Trinity Street Asset Management LLP Sells 3,120 Shares of Nucor Corporation $NUE

Trinity Street Asset Management LLP decreased its holdings in shares of Nucor Corporation (NYSE:NUE) by 2.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 156,826 shares of the basic materials company’s stock after selling 3,120 shares during the quarter. Nucor comprises approximately 1.8% of Trinity Street Asset Management LLP’s investment portfolio, making the stock its 12th biggest holding. Trinity Street Asset Management LLP owned about 0.07% of Nucor worth $26,519,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in Nucor by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 28,407,540 shares of the basic materials company’s stock worth $4,633,554,000 after acquiring an additional 144,038 shares during the period. Morgan Stanley boosted its position in shares of Nucor by 1.1% in the 4th quarter. Morgan Stanley now owns 3,853,205 shares of the basic materials company’s stock worth $628,497,000 after purchasing an additional 41,728 shares during the last quarter. Norges Bank bought a new position in shares of Nucor in the 4th quarter worth $609,002,000. Capital World Investors grew its stake in shares of Nucor by 20.1% during the third quarter. Capital World Investors now owns 3,042,761 shares of the basic materials company’s stock worth $412,081,000 after purchasing an additional 509,019 shares during the period. Finally, Nordea Investment Management AB grew its stake in shares of Nucor by 11.1% during the fourth quarter. Nordea Investment Management AB now owns 2,103,000 shares of the basic materials company’s stock worth $342,642,000 after purchasing an additional 210,577 shares during the period. 76.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NUE has been the topic of several analyst reports. Citigroup increased their target price on Nucor from $180.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Wells Fargo & Company decreased their target price on Nucor from $292.00 to $283.00 and set an “overweight” rating for the company in a research report on Thursday, June 18th. Weiss Ratings raised Nucor from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 14th. BMO Capital Markets increased their price target on shares of Nucor from $250.00 to $285.00 and gave the company an “outperform” rating in a research report on Wednesday, June 3rd. Finally, Zacks Research raised shares of Nucor from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Nucor currently has a consensus rating of “Moderate Buy” and an average price target of $266.92.

Insider Buying and Selling at Nucor

In other news, EVP Bradley Ford sold 2,240 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $232.13, for a total value of $519,971.20. Following the completion of the transaction, the executive vice president owned 43,649 shares in the company, valued at $10,132,242.37. This represents a 4.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Allen C. Behr sold 10,096 shares of the 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 sale, the executive vice president directly owned 62,871 shares of the company’s stock, valued at $14,213,875.68. This represents a 13.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 82,378 shares of company stock worth $18,963,930 in the last quarter. Company insiders own 0.62% of the company’s stock.

Nucor Stock Performance

NUE stock 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 current ratio of 2.90, a quick ratio of 1.55 and a debt-to-equity ratio of 0.30. The firm has a market cap of $50.72 billion, a PE ratio of 22.05, a P/E/G ratio of 0.54 and a beta of 1.88. Nucor Corporation has a 1-year low of $128.46 and a 1-year high of $270.90.

Nucor (NYSE:NUE) last posted its earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $8.88 billion. During the same period in the previous year, the firm earned $0.77 earnings per share. The company’s revenue was up 21.3% on a year-over-year basis. As a group, research analysts forecast that Nucor Corporation will post 17 earnings per share for the current year.

Nucor Announces Dividend

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

About Nucor

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.