Farmers Trust Co. Sells 4,784 Shares of Nucor Co. (NYSE:NUE)


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Farmers Trust Co. lessened its position in Nucor Co. (NYSE:NUE) by 8.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 54,130 shares of the basic materials company’s stock after selling 4,784 shares during the quarter. Farmers Trust Co.’s holdings in Nucor were worth $4,345,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Capital Asset Advisory Services LLC acquired a new position in Nucor during the 4th quarter worth approximately $28,000. Regent Peak Wealth Advisors LLC acquired a new position in Nucor during the fourth quarter worth $35,000. SOA Wealth Advisors LLC. bought a new position in Nucor in the fourth quarter valued at $41,000. Defined Wealth Management LLC acquired a new stake in Nucor in the 4th quarter valued at $43,000. Finally, NuWave Investment Management LLC lifted its position in Nucor by 13,914.3% during the 4th quarter. NuWave Investment Management LLC now owns 981 shares of the basic materials company’s stock worth $52,000 after buying an additional 974 shares in the last quarter. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Nucor stock opened at $80.29 on Friday. The company has a market capitalization of $23.98 billion, a price-to-earnings ratio of 56.94, a PEG ratio of 1.35 and a beta of 1.33. The company has a current ratio of 3.78, a quick ratio of 2.40 and a debt-to-equity ratio of 0.51. Nucor Co. has a 12 month low of $34.72 and a 12 month high of $82.76. The stock’s 50 day moving average is $68.67 and its 200-day moving average is $56.20.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Thursday, January 28th. The basic materials company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.08. The firm had revenue of $5.26 billion for the quarter, compared to analysts’ expectations of $5.45 billion. Nucor had a return on equity of 7.21% and a net margin of 2.15%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.52 EPS. As a group, equities research analysts predict that Nucor Co. will post 3.22 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 11th. Shareholders of record on Wednesday, March 31st will be paid a $0.405 dividend. This represents a $1.62 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Tuesday, March 30th. Nucor’s dividend payout ratio (DPR) is 37.59%.

A number of research firms recently issued reports on NUE. Zacks Investment Research raised Nucor from a “hold” rating to a “strong-buy” rating and set a $76.00 target price on the stock in a research report on Wednesday, March 10th. BMO Capital Markets upped their price objective on Nucor from $63.00 to $75.00 and gave the stock a “market perform” rating in a research note on Wednesday, March 17th. Morgan Stanley raised their target price on shares of Nucor from $60.00 to $71.00 and gave the company an “equal weight” rating in a research note on Thursday, March 18th. Credit Suisse Group raised shares of Nucor from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $48.00 to $63.00 in a research report on Wednesday, February 3rd. Finally, Argus raised shares of Nucor from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Thursday, March 25th. Six equities 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. The stock presently has a consensus rating of “Buy” and a consensus price target of $61.42.

In other news, EVP Craig A. Feldman sold 29,672 shares of the stock in a transaction on Wednesday, February 24th. The stock was sold at an average price of $62.53, for a total transaction of $1,855,390.16. Following the sale, the executive vice president now directly owns 109,311 shares of the company’s stock, valued at approximately $6,835,216.83. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Kenneth Rex Query sold 3,000 shares of the firm’s stock in a transaction on Monday, March 8th. The stock was sold at an average price of $65.54, for a total value of $196,620.00. Following the completion of the transaction, the executive vice president now owns 63,810 shares in the company, valued at approximately $4,182,107.40. The disclosure for this sale can be found here. Insiders have sold 144,640 shares of company stock worth $10,290,639 over the last ninety days. Insiders own 1.39% of the company’s stock.

Nucor Company Profile

Nucor Corporation manufactures and sells 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 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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