Diversified Trust Co Increases Stake in Nucor Co. (NYSE:NUE)

Diversified Trust Co lifted its position in shares of Nucor Co. (NYSE:NUE) by 87.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,449 shares of the basic materials company’s stock after buying an additional 4,880 shares during the period. Diversified Trust Co’s holdings in Nucor were worth $2,068,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. SVB Wealth LLC boosted its stake in shares of Nucor by 1.5% in the fourth quarter. SVB Wealth LLC now owns 3,656 shares of the basic materials company’s stock worth $636,000 after acquiring an additional 54 shares during the period. EverSource Wealth Advisors LLC grew its stake in Nucor by 6.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the basic materials company’s stock valued at $151,000 after purchasing an additional 54 shares during the last quarter. Kestra Private Wealth Services LLC lifted its holdings in shares of Nucor by 0.8% during the 4th quarter. Kestra Private Wealth Services LLC now owns 7,191 shares of the basic materials company’s stock valued at $1,252,000 after purchasing an additional 55 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC increased its stake in Nucor by 36.6% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 220 shares of the basic materials company’s stock valued at $38,000 after purchasing an additional 59 shares in the last quarter. Finally, Fortitude Family Office LLC lifted its holdings in shares of Nucor by 54.1% during the first quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 59 shares during the period. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Trading Down 0.8 %

Nucor stock traded down $1.21 during mid-day trading on Monday, hitting $156.87. 450,529 shares of the stock were exchanged, compared to its average volume of 1,465,665. The firm’s fifty day simple moving average is $166.46 and its two-hundred day simple moving average is $177.87. The stock has a market capitalization of $37.61 billion, a price-to-earnings ratio of 9.30 and a beta of 1.57. The company has a quick ratio of 2.48, a current ratio of 4.02 and a debt-to-equity ratio of 0.31. Nucor Co. has a 12 month low of $140.07 and a 12 month high of $203.00.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). Nucor had a return on equity of 19.62% and a net margin of 12.40%. The company had revenue of $8.14 billion during the quarter, compared to analysts’ expectations of $8.26 billion. During the same period last year, the firm posted $4.45 earnings per share. Nucor’s quarterly revenue was down 6.6% compared to the same quarter last year. Analysts forecast that Nucor Co. will post 10.84 EPS for the current year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Friday, June 28th. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

Analyst Ratings Changes

A number of equities analysts have issued reports on NUE shares. Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and increased their price target for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. StockNews.com downgraded Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Bank of America decreased their target price on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. BMO Capital Markets reduced their price target on Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a research note on Monday, June 17th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Nucor from $190.00 to $180.00 and set a “neutral” rating on the stock in a report on Tuesday, June 11th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $189.67.

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.