First Midwest Bank Trust Division trimmed its position in Nucor Co. (NYSE:NUE) by 4.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,705 shares of the basic materials company’s stock after selling 1,401 shares during the quarter. First Midwest Bank Trust Division’s holdings in Nucor were worth $1,733,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Independence Bank of Kentucky grew its holdings in shares of Nucor by 28.3% during the first quarter. Independence Bank of Kentucky now owns 1,813 shares of the basic materials company’s stock worth $106,000 after purchasing an additional 400 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Nucor by 366.0% during the first quarter. SG Americas Securities LLC now owns 429,342 shares of the basic materials company’s stock worth $25,052,000 after purchasing an additional 337,214 shares during the last quarter. Capital Investment Counsel Inc grew its holdings in shares of Nucor by 5.9% during the first quarter. Capital Investment Counsel Inc now owns 6,780 shares of the basic materials company’s stock worth $396,000 after purchasing an additional 375 shares during the last quarter. Norris Perne & French LLP MI bought a new stake in shares of Nucor during the first quarter worth $370,000. Finally, CNB Bank grew its holdings in shares of Nucor by 17.9% during the first quarter. CNB Bank now owns 10,712 shares of the basic materials company’s stock worth $625,000 after purchasing an additional 1,630 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.
NUE has been the topic of several research analyst reports. Standpoint Research upgraded Nucor from a “hold” rating to a “buy” rating in a report on Monday, March 18th. UBS Group set a $59.00 target price on Nucor and gave the stock a “hold” rating in a report on Wednesday, May 8th. ValuEngine upgraded Nucor from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Longbow Research cut Nucor from a “buy” rating to a “neutral” rating in a report on Monday, March 11th. Finally, KeyCorp decreased their price target on Nucor from $70.00 to $66.00 and set an “overweight” rating on the stock in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $69.25.
Nucor stock traded down $0.80 during mid-day trading on Wednesday, hitting $52.88. The stock had a trading volume of 1,791,576 shares, compared to its average volume of 2,407,460. Nucor Co. has a 12 month low of $49.79 and a 12 month high of $68.84. The company has a quick ratio of 1.64, a current ratio of 3.37 and a debt-to-equity ratio of 0.40. The stock has a market cap of $16.24 billion, a price-to-earnings ratio of 6.94, a P/E/G ratio of 0.77 and a beta of 1.46.
Nucor (NYSE:NUE) last released its earnings results on Tuesday, April 23rd. The basic materials company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.05. Nucor had a return on equity of 24.86% and a net margin of 9.80%. The firm had revenue of $6.10 billion for the quarter, compared to analyst estimates of $6.05 billion. During the same quarter in the prior year, the firm posted $1.17 earnings per share. The company’s quarterly revenue was up 9.5% on a year-over-year basis. As a group, sell-side analysts expect that Nucor Co. will post 5.74 EPS for the current year.
In other news, Chairman John J. Ferriola sold 65,061 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $56.20, for a total transaction of $3,656,428.20. Following the sale, the chairman now owns 403,735 shares of the company’s stock, valued at $22,689,907. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Raymond S. Napolitan, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $58.28, for a total value of $582,800.00. Following the sale, the insider now directly owns 96,778 shares in the company, valued at approximately $5,640,221.84. The disclosure for this sale can be found here. Insiders sold 76,314 shares of company stock worth $4,310,637 in the last three months. Insiders own 0.96% of the company’s stock.
Nucor Company Profile
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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