Trinity Street Asset Management LLP Has $26.52 Million Stock Position in Nucor Corporation $NUE

Trinity Street Asset Management LLP reduced its holdings in shares of Nucor Corporation (NYSE:NUE) by 2.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 156,826 shares of the basic materials company’s stock after selling 3,120 shares during the quarter. Nucor makes up approximately 1.8% of Trinity Street Asset Management LLP’s holdings, making the stock its 12th biggest position. Trinity Street Asset Management LLP’s holdings in Nucor were worth $26,519,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NUE. Strive Financial Group LLC bought a new stake in Nucor during the 4th quarter worth about $27,000. Stance Capital LLC acquired a new position in shares of Nucor during the 3rd quarter worth about $25,000. Mcguire Capital Advisors Inc. bought a new position in shares of Nucor in the 4th quarter valued at about $32,000. Motiv8 Investments LLC bought a new position in shares of Nucor in the 4th quarter valued at about $32,000. Finally, Reflection Asset Management acquired a new stake in shares of Nucor in the fourth quarter valued at about $36,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NUE has been the topic of several analyst reports. Barclays began coverage on Nucor in a report on Thursday, May 21st. They set an “overweight” rating and a $270.00 target price on the stock. Jefferies Financial Group raised their price target on Nucor from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Citigroup upped their price objective on Nucor from $180.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. BMO Capital Markets increased their price objective on Nucor from $250.00 to $285.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. Finally, UBS Group downgraded shares of Nucor from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $190.00 to $224.00 in a report on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $266.92.

Nucor Price Performance

Shares of NYSE NUE opened at $222.72 on Wednesday. The business’s 50 day moving average price is $237.13 and its two-hundred day moving average price is $195.96. The company has a market cap of $50.72 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 0.54 and a beta of 1.88. The company has a quick ratio of 1.55, a current ratio of 2.90 and a debt-to-equity ratio of 0.30. Nucor Corporation has a twelve month low of $128.46 and a twelve month high of $270.90.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.41. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The firm had revenue of $9.50 billion for the quarter, compared to analyst estimates of $8.88 billion. During the same quarter in the prior year, the company earned $0.77 earnings per share. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. On average, analysts predict that Nucor Corporation will post 17 EPS for the current year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, June 30th. Nucor’s dividend payout ratio is 22.18%.

Insider Buying and Selling at Nucor

In other Nucor news, insider Michael D. Keller sold 4,554 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $225.86, for a total transaction of $1,028,566.44. Following the completion of the sale, the insider owned 16,834 shares of the company’s stock, valued at $3,802,127.24. This trade represents a 21.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Allen C. Behr sold 10,096 shares of Nucor stock in a transaction on Monday, May 4th. The stock was sold at an average price of $226.08, for a total transaction of $2,282,503.68. Following the transaction, the executive vice president directly owned 62,871 shares of the company’s stock, valued at approximately $14,213,875.68. This trade represents a 13.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 82,378 shares of company stock worth $18,963,930. 0.62% of the stock is currently owned by corporate insiders.

Nucor Profile

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.