Trinity Street Asset Management LLP Sells 8,070 Shares of Nucor Corporation $NUE

Trinity Street Asset Management LLP decreased its holdings in shares of Nucor Corporation (NYSE:NUE) by 4.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 159,946 shares of the basic materials company’s stock after selling 8,070 shares during the period. Nucor makes up approximately 1.6% of Trinity Street Asset Management LLP’s investment portfolio, making the stock its 14th biggest position. Trinity Street Asset Management LLP’s holdings in Nucor were worth $26,089,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Stance Capital LLC bought a new stake in Nucor during the third quarter valued at $25,000. AXS Investments LLC purchased a new position in shares of Nucor in the 3rd quarter worth about $37,000. Vision Financial Markets LLC boosted its holdings in shares of Nucor by 281.7% in the 3rd quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 200 shares in the last quarter. Caitlin John LLC bought a new position in shares of Nucor during the 3rd quarter valued at about $41,000. Finally, Salomon & Ludwin LLC increased its position in shares of Nucor by 45.5% during the 3rd quarter. Salomon & Ludwin LLC now owns 320 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Insider Activity

In other news, EVP Kenneth Rex Query sold 7,452 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $196.02, for a total value of $1,460,741.04. Following the completion of the sale, the executive vice president owned 76,628 shares of the company’s stock, valued at approximately $15,020,620.56. The trade was a 8.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Allen C. Behr sold 7,568 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $188.50, for a total value of $1,426,568.00. Following the completion of the sale, the executive vice president directly owned 67,711 shares of the company’s stock, valued at approximately $12,763,523.50. This trade represents a 10.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 26,401 shares of company stock valued at $4,936,152. Insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on NUE shares. BMO Capital Markets increased their price objective on Nucor from $190.00 to $196.00 and gave the company an “outperform” rating in a research report on Tuesday, March 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Nucor in a research report on Monday, December 29th. The Goldman Sachs Group started coverage on Nucor in a research report on Wednesday, April 1st. They set a “buy” rating and a $210.00 price objective on the stock. Wall Street Zen upgraded Nucor from a “hold” rating to a “buy” rating in a research report on Saturday, March 28th. Finally, Wells Fargo & Company increased their price objective on Nucor from $194.00 to $197.00 and gave the company an “overweight” rating in a research report on Friday, March 20th. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Nucor presently has an average rating of “Moderate Buy” and a consensus price target of $190.30.

Nucor Trading Up 5.2%

NYSE NUE opened at $182.25 on Thursday. Nucor Corporation has a 1-year low of $102.46 and a 1-year high of $196.90. The company has a current ratio of 2.94, a quick ratio of 1.57 and a debt-to-equity ratio of 0.31. The stock has a 50-day moving average of $175.10 and a 200-day moving average of $161.41. The firm has a market cap of $41.49 billion, a PE ratio of 24.17, a price-to-earnings-growth ratio of 0.62 and a beta of 1.73.

Nucor (NYSE:NUE) last released its earnings results on Monday, January 26th. The basic materials company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.18). Nucor had a net margin of 5.37% and a return on equity of 8.26%. The company had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same period last year, the firm posted $1.22 EPS. The company’s revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts forecast that Nucor Corporation will post 7.64 EPS for the current year.

Nucor declared that its Board of Directors has initiated a share repurchase plan on Friday, February 20th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the basic materials company to reacquire up to 9.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 11th. Stockholders of record on Tuesday, March 31st will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, March 31st. Nucor’s payout ratio is 29.71%.

About Nucor

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.