Chevy Chase Trust Holdings LLC Sells 1,183 Shares of Nucor Co. (NYSE:NUE)

Chevy Chase Trust Holdings LLC trimmed its stake in Nucor Co. (NYSE:NUE) by 0.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 136,164 shares of the basic materials company’s stock after selling 1,183 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.06% of Nucor worth $26,947,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Alps Advisors Inc. raised its holdings in shares of Nucor by 3.5% during the 3rd quarter. Alps Advisors Inc. now owns 2,066 shares of the basic materials company’s stock valued at $323,000 after buying an additional 69 shares in the last quarter. Harbour Investments Inc. raised its holdings in shares of Nucor by 17.3% during the third quarter. Harbour Investments Inc. now owns 2,596 shares of the basic materials company’s stock valued at $406,000 after acquiring an additional 382 shares in the last quarter. Creative Planning raised its holdings in Nucor by 60.1% in the 3rd quarter. Creative Planning now owns 172,440 shares of the basic materials company’s stock worth $26,961,000 after purchasing an additional 64,716 shares in the last quarter. Integrated Advisors Network LLC lifted its position in shares of Nucor by 18.1% in the 3rd quarter. Integrated Advisors Network LLC now owns 2,071 shares of the basic materials company’s stock worth $324,000 after purchasing an additional 318 shares during the period. Finally, Diversified Trust Co boosted its stake in shares of Nucor by 3.1% during the 3rd quarter. Diversified Trust Co now owns 5,290 shares of the basic materials company’s stock valued at $827,000 after purchasing an additional 159 shares in the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NUE has been the subject of a number of research reports. Bank of America decreased their price objective on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. StockNews.com downgraded shares of Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Jefferies Financial Group began coverage on Nucor in a research report on Monday, May 20th. They set a “hold” rating and a $190.00 price objective for the company. BMO Capital Markets cut their target price on Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a research note on Monday, June 17th. Finally, JPMorgan Chase & Co. lowered their price target on Nucor from $190.00 to $180.00 and set a “neutral” rating for the company in a research report on Tuesday, June 11th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $189.50.

Nucor Stock Performance

NUE stock traded up $2.64 on Wednesday, hitting $152.89. The company had a trading volume of 724,117 shares, compared to its average volume of 1,456,256. The company has a current ratio of 4.02, a quick ratio of 2.48 and a debt-to-equity ratio of 0.31. Nucor Co. has a 12-month low of $140.07 and a 12-month high of $203.00. The stock has a market cap of $36.66 billion, a price-to-earnings ratio of 8.84 and a beta of 1.57. The stock’s 50-day simple moving average is $163.44 and its 200 day simple moving average is $176.86.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). Nucor had a return on equity of 19.62% and a net margin of 12.40%. The firm had revenue of $8.14 billion during the quarter, compared to analysts’ expectations of $8.26 billion. During the same quarter last year, the business earned $4.45 earnings per share. The business’s quarterly revenue was down 6.6% on a year-over-year basis. As a group, equities research analysts expect that Nucor Co. will post 10.84 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, June 28th will be given a dividend of $0.54 per share. The ex-dividend date is Friday, June 28th. This represents a $2.16 annualized dividend and a yield of 1.41%. Nucor’s dividend payout ratio (DPR) is 12.71%.

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.