Trinity Street Asset Management LLP Has $23.76 Million Holdings in Nucor Co. (NYSE:NUE)

Trinity Street Asset Management LLP increased its position in shares of Nucor Co. (NYSE:NUE) by 30.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 158,035 shares of the basic materials company’s stock after buying an additional 36,496 shares during the period. Nucor accounts for approximately 2.4% of Trinity Street Asset Management LLP’s investment portfolio, making the stock its 11th biggest position. Trinity Street Asset Management LLP owned approximately 0.07% of Nucor worth $23,759,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Chilton Capital Management LLC boosted its stake in shares of Nucor by 94.2% during the 1st quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 65 shares during the period. Central Pacific Bank Trust Division bought a new position in Nucor during the first quarter worth $28,000. Salomon & Ludwin LLC acquired a new position in shares of Nucor in the first quarter valued at $31,000. McClarren Financial Advisors Inc. increased its holdings in shares of Nucor by 129.0% in the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 89 shares during the last quarter. Finally, Brown Lisle Cummings Inc. bought a new position in shares of Nucor in the third quarter valued at about $30,000. 76.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on NUE shares. BMO Capital Markets decreased their price target on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 18th. Morgan Stanley decreased their target price on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their price target on Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, Argus raised shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $190.57.

Insider Transactions at Nucor

In related news, EVP Daniel R. Needham sold 8,624 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total value of $1,379,840.00. Following the sale, the executive vice president now directly owns 99,049 shares of the company’s stock, valued at $15,847,840. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.64% of the stock is owned by insiders.

Nucor Price Performance

NUE stock traded up $1.06 during midday trading on Tuesday, reaching $148.79. The company had a trading volume of 472,852 shares, compared to its average volume of 1,496,580. Nucor Co. has a 1-year low of $133.42 and a 1-year high of $203.00. The stock has a 50 day moving average price of $147.73 and a 200-day moving average price of $157.94. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61. The company has a market capitalization of $35.31 billion, a price-to-earnings ratio of 14.27 and a beta of 1.55.

Nucor (NYSE:NUE) last issued its earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.40 by $0.09. The company had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The business’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same period in the previous year, the company earned $4.57 EPS. Equities research analysts expect that Nucor Co. will post 8.65 earnings per share for the current year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be paid a $0.54 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.45%. Nucor’s payout ratio is 20.87%.

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.