Trinity Street Asset Management LLP Acquires 36,496 Shares of Nucor Co. (NYSE:NUE)

Trinity Street Asset Management LLP boosted its stake in shares of Nucor Co. (NYSE:NUE - Free Report) by 30.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 158,035 shares of the basic materials company's stock after acquiring an additional 36,496 shares during the period. Nucor accounts for about 2.4% of Trinity Street Asset Management LLP's portfolio, making the stock its 11th biggest position. Trinity Street Asset Management LLP owned about 0.07% of Nucor worth $23,759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Chilton Capital Management LLC increased its stake in shares of Nucor by 94.2% in the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company's stock valued at $27,000 after buying an additional 65 shares during the period. Central Pacific Bank Trust Division acquired a new stake in Nucor in the first quarter valued at $28,000. Salomon & Ludwin LLC bought a new position in Nucor during the 1st quarter worth $31,000. McClarren Financial Advisors Inc. lifted its holdings in Nucor by 129.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company's stock worth $25,000 after buying an additional 89 shares during the period. Finally, Brown Lisle Cummings Inc. bought a new stake in shares of Nucor in the 3rd quarter valued at about $30,000. 76.48% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the firm's stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the transaction, the executive vice president now directly owns 99,049 shares in the company, valued at approximately $15,847,840. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.64% of the company's stock.

Nucor Stock Down 0.4 %

NUE traded down $0.53 during midday trading on Tuesday, hitting $147.20. The company had a trading volume of 1,486,548 shares, compared to its average volume of 1,502,475. The stock's 50 day moving average price is $147.73 and its 200 day moving average price is $157.94. Nucor Co. has a 52 week low of $133.42 and a 52 week high of $203.00. The company has a market capitalization of $34.94 billion, a price-to-earnings ratio of 14.27 and a beta of 1.55. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings data 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. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The firm had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. During the same quarter in the previous year, the company posted $4.57 earnings per share. The company's quarterly revenue was down 15.2% on a year-over-year basis. On average, research analysts anticipate that Nucor Co. will post 8.65 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.47%. Nucor's dividend payout ratio (DPR) is currently 20.87%.

Wall Street Analysts Forecast Growth

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

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.