First Financial Bank Trust Division Has $885,000 Stock Position in Nucor Co. (NYSE:NUE)

First Financial Bank Trust Division cut its stake in shares of Nucor Co. (NYSE:NUE) by 5.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,887 shares of the basic materials company’s stock after selling 308 shares during the period. First Financial Bank Trust Division’s holdings in Nucor were worth $885,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NUE. Rise Advisors LLC acquired a new position in Nucor in the 1st quarter worth about $27,000. Chilton Capital Management LLC raised its holdings in Nucor by 94.2% in the 1st quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after buying an additional 65 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in Nucor during the 1st quarter worth approximately $28,000. Tompkins Financial Corp grew its holdings in Nucor by 208.0% during the 1st quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 104 shares during the last quarter. Finally, Salomon & Ludwin LLC bought a new position in shares of Nucor during the first quarter valued at $31,000. 76.48% of the stock is currently owned by institutional investors.

Nucor Stock Performance

NYSE:NUE opened at $151.43 on Thursday. The company has a quick ratio of 1.85, a current ratio of 2.93 and a debt-to-equity ratio of 0.26. Nucor Co. has a twelve month low of $133.42 and a twelve month high of $203.00. The company has a fifty day moving average of $147.63 and a 200-day moving average of $164.08. The firm has a market capitalization of $36.31 billion, a P/E ratio of 8.91 and a beta of 1.55.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.37. The firm had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $7.69 billion. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The business’s revenue was down 15.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.81 earnings per share. As a group, sell-side analysts anticipate that Nucor Co. will post 9.28 EPS for the current year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.43%. Nucor’s dividend payout ratio is 12.71%.

Wall Street Analyst Weigh In

NUE has been the topic of several analyst reports. Argus raised shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Morgan Stanley decreased their price target on Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, September 18th. JPMorgan Chase & Co. upgraded Nucor from a “neutral” rating to an “overweight” rating and upped their target price for the company from $170.00 to $174.00 in a report on Monday, September 9th. BMO Capital Markets lowered their price target on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. Finally, Bank of America reduced their price objective on shares of Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Nucor has a consensus rating of “Moderate Buy” and a consensus price target of $192.00.

Insider Transactions at Nucor

In related news, EVP Daniel R. Needham sold 8,624 shares of Nucor stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total value of $1,379,840.00. Following the completion of the sale, the executive vice president now owns 99,049 shares of the company’s stock, valued at approximately $15,847,840. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.46% of the stock is owned by insiders.

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.