Greenleaf Trust Grows Stock Position in Nucor Co. (NYSE:NUE)

Greenleaf Trust increased its position in shares of Nucor Co. (NYSE:NUE) by 23.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,615 shares of the basic materials company’s stock after buying an additional 1,422 shares during the quarter. Greenleaf Trust’s holdings in Nucor were worth $1,145,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Global X Japan Co. Ltd. raised its position in shares of Nucor by 12.2% during the 3rd quarter. Global X Japan Co. Ltd. now owns 2,726 shares of the basic materials company’s stock valued at $410,000 after buying an additional 297 shares during the period. Private Advisor Group LLC raised its position in shares of Nucor by 5.1% during the 3rd quarter. Private Advisor Group LLC now owns 18,349 shares of the basic materials company’s stock valued at $2,759,000 after buying an additional 888 shares during the period. Eastern Bank raised its position in shares of Nucor by 37.7% during the 3rd quarter. Eastern Bank now owns 2,008 shares of the basic materials company’s stock valued at $302,000 after buying an additional 550 shares during the period. Signaturefd LLC raised its position in shares of Nucor by 3.2% during the 3rd quarter. Signaturefd LLC now owns 6,254 shares of the basic materials company’s stock valued at $940,000 after buying an additional 193 shares during the period. Finally, DeDora Capital Inc. raised its position in shares of Nucor by 4.6% during the 3rd quarter. DeDora Capital Inc. now owns 3,031 shares of the basic materials company’s stock valued at $456,000 after buying an additional 134 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Buying and Selling

In related news, EVP Daniel R. Needham sold 8,624 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the completion of the transaction, the executive vice president now owns 99,049 shares in the company, valued at approximately $15,847,840. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on NUE. Argus upgraded shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. JPMorgan Chase & Co. dropped their target price on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a report on Wednesday. BMO Capital Markets dropped their target price on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. Finally, Morgan Stanley dropped their target price on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a report on Wednesday. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Nucor has a consensus rating of “Moderate Buy” and a consensus target price of $190.57.

Nucor Stock Performance

NYSE:NUE opened at $141.34 on Friday. The company has a fifty day simple moving average of $147.81 and a two-hundred day simple moving average of $159.39. The company has a market cap of $33.55 billion, a price-to-earnings ratio of 13.66 and a beta of 1.55. The company has a quick ratio of 1.85, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. Nucor Co. has a 52 week low of $133.42 and a 52 week high of $203.00.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.40 by $0.09. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The company’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.57 earnings per share. As a group, equities analysts anticipate that Nucor Co. will post 9.08 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, November 8th. Investors of record on Friday, September 27th will be paid a dividend of $0.54 per share. The ex-dividend date is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.53%. Nucor’s payout ratio is currently 20.87%.

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.