Truist Financial Corp Has $15.66 Million Stake in Nucor Co. (NYSE:NUE)

Truist Financial Corp trimmed its holdings in shares of Nucor Co. (NYSE:NUE) by 3.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 134,166 shares of the basic materials company’s stock after selling 4,927 shares during the period. Truist Financial Corp’s holdings in Nucor were worth $15,659,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of NUE. Ashton Thomas Securities LLC acquired a new position in Nucor during the third quarter worth $26,000. Coastline Trust Co acquired a new position in Nucor during the third quarter worth $29,000. Crews Bank & Trust acquired a new position in Nucor during the fourth quarter worth $29,000. New Wave Wealth Advisors LLC acquired a new position in Nucor during the fourth quarter worth $33,000. Finally, Salomon & Ludwin LLC boosted its holdings in Nucor by 45.6% during the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 72 shares during the period. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor Stock Down 1.9 %

NYSE NUE opened at $139.85 on Thursday. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. The stock’s 50 day moving average is $124.79 and its two-hundred day moving average is $139.99. The company has a market capitalization of $32.84 billion, a price-to-earnings ratio of 16.63, a PEG ratio of 0.95 and a beta of 1.60. Nucor Co. has a 1-year low of $112.25 and a 1-year high of $203.00.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 earnings per share 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 quarter in the prior year, the business earned $3.16 EPS. Equities analysts forecast that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Monday, March 31st. Nucor’s payout ratio is 26.16%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Morgan Stanley lowered their price target 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 raised Nucor from a “sell” rating to a “hold” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. lowered their price target on Nucor from $152.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. The Goldman Sachs Group assumed coverage on Nucor in a research report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price target on the stock. Finally, UBS Group reaffirmed a “neutral” rating and issued a $156.00 price target (down from $171.00) on shares of Nucor in a research report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.13.

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.