Greenleaf Trust Raises Stock Holdings in Nucor Co. (NYSE:NUE)

Greenleaf Trust increased its position in Nucor Co. (NYSE:NUE) by 23.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,615 shares of the basic materials company’s stock after acquiring an additional 1,422 shares during the period. Greenleaf Trust’s holdings in Nucor were worth $1,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NUE. Pacer Advisors Inc. grew its position in Nucor by 29.7% during the 2nd quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock worth $456,030,000 after purchasing an additional 660,866 shares during the period. Swedbank AB acquired a new stake in Nucor during the 1st quarter worth about $37,395,000. Captrust Financial Advisors grew its position in Nucor by 23.5% during the 1st quarter. Captrust Financial Advisors now owns 804,150 shares of the basic materials company’s stock worth $159,141,000 after purchasing an additional 153,077 shares during the period. Trinity Street Asset Management LLP acquired a new stake in Nucor during the 2nd quarter worth about $19,213,000. Finally, Hsbc Holdings PLC grew its position in Nucor by 11.6% during the 2nd quarter. Hsbc Holdings PLC now owns 1,069,920 shares of the basic materials company’s stock worth $169,433,000 after purchasing an additional 111,177 shares during the period. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor Trading Down 0.2 %

NUE stock opened at $141.34 on Friday. The company has a current ratio of 2.59, a quick ratio of 1.85 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 stock has a market cap of $33.55 billion, a price-to-earnings ratio of 13.66 and a beta of 1.55. The business’s 50-day moving average is $147.81 and its 200 day moving average is $159.39.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.09. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The company had revenue of $7.44 billion for the quarter, compared to analysts’ expectations of $7.28 billion. During the same period in the previous year, the firm posted $4.57 EPS. Nucor’s revenue was down 15.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Nucor Co. will post 9.08 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.53%. The ex-dividend date is Friday, September 27th. Nucor’s payout ratio is 20.87%.

Insider Buying and Selling

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total value of $1,379,840.00. Following the transaction, the executive vice president now directly owns 99,049 shares of the company’s stock, valued at $15,847,840. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.46% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

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.