First Citizens Bank & Trust Co. Trims Stake in Nucor Co. (NYSE:NUE)

First Citizens Bank & Trust Co. reduced its position in Nucor Co. (NYSE:NUE) by 10.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,206 shares of the basic materials company’s stock after selling 473 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Nucor were worth $632,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Chilton Capital Management LLC raised its position in Nucor by 94.2% in the 1st quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 65 shares during the period. Central Pacific Bank Trust Division purchased a new stake in Nucor in the 1st quarter worth about $28,000. Salomon & Ludwin LLC purchased a new stake in Nucor in the 1st quarter worth about $31,000. McClarren Financial Advisors Inc. increased its position in shares of Nucor by 129.0% during the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 89 shares during the period. Finally, HHM Wealth Advisors LLC increased its position in shares of Nucor by 769.2% during the second quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 200 shares during the period. 76.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Nucor

In other 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 transaction of $1,379,840.00. Following the completion of the sale, the executive vice president now directly owns 99,049 shares in the company, valued at approximately $15,847,840. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.46% of the stock is owned by insiders.

Nucor Price Performance

Shares of NUE opened at $158.24 on Monday. The company has a market cap of $37.94 billion, a price-to-earnings ratio of 9.31 and a beta of 1.55. Nucor Co. has a twelve month low of $133.42 and a twelve month high of $203.00. The company has a quick ratio of 1.85, a current ratio of 2.93 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average of $147.44 and a two-hundred day moving average of $160.21.

Nucor (NYSE:NUE) last announced its 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 company 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%. Nucor’s revenue was down 15.2% compared to the same quarter last year. During the same period last year, the firm earned $5.81 earnings per share. As a group, analysts predict that Nucor Co. will post 9.08 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be paid a $0.54 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.16 annualized dividend and a yield of 1.37%. Nucor’s dividend payout ratio (DPR) is 12.71%.

Wall Street Analysts Forecast Growth

NUE has been the topic of a number of research reports. Bank of America reduced their target price on shares of Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. JPMorgan Chase & Co. reduced their target price on shares of Nucor from $174.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Morgan Stanley reduced their target price on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. Argus raised shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Finally, BMO Capital Markets dropped their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $191.43.

Nucor Company 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.