First Financial Bank Trust Division Sells 180 Shares of Nucor Corporation $NUE

First Financial Bank Trust Division reduced its stake in Nucor Corporation (NYSE:NUE) by 3.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,235 shares of the basic materials company’s stock after selling 180 shares during the quarter. First Financial Bank Trust Division’s holdings in Nucor were worth $678,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Nucor by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 28,959,327 shares of the basic materials company’s stock worth $3,484,965,000 after purchasing an additional 745,671 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Nucor by 18.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,309,452 shares of the basic materials company’s stock valued at $277,920,000 after acquiring an additional 355,364 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Nucor by 5.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,772,831 shares of the basic materials company’s stock valued at $213,342,000 after acquiring an additional 92,363 shares in the last quarter. Diamond Hill Capital Management Inc. bought a new position in Nucor in the 1st quarter valued at approximately $194,804,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Nucor by 16.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,610,933 shares of the basic materials company’s stock valued at $193,863,000 after acquiring an additional 226,343 shares in the last quarter. 76.48% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Kenneth Rex Query sold 10,000 shares of the firm’s stock in a transaction 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 transaction, the executive vice president directly owned 94,080 shares of the company’s stock, valued at approximately $12,265,209.60. This trade represents a 9.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael D. Keller sold 6,088 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $148.41, for a total value of $903,520.08. Following the completion of the transaction, the insider directly owned 22,464 shares in the company, valued at approximately $3,333,882.24. This represents a 21.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,397 shares of company stock valued at $6,763,814 in the last 90 days. 0.46% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Nucor from $143.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, July 14th. UBS Group lowered their price objective on Nucor from $153.00 to $147.00 and set a “buy” rating on the stock in a research report on Thursday, May 29th. Wells Fargo & Company raised Nucor to a “hold” rating in a research report on Thursday, August 14th. Jefferies Financial Group upgraded shares of Nucor from a “hold” rating to a “buy” rating and boosted their target price for the company from $135.00 to $170.00 in a research note on Thursday, July 31st. Finally, BMO Capital Markets raised Nucor from a “market perform” rating to an “outperform” rating and increased their price target for the company from $140.00 to $145.00 in a report on Monday, June 2nd. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Nucor presently has an average rating of “Moderate Buy” and a consensus price target of $155.78.

Nucor Price Performance

NYSE NUE opened at $141.47 on Friday. The business’s fifty day moving average price is $143.11 and its 200-day moving average price is $128.45. The stock has a market capitalization of $32.47 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 0.91 and a beta of 1.76. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.83 and a quick ratio of 1.51. Nucor Corporation has a 1-year low of $97.59 and a 1-year high of $170.52.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, July 28th. The basic materials company reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.06. Nucor had a return on equity of 6.65% and a net margin of 4.21%.The firm had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.47 billion. During the same period in the prior year, the firm earned $2.68 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. On average, equities analysts predict that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 30th. Nucor’s dividend payout ratio (DPR) is currently 39.71%.

Nucor Company 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.