Atlantic Union Bankshares Corp Sells 134 Shares of Nucor Co. (NYSE:NUE)

Atlantic Union Bankshares Corp trimmed its position in shares of Nucor Co. (NYSE:NUE) by 0.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 34,432 shares of the basic materials company’s stock after selling 134 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Nucor were worth $5,176,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. National Pension Service grew its stake in Nucor by 3.2% during the third quarter. National Pension Service now owns 652,502 shares of the basic materials company’s stock worth $98,097,000 after buying an additional 20,258 shares during the last quarter. CX Institutional grew its stake in Nucor by 52.8% during the second quarter. CX Institutional now owns 17,245 shares of the basic materials company’s stock worth $2,726,000 after buying an additional 5,960 shares during the last quarter. BIP Wealth LLC bought a new stake in shares of Nucor during the third quarter valued at approximately $681,000. Ascension Asset Management LLC bought a new stake in shares of Nucor during the second quarter valued at approximately $885,000. Finally, Kimelman & Baird LLC bought a new stake in shares of Nucor during the second quarter valued at approximately $6,655,000. 76.48% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Nucor news, CFO Stephen D. Laxton sold 4,712 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total value of $798,825.36. Following the completion of the transaction, the chief financial officer now directly owns 82,132 shares of the company’s stock, valued at approximately $13,923,837.96. The trade was a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Allen C. Behr sold 4,968 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $159.72, for a total value of $793,488.96. Following the completion of the transaction, the executive vice president now directly owns 85,376 shares of the company’s stock, valued at approximately $13,636,254.72. The trade was a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,680 shares of company stock valued at $4,773,724 over the last three months. Company insiders own 0.46% of the company’s stock.

Nucor Stock Up 0.5 %

Shares of Nucor stock opened at $154.77 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. Nucor Co. has a 12 month low of $133.42 and a 12 month high of $203.00. The business has a fifty day simple moving average of $150.47 and a 200 day simple moving average of $153.69. The stock has a market cap of $36.34 billion, a PE ratio of 14.95 and a beta of 1.55.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.09. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The business had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.28 billion. During the same period in the previous year, the firm earned $4.57 earnings per share. The firm’s quarterly revenue was down 15.2% compared to the same quarter last year. Research analysts predict that Nucor Co. will post 8.5 EPS for the current year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were paid a dividend of $0.54 per share. The ex-dividend date was Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.40%. Nucor’s dividend payout ratio (DPR) is presently 20.87%.

Analysts Set New Price Targets

Several research firms have recently commented on NUE. BMO Capital Markets decreased their price target on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 18th. Morgan Stanley decreased their price target on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their price target on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Argus raised shares of 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 given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $190.57.

Nucor Company 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.