Blue Trust Inc. Has $505,000 Position in Nucor Co. (NYSE:NUE)

Blue Trust Inc. boosted its stake in shares of Nucor Co. (NYSE:NUE) by 58.6% in the third quarter, HoldingsChannel reports. The firm owned 3,197 shares of the basic materials company’s stock after purchasing an additional 1,181 shares during the quarter. Blue Trust Inc.’s holdings in Nucor were worth $505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. McClarren Financial Advisors Inc. lifted its stake in shares of Nucor by 129.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock worth $25,000 after buying an additional 89 shares during the last quarter. Chilton Capital Management LLC boosted its holdings in shares of Nucor by 94.2% during the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 65 shares during the period. Central Pacific Bank Trust Division acquired a new position in shares of Nucor in the first quarter valued at approximately $28,000. Salomon & Ludwin LLC bought a new position in shares of Nucor during the first quarter worth approximately $31,000. Finally, HHM Wealth Advisors LLC lifted its holdings in Nucor by 769.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 200 shares during the last quarter. 76.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Insider Activity at Nucor

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the business’s 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 sale, the executive vice president now owns 99,049 shares of the company’s stock, 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 can be accessed through the SEC website. 0.46% of the stock is owned by insiders.

Nucor Stock Down 6.5 %

Shares of NUE opened at $146.03 on Wednesday. The firm has a 50 day simple moving average of $147.80 and a two-hundred day simple moving average of $159.52. The company has a market cap of $35.01 billion, a P/E ratio of 8.59 and a beta of 1.55. Nucor Co. has a one year low of $133.42 and a one year high of $203.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.09. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a return on equity of 15.69% and a net margin of 10.45%. Nucor’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same period in the prior year, the company earned $4.57 EPS. Research analysts forecast that Nucor Co. will post 9.08 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Friday, September 27th. Nucor’s dividend payout ratio is 12.71%.

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.