Truist Financial Corp Reduces Stock Position in Nucor Co. (NYSE:NUE)

Truist Financial Corp decreased its position in Nucor Co. (NYSE:NUE - Free Report) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 134,166 shares of the basic materials company's stock after selling 4,927 shares during the period. Truist Financial Corp owned about 0.06% of Nucor worth $15,659,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of NUE. State Street Corp lifted its position in shares of Nucor by 2.9% during the third quarter. State Street Corp now owns 11,427,899 shares of the basic materials company's stock worth $1,724,117,000 after acquiring an additional 326,181 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Nucor by 1.3% during the third quarter. Geode Capital Management LLC now owns 5,861,945 shares of the basic materials company's stock worth $883,732,000 after acquiring an additional 74,569 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Nucor by 19.8% during the third quarter. Pacer Advisors Inc. now owns 3,456,484 shares of the basic materials company's stock worth $519,648,000 after acquiring an additional 571,682 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Nucor by 25.6% during the fourth quarter. Nordea Investment Management AB now owns 1,758,753 shares of the basic materials company's stock worth $205,282,000 after acquiring an additional 358,721 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Nucor by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,612,216 shares of the basic materials company's stock worth $242,381,000 after acquiring an additional 45,467 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company's stock.

Nucor Price Performance

NUE traded down $4.77 during trading on Friday, reaching $135.19. The stock had a trading volume of 2,277,287 shares, compared to its average volume of 3,119,081. The stock has a market cap of $31.74 billion, a PE ratio of 16.07, a PEG ratio of 0.96 and a beta of 1.60. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51. Nucor Co. has a one year low of $112.25 and a one year high of $203.00. The business has a 50-day moving average of $125.19 and a 200-day moving average of $139.89.

Nucor (NYSE:NUE - Get Free Report) last released its earnings results on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, beating analysts' consensus estimates of $0.94 by $0.28. Nucor had a return on equity of 9.85% and a net margin of 6.60%. During the same period in the previous year, the firm earned $3.16 EPS. As a group, equities research analysts anticipate that Nucor Co. will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.55 per share. The ex-dividend date is Monday, March 31st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.63%. Nucor's dividend payout ratio is currently 26.16%.

Analyst Upgrades and Downgrades

NUE has been the topic of several recent research reports. Morgan Stanley dropped their target price on Nucor from $166.00 to $154.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. StockNews.com upgraded Nucor from a "sell" rating to a "hold" rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. lowered their price objective on Nucor from $152.00 to $150.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 29th. Citigroup lowered their price objective on Nucor from $240.00 to $160.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Finally, UBS Group reiterated a "neutral" rating and issued a $156.00 price objective (down previously from $171.00) on shares of Nucor in a research report on Thursday, December 12th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Nucor currently has an average rating of "Moderate Buy" and a consensus target price of $163.13.

About Nucor

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.