Whittier Trust Co. Has $136,000 Stake in Nucor Corp. (NUE)
Whittier Trust Co. reduced its position in shares of Nucor Corp. (NYSE:NUE) by 3.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,746 shares of the company’s stock after selling 98 shares during the period. Whittier Trust Co.’s holdings in Nucor Corp. were worth $136,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in NUE. NEXT Financial Group Inc raised its stake in shares of Nucor Corp. by 4.5% in the second quarter. NEXT Financial Group Inc now owns 2,310 shares of the company’s stock valued at $114,000 after buying an additional 100 shares in the last quarter. Kanaly Trust Co raised its stake in shares of Nucor Corp. by 0.5% in the second quarter. Kanaly Trust Co now owns 3,326 shares of the company’s stock valued at $164,000 after buying an additional 15 shares in the last quarter. Parasol Investment Management LLC raised its stake in shares of Nucor Corp. by 13.2% in the second quarter. Parasol Investment Management LLC now owns 4,293 shares of the company’s stock valued at $212,000 after buying an additional 500 shares in the last quarter. Eqis Capital Management Inc. bought a new stake in shares of Nucor Corp. during the second quarter valued at approximately $223,000. Finally, Savant Capital LLC raised its stake in shares of Nucor Corp. by 0.4% in the second quarter. Savant Capital LLC now owns 5,052 shares of the company’s stock valued at $250,000 after buying an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 77.95% of the company’s stock.
Nucor Corp. (NYSE:NUE) traded down 0.13% during trading on Monday, hitting $46.80. 1,912,156 shares of the stock were exchanged. Nucor Corp. has a 12-month low of $33.90 and a 12-month high of $57.08. The stock’s 50-day moving average price is $47.88 and its 200-day moving average price is $49.63. The firm has a market cap of $14.90 billion, a PE ratio of 32.08 and a beta of 1.47.
Nucor Corp. (NYSE:NUE) last announced its earnings results on Thursday, July 21st. The company reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.03. The firm earned $4.25 billion during the quarter, compared to analyst estimates of $4.49 billion. Nucor Corp. had a net margin of 3.00% and a return on equity of 8.58%. On average, equities analysts expect that Nucor Corp. will post $2.67 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, September 30th will be given a $0.375 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.50 dividend on an annualized basis and a yield of 3.21%. Nucor Corp.’s dividend payout ratio is presently 102.04%.
NUE has been the topic of several research analyst reports. Jefferies Group cut their price target on shares of Nucor Corp. from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, September 15th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $59.50 price target on shares of Nucor Corp. in a research note on Friday, July 22nd. Zacks Investment Research raised shares of Nucor Corp. from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research report on Monday, June 27th. Argus raised shares of Nucor Corp. from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Friday, June 24th. Finally, Deutsche Bank AG raised shares of Nucor Corp. from a “hold” rating to a “buy” rating and raised their price objective for the stock from $52.00 to $60.00 in a research report on Wednesday, July 6th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Nucor Corp. has a consensus rating of “Buy” and an average target price of $52.99.
In related news, CFO James D. Frias sold 9,000 shares of the stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $53.14, for a total value of $478,260.00. Following the completion of the transaction, the chief financial officer now owns 156,065 shares in the company, valued at approximately $8,293,294.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James R. Darsey sold 71,465 shares of the stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $52.45, for a total transaction of $3,748,339.25. Following the completion of the transaction, the insider now owns 234,135 shares of the company’s stock, valued at approximately $12,280,380.75. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by corporate insiders.
Nucor Corp. Company Profile
Nucor Corporation (Nucor) manufactures steel and steel products. The Company also produces direct reduced iron (DRI) for use in the Company’s steel mills. It also processes ferrous and nonferrous metals and brokers ferrous and nonferrous metals, pig iron, hot briquetted iron (HBI) and DRI. Nucor operates in three segments: steel mills, steel products and raw materials.
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