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

Trinity Street Asset Management LLP lowered its position in Nucor Corporation (NYSE:NUE) by 4.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 159,946 shares of the basic materials company’s stock after selling 8,070 shares during the period. Nucor accounts for about 1.6% of Trinity Street Asset Management LLP’s holdings, making the stock its 14th biggest position. Trinity Street Asset Management LLP owned approximately 0.07% of Nucor worth $26,089,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NUE. Berkshire Hathaway Inc bought a new position in Nucor in the second quarter worth approximately $856,792,000. AQR Capital Management LLC boosted its holdings in Nucor by 580.9% in the second quarter. AQR Capital Management LLC now owns 653,845 shares of the basic materials company’s stock worth $84,699,000 after acquiring an additional 557,819 shares in the last quarter. Capital World Investors boosted its holdings in Nucor by 20.1% in the third quarter. Capital World Investors now owns 3,042,761 shares of the basic materials company’s stock worth $412,081,000 after acquiring an additional 509,019 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in Nucor by 169.0% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 779,940 shares of the basic materials company’s stock worth $127,216,000 after acquiring an additional 489,950 shares in the last quarter. Finally, State Street Corp boosted its holdings in Nucor by 3.1% in the second quarter. State Street Corp now owns 12,501,779 shares of the basic materials company’s stock worth $1,626,321,000 after acquiring an additional 371,911 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Stock Performance

Shares of NUE opened at $182.25 on Thursday. 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 company has a market capitalization of $41.49 billion, a price-to-earnings ratio of 24.17, a PEG ratio of 0.62 and a beta of 1.73. The stock has a 50 day moving average of $175.10 and a 200 day moving average of $161.41. Nucor Corporation has a 12 month low of $102.46 and a 12 month high of $196.90.

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

Nucor announced that its board has initiated a share buyback program on Friday, February 20th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the basic materials company to purchase up to 9.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Nucor Dividend Announcement

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

Insiders Place Their Bets

In other Nucor news, EVP Allen C. Behr sold 7,568 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was 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 $12,763,523.50. This trade represents a 10.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Daniel R. Needham sold 3,881 shares of the firm’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $178.00, for a total value of $690,818.00. Following the completion of the sale, the executive vice president directly owned 88,298 shares of the company’s stock, valued at $15,717,044. This represents a 4.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 26,401 shares of company stock valued at $4,936,152 over the last ninety days. 0.46% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on NUE. BMO Capital Markets increased their price target on Nucor from $190.00 to $196.00 and gave the stock an “outperform” rating in a report on Tuesday, March 3rd. Seaport Research Partners raised their target price on Nucor from $170.00 to $185.00 and gave the company a “buy” rating in a report on Friday, January 30th. The Goldman Sachs Group assumed coverage on Nucor in a report on Wednesday, April 1st. They set a “buy” rating and a $210.00 price target for the company. Morgan Stanley reiterated an “equal weight” rating and set a $180.00 price target (up from $165.00) on shares of Nucor in a report on Friday, January 9th. Finally, Jefferies Financial Group upped their price target on Nucor from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Nucor presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.30.

Nucor Company 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.