Nucor Co. (NYSE:NUE) Shares Sold by Plimoth Trust Co. LLC

Plimoth Trust Co. LLC lowered its holdings in shares of Nucor Co. (NYSE:NUE) by 3.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,690 shares of the basic materials company’s stock after selling 100 shares during the period. Plimoth Trust Co. LLC’s holdings in Nucor were worth $425,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its position in Nucor by 6.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the basic materials company’s stock worth $151,000 after acquiring an additional 54 shares during the period. Kestra Private Wealth Services LLC lifted its holdings in shares of Nucor by 0.8% during the fourth quarter. Kestra Private Wealth Services LLC now owns 7,191 shares of the basic materials company’s stock worth $1,252,000 after purchasing an additional 55 shares during the period. Fortitude Family Office LLC grew its position in Nucor by 54.1% in the 1st quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock valued at $33,000 after buying an additional 59 shares during the last quarter. GPS Wealth Strategies Group LLC increased its stake in Nucor by 4.1% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,630 shares of the basic materials company’s stock valued at $258,000 after buying an additional 64 shares during the period. Finally, Nilsine Partners LLC raised its position in Nucor by 5.2% during the 1st quarter. Nilsine Partners LLC now owns 1,307 shares of the basic materials company’s stock worth $259,000 after buying an additional 65 shares during the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Nucor

In related news, EVP Daniel R. Needham sold 8,624 shares of Nucor stock in a transaction dated Wednesday, July 31st. The stock was 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 owns 99,049 shares in the company, valued at approximately $15,847,840. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Bank of America dropped their price target 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. JPMorgan Chase & Co. cut their target price on Nucor from $180.00 to $170.00 and set a “neutral” rating for the company in a research note on Tuesday, July 16th. BMO Capital Markets decreased their price target on Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a research note on Monday, June 17th. Jefferies Financial Group started coverage on Nucor in a research report on Monday, May 20th. They issued a “hold” rating and a $190.00 price objective for the company. Finally, Morgan Stanley upgraded shares of Nucor from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $187.00 to $176.00 in a research report on Thursday, August 15th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $194.43.

Nucor Price Performance

Shares of NUE stock traded down $0.22 during mid-day trading on Thursday, reaching $146.24. The stock had a trading volume of 709,523 shares, compared to its average volume of 1,465,699. The company has a market cap of $35.06 billion, a P/E ratio of 8.60 and a beta of 1.57. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26. Nucor Co. has a 12-month low of $139.41 and a 12-month high of $203.00. The business has a 50-day simple moving average of $154.21 and a 200 day simple moving average of $172.25.

Nucor (NYSE:NUE) last posted 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. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The firm had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $7.69 billion. During the same period last year, the firm posted $5.81 EPS. The firm’s revenue for the quarter was down 15.2% on a year-over-year basis. On average, sell-side analysts anticipate that Nucor Co. will post 10.57 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, June 28th were issued a $0.54 dividend. The ex-dividend date was Friday, June 28th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.48%. Nucor’s dividend payout ratio (DPR) is 12.71%.

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.