Truist Financial Corp Sells 11,428 Shares of Nucor Co. (NYSE:NUE)

Truist Financial Corp decreased its holdings in shares of Nucor Co. (NYSE:NUE) by 6.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 174,607 shares of the basic materials company’s stock after selling 11,428 shares during the quarter. Truist Financial Corp’s holdings in Nucor were worth $30,389,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Keybank National Association OH grew its holdings in Nucor by 3.4% in the 3rd quarter. Keybank National Association OH now owns 19,246 shares of the basic materials company’s stock valued at $3,009,000 after buying an additional 639 shares during the last quarter. Compagnie Lombard Odier SCmA acquired a new stake in Nucor in the 4th quarter valued at approximately $3,481,000. AIA Group Ltd grew its holdings in Nucor by 53.2% in the 4th quarter. AIA Group Ltd now owns 13,226 shares of the basic materials company’s stock valued at $2,302,000 after buying an additional 4,592 shares during the last quarter. Sapient Capital LLC acquired a new stake in Nucor in the 4th quarter valued at approximately $1,230,000. Finally, abrdn plc grew its holdings in Nucor by 41.7% in the 4th quarter. abrdn plc now owns 154,745 shares of the basic materials company’s stock valued at $26,932,000 after buying an additional 45,521 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. JPMorgan Chase & Co. decreased their price objective on Nucor from $195.00 to $190.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. StockNews.com lowered Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. BMO Capital Markets decreased their price objective on Nucor from $210.00 to $200.00 and set a “market perform” rating on the stock in a report on Wednesday, April 24th. Citigroup raised Nucor from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $180.00 to $240.00 in a report on Wednesday, March 13th. Finally, UBS Group assumed coverage on Nucor in a report on Tuesday, January 16th. They set a “buy” rating and a $210.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $193.14.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Allen C. Behr sold 10,000 shares of Nucor stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $190.19, for a total value of $1,901,900.00. Following the completion of the transaction, the executive vice president now owns 80,902 shares in the company, valued at approximately $15,386,751.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Kenneth Rex Query sold 5,500 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the completion of the sale, the executive vice president now owns 85,326 shares in the company, valued at $15,902,206.62. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Allen C. Behr sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $190.19, for a total value of $1,901,900.00. Following the sale, the executive vice president now owns 80,902 shares of the company’s stock, valued at approximately $15,386,751.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,151 shares of company stock worth $7,308,683. 0.64% of the stock is currently owned by insiders.

Nucor Price Performance

Nucor stock opened at $175.42 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.02 and a quick ratio of 2.48. The company has a market capitalization of $42.10 billion, a PE ratio of 10.32 and a beta of 1.61. Nucor Co. has a one year low of $129.79 and a one year high of $203.00. The business has a 50 day simple moving average of $190.62 and a 200 day simple moving average of $174.59.

Nucor (NYSE:NUE) last posted its earnings results on Monday, April 22nd. The basic materials company reported $3.46 EPS for the quarter, missing the consensus estimate of $3.62 by ($0.16). The company had revenue of $8.14 billion for the quarter, compared to the consensus estimate of $8.26 billion. Nucor had a return on equity of 19.62% and a net margin of 12.40%. Nucor’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter last year, the business earned $4.45 EPS. On average, sell-side analysts forecast that Nucor Co. will post 12.5 EPS for the current fiscal year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, March 28th will be given a $0.54 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $2.16 annualized dividend and a yield of 1.23%. Nucor’s payout ratio is 12.71%.

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.