Whittier Trust Co. of Nevada Inc. Buys 1,086 Shares of Nucor Corporation (NYSE:NUE)

Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Nucor Corporation (NYSE:NUE) by 228.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,561 shares of the basic materials company’s stock after purchasing an additional 1,086 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Nucor were worth $188,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. raised its stake in Nucor by 17.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,595 shares of the basic materials company’s stock worth $3,853,000 after buying an additional 4,763 shares during the last quarter. Voya Investment Management LLC grew its holdings in shares of Nucor by 528.6% during the fourth quarter. Voya Investment Management LLC now owns 507,715 shares of the basic materials company’s stock valued at $59,235,000 after buying an additional 426,949 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Nucor by 21.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 101,459 shares of the basic materials company’s stock worth $12,210,000 after purchasing an additional 17,861 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Nucor by 20.5% during the first quarter. Assenagon Asset Management S.A. now owns 28,886 shares of the basic materials company’s stock worth $3,476,000 after purchasing an additional 4,914 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Nucor by 12.4% in the first quarter. Envestnet Asset Management Inc. now owns 305,006 shares of the basic materials company’s stock worth $36,704,000 after acquiring an additional 33,700 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Transactions at Nucor

In related news, EVP Daniel R. Needham sold 7,088 shares of the business’s stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $127.87, for a total transaction of $906,342.56. Following the completion of the transaction, the executive vice president owned 99,379 shares of the company’s stock, valued at approximately $12,707,592.73. The trade was a 6.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kenneth Rex Query sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $130.37, for a total value of $1,303,700.00. Following the completion of the transaction, the executive vice president directly owned 94,080 shares of the company’s stock, valued at approximately $12,265,209.60. The trade was a 9.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,326 shares of company stock valued at $6,325,108. Corporate insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

NUE has been the subject of several recent analyst reports. The Goldman Sachs Group reduced their price objective on shares of Nucor from $175.00 to $169.00 and set a “buy” rating for the company in a research note on Monday, April 7th. UBS Group dropped their price target on shares of Nucor from $153.00 to $147.00 and set a “buy” rating for the company in a research report on Thursday, May 29th. BMO Capital Markets upgraded shares of Nucor from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $140.00 to $145.00 in a research note on Monday, June 2nd. JPMorgan Chase & Co. raised their price objective on shares of Nucor from $143.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Morgan Stanley raised their price target on shares of Nucor from $134.00 to $149.00 and gave the company an “overweight” rating in a report on Friday, June 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Nucor presently has a consensus rating of “Moderate Buy” and an average price target of $152.75.

Nucor Trading Up 2.3%

NYSE:NUE opened at $140.92 on Friday. The firm has a market cap of $32.52 billion, a P/E ratio of 25.08, a PEG ratio of 0.88 and a beta of 1.70. The company has a current ratio of 2.52, a quick ratio of 1.48 and a debt-to-equity ratio of 0.32. The stock’s 50 day simple moving average is $124.51 and its 200-day simple moving average is $123.90. Nucor Corporation has a 12-month low of $97.59 and a 12-month high of $170.52.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, April 28th. The basic materials company reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15). The company had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.25 billion. Nucor had a net margin of 4.40% and a return on equity of 6.82%. The firm’s revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.46 EPS. Equities analysts anticipate that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Monday, June 30th will be given a dividend of $0.55 per share. The ex-dividend date is Monday, June 30th. This represents a $2.20 dividend on an annualized basis and a yield of 1.56%. Nucor’s dividend payout ratio (DPR) is presently 39.15%.

Nucor 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.