Nucor Corporation $NUE Shares Sold by Diversified Trust Co

Key Points

• Diversified Trust Co significantly reduced its holdings in Nucor Corporation, selling 5,192 shares and leaving it with a total of 1,808 shares, valued at $234,000.
• Insider Michael D. Keller sold 6,088 shares at an average price of $148.41, decreasing his position by 21.32%, while the company has seen a total of 31,309 shares sold by insiders worth over $4.5 million in the last three months.
• Analysts have mixed outlooks for Nucor, with Wells Fargo lowering the target price to $140 while Jefferies upgraded the stock to a "buy" rating with a target of $170, indicating a current consensus of "Moderate Buy" with an average target of $156.20.

Diversified Trust Co decreased its holdings in shares of Nucor Corporation (NYSE:NUE - Free Report) by 74.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,808 shares of the basic materials company's stock after selling 5,192 shares during the period. Diversified Trust Co's holdings in Nucor were worth $234,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Highline Wealth Partners LLC lifted its position in Nucor by 2.6% during the 1st quarter. Highline Wealth Partners LLC now owns 3,512 shares of the basic materials company's stock worth $423,000 after acquiring an additional 90 shares during the period. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Nucor by 2.2% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 4,247 shares of the basic materials company's stock worth $511,000 after purchasing an additional 93 shares during the period. Diligent Investors LLC lifted its holdings in shares of Nucor by 4.6% during the first quarter. Diligent Investors LLC now owns 2,296 shares of the basic materials company's stock worth $276,000 after purchasing an additional 102 shares during the period. Denali Advisors LLC lifted its stake in shares of Nucor by 2.5% in the 1st quarter. Denali Advisors LLC now owns 4,117 shares of the basic materials company's stock worth $495,000 after acquiring an additional 102 shares during the period. Finally, Horizon Advisory Services Inc. lifted its stake in shares of Nucor by 6.1% in the 1st quarter. Horizon Advisory Services Inc. now owns 1,962 shares of the basic materials company's stock worth $236,000 after acquiring an additional 112 shares during the period. Institutional investors and hedge funds own 76.48% of the company's stock.

Insider Buying and Selling at Nucor

In related news, insider Michael D. Keller sold 6,088 shares of Nucor stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $148.41, for a total transaction of $903,520.08. Following the completion of the transaction, the insider directly owned 22,464 shares in the company, valued at $3,333,882.24. The trade was a 21.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Allen C. Behr sold 8,021 shares of Nucor stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $143.38, for a total value of $1,150,050.98. Following the transaction, the executive vice president owned 82,703 shares of the company's stock, valued at $11,857,956.14. This represents a 8.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,309 shares of company stock worth $4,553,771. 0.46% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NUE shares. Wells Fargo & Company reduced their target price on shares of Nucor from $146.00 to $140.00 and set an "equal weight" rating for the company in a research note on Thursday, September 18th. Morgan Stanley raised their price objective on shares of Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a research report on Friday, June 20th. UBS Group reduced their price target on Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Jefferies Financial Group raised Nucor from a "hold" rating to a "buy" rating and raised their price target for the company from $135.00 to $170.00 in a report on Thursday, July 31st. Finally, Bank of America raised their target price on Nucor from $150.00 to $165.00 and gave the company a "buy" rating in a report on Monday, September 15th. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $156.20.

Nucor Price Performance

NUE stock opened at $136.16 on Thursday. The firm has a 50 day moving average of $142.71 and a 200-day moving average of $128.68. The company has a market cap of $31.25 billion, a price-to-earnings ratio of 24.58, a PEG ratio of 0.93 and a beta of 1.76. Nucor Corporation has a 12-month low of $97.59 and a 12-month high of $170.52. The company has a current ratio of 2.83, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31.

Nucor (NYSE:NUE - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The basic materials company reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.06. The firm had revenue of $8.46 billion during the quarter, compared to analysts' expectations of $8.47 billion. Nucor had a return on equity of 6.65% and a net margin of 4.21%.Nucor's revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.68 earnings per share. As a group, equities analysts expect that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.55 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.20 dividend on an annualized basis and a yield of 1.6%. Nucor's payout ratio is presently 39.71%.

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.

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