Nucor Co. (NYSE:NUE) Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its position in Nucor Co. (NYSE:NUE) by 3.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 134,166 shares of the basic materials company’s stock after selling 4,927 shares during the period. Truist Financial Corp owned approximately 0.06% of Nucor worth $15,659,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in Nucor by 2.9% in the third quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock worth $1,724,117,000 after purchasing an additional 326,181 shares during the period. National Pension Service lifted its position in Nucor by 3.2% in the third quarter. National Pension Service now owns 652,502 shares of the basic materials company’s stock worth $98,097,000 after purchasing an additional 20,258 shares during the period. Everence Capital Management Inc. acquired a new stake in shares of Nucor during the 4th quarter valued at $565,000. BIP Wealth LLC acquired a new stake in shares of Nucor during the 3rd quarter valued at $681,000. Finally, Geode Capital Management LLC lifted its position in shares of Nucor by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,861,945 shares of the basic materials company’s stock valued at $883,732,000 after acquiring an additional 74,569 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Trading Down 1.9 %

NYSE NUE opened at $139.85 on Thursday. Nucor Co. has a 1-year low of $112.25 and a 1-year high of $203.00. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $32.84 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 0.95 and a beta of 1.60. The firm’s fifty day simple moving average is $124.79 and its 200-day simple moving average is $139.99.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.28. Nucor had a net margin of 6.60% and a return on equity of 9.85%. During the same period in the prior year, the firm earned $3.16 EPS. As a group, sell-side analysts anticipate that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Monday, March 31st. Nucor’s dividend payout ratio (DPR) is presently 26.16%.

Wall Street Analysts Forecast Growth

NUE has been the subject of a number of recent research reports. Citigroup cut their price objective on Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Morgan Stanley cut their price objective on Nucor from $166.00 to $154.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. JPMorgan Chase & Co. cut their price objective on Nucor from $152.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Jefferies Financial Group increased their price objective on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Finally, The Goldman Sachs Group began coverage on Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Nucor has an average rating of “Moderate Buy” and an average price target of $163.13.

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.