimension Wealth LLC bought a new stake in shares of Nucor during the 4th quarter valued at $41,000. Finally, Park Square Financial Group LLC acquired a new stake in Nucor during the fourth quarter worth about $48,000. Institutional investors own 76.48% of the company’s stock.

Insider Activity

In other Nucor news, CEO Leon J. Topalian sold 34,238 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $120.19, for a total transaction of $4,115,065.22. Following the sale, the chief executive officer now directly owns 162,993 shares of the company’s stock, valued at $19,590,128.67. The trade was a 17.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.46% of the stock is currently owned by insiders.

Nucor Trading Up 0.3%

NYSE NUE opened at $109.30 on Monday. The company has a market cap of $25.22 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 0.96 and a beta of 1.73. Nucor Co. has a twelve month low of $97.59 and a twelve month high of $170.52. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The business’s fifty day moving average is $114.02 and its 200 day moving average is $125.44.

Nucor (NYSE:NUE) last issued its earnings results 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). Nucor had a return on equity of 9.85% and a net margin of 6.60%. The firm had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.25 billion. During the same period in the previous year, the company earned $3.46 EPS. Nucor’s revenue for the quarter was down 3.8% on a year-over-year basis. As a group, sell-side analysts expect that Nucor Co. will post 7.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on NUE. Morgan Stanley set a $164.00 price objective on shares of Nucor in a research report on Monday, March 24th. The Goldman Sachs Group decreased their price target on Nucor from $175.00 to $169.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Argus set a $155.00 price objective on Nucor in a research report on Wednesday, March 5th. UBS Group reduced their price objective on Nucor from $153.00 to $147.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Wall Street Zen downgraded Nucor from a “hold” rating to a “sell” rating in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Nucor has a consensus rating of “Moderate Buy” and a consensus price target of $158.89.

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.