Trinity Street Asset Management LLP Has $19.66 Million Stock Holdings in Nucor Co. (NYSE:NUE)

Trinity Street Asset Management LLP raised its stake in Nucor Co. (NYSE:NUE) by 6.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 168,425 shares of the basic materials company’s stock after buying an additional 10,390 shares during the period. Nucor accounts for 1.9% of Trinity Street Asset Management LLP’s holdings, making the stock its 13th largest holding. Trinity Street Asset Management LLP’s holdings in Nucor were worth $19,657,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the stock. State Street Corp grew its stake in Nucor by 2.9% in the 3rd quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock valued at $1,724,117,000 after buying an additional 326,181 shares during the last quarter. National Pension Service boosted its holdings in shares of Nucor by 3.2% during the third quarter. National Pension Service now owns 652,502 shares of the basic materials company’s stock worth $98,097,000 after acquiring an additional 20,258 shares during the period. Everence Capital Management Inc. acquired a new position in shares of Nucor in the fourth quarter valued at approximately $565,000. BIP Wealth LLC bought a new position in shares of Nucor during the third quarter worth approximately $681,000. Finally, Ascension Asset Management LLC acquired a new stake in Nucor during the 2nd quarter worth approximately $885,000. 76.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NUE. Morgan Stanley reduced their target price on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. The Goldman Sachs Group started coverage on shares of Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 target price on the stock. UBS Group reiterated a “neutral” rating and issued a $156.00 price target (down from $171.00) on shares of Nucor in a research report on Thursday, December 12th. JPMorgan Chase & Co. reduced their price target on Nucor from $168.00 to $152.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Jefferies Financial Group dropped their price objective on Nucor from $150.00 to $125.00 and set a “hold” rating for the company in a report on Monday, January 6th. 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $163.63.

Nucor Stock Performance

Nucor stock opened at $124.40 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. The stock has a market cap of $29.21 billion, a PE ratio of 12.02 and a beta of 1.60. Nucor Co. has a 12-month low of $112.25 and a 12-month high of $203.00. The business’s 50-day moving average price is $133.52 and its two-hundred day moving average price is $144.57.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.09. The company had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The firm’s revenue was down 15.2% on a year-over-year basis. During the same period in the previous year, the firm posted $4.57 EPS. As a group, analysts expect that Nucor Co. will post 8.19 earnings per share for the current fiscal year.

Nucor Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.77%. This is a boost from Nucor’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Tuesday, December 31st. Nucor’s dividend payout ratio is presently 21.26%.

Insider Activity at Nucor

In other news, CFO Stephen D. Laxton sold 4,712 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total transaction of $798,825.36. Following the completion of the transaction, the chief financial officer now owns 82,132 shares of the company’s stock, valued at approximately $13,923,837.96. This trade represents a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Leon J. Topalian sold 11,000 shares of Nucor stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the transaction, the chief executive officer now owns 172,136 shares in the company, valued at approximately $29,109,918.96. This trade represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,680 shares of company stock valued at $4,773,724 in the last 90 days. 0.64% of the stock is owned by corporate insiders.

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.