US Bancorp DE Has $13.58 Million Stock Holdings in Nucor Co. (NYSE:NUE)

US Bancorp DE lessened its holdings in Nucor Co. (NYSE:NUE) by 0.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 68,593 shares of the basic materials company’s stock after selling 287 shares during the quarter. US Bancorp DE’s holdings in Nucor were worth $13,575,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Criterion Capital Advisors LLC acquired a new stake in shares of Nucor in the 4th quarter valued at $25,000. Rise Advisors LLC bought a new position in shares of Nucor in the 1st quarter valued at $27,000. Chilton Capital Management LLC lifted its stake in shares of 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 acquiring an additional 65 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in shares of Nucor in the 1st quarter valued at $28,000. Finally, Tompkins Financial Corp lifted its stake in shares of Nucor by 208.0% in the 1st quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 104 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Trading Up 0.8 %

Shares of NUE stock traded up $1.27 during mid-day trading on Tuesday, hitting $166.14. The company’s stock had a trading volume of 1,456,135 shares, compared to its average volume of 1,466,085. The company’s fifty day simple moving average is $162.52 and its 200-day simple moving average is $176.36. Nucor Co. has a 52 week low of $140.07 and a 52 week high of $203.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.48 and a current ratio of 4.02. The company has a market cap of $39.83 billion, a PE ratio of 9.72 and a beta of 1.57.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, April 22nd. The basic materials company reported $3.46 earnings per share for the quarter, missing the consensus estimate of $3.62 by ($0.16). Nucor had a return on equity of 19.62% and a net margin of 12.40%. The business had revenue of $8.14 billion during the quarter, compared to the consensus estimate of $8.26 billion. During the same period last year, the business posted $4.45 earnings per share. The business’s revenue was down 6.6% on a year-over-year basis. As a group, equities research analysts expect that Nucor Co. will post 10.84 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, August 9th. Stockholders of record on Friday, June 28th will be paid a $0.54 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.16 annualized dividend and a dividend yield of 1.30%. Nucor’s dividend payout ratio is presently 12.71%.

Wall Street Analysts Forecast Growth

NUE has been the subject of a number of research reports. StockNews.com cut Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. BMO Capital Markets dropped their price target on Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a research note on Monday, June 17th. Bank of America dropped their price target on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Jefferies Financial Group initiated coverage on Nucor in a research report on Monday, May 20th. They set a “hold” rating and a $190.00 target price for the company. Finally, JPMorgan Chase & Co. lowered their target price on Nucor from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $191.29.

About Nucor

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.