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

Arden Trust Co lowered its holdings in Nucor Co. (NYSE:NUE) by 5.2% in the third quarter, HoldingsChannel reports. The firm 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of NUE. ProShare Advisors LLC grew its holdings in Nucor by 1.2% during the 2nd quarter. ProShare Advisors LLC now owns 2,137,265 shares of the basic materials company’s stock worth $88,504,000 after acquiring an additional 24,330 shares in the last quarter. Nordea Investment Management AB raised its stake in Nucor by 107.7% during the second quarter. Nordea Investment Management AB now owns 1,337,900 shares of the basic materials company’s stock valued at $54,144,000 after buying an additional 693,682 shares in the last quarter. Swiss National Bank lifted its holdings in Nucor by 1.4% during the 2nd quarter. Swiss National Bank now owns 1,193,597 shares of the basic materials company’s stock worth $49,427,000 after buying an additional 16,800 shares during the last quarter. Personal Capital Advisors Corp grew its position in shares of Nucor by 36.2% in the 2nd quarter. Personal Capital Advisors Corp now owns 977,011 shares of the basic materials company’s stock worth $40,458,000 after acquiring an additional 259,468 shares in the last quarter. Finally, Capital International Investors bought a new stake in shares of Nucor in the 1st quarter valued at approximately $34,585,000. Hedge funds and other institutional investors own 74.61% of the company’s stock.

Shares of NUE stock opened at $49.33 on Friday. Nucor Co. has a 12-month low of $27.52 and a 12-month high of $58.70. 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 business has a 50 day simple moving average of $46.82 and a 200 day simple moving average of $42.64. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.39 and a quick ratio of 2.68.

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

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

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

In other news, CEO Leon J. Topalian sold 9,389 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $43.18, for a total value 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 $5,099,126.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.39% of the company’s stock.

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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