Plato Investment Management Ltd Has $51,000 Stock Holdings in Nucor Co. (NYSE:NUE)

Plato Investment Management Ltd lessened its holdings in shares of Nucor Co. (NYSE:NUE) by 94.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 321 shares of the basic materials company’s stock after selling 5,818 shares during the period. Plato Investment Management Ltd’s holdings in Nucor were worth $51,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Rise Advisors LLC acquired a new stake in Nucor during the 1st quarter worth $27,000. Chilton Capital Management LLC grew its holdings in shares of Nucor by 94.2% in the 1st 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 position in shares of Nucor in the 1st quarter valued at $28,000. Tompkins Financial Corp grew its holdings in shares of Nucor by 208.0% in the 1st quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after buying an additional 104 shares during the period. Finally, Salomon & Ludwin LLC acquired a new position in shares of Nucor in the 1st quarter valued at $31,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Bank of America decreased their price target on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Morgan Stanley raised shares of Nucor from an “equal weight” rating to an “overweight” rating and decreased their price target for the company from $187.00 to $176.00 in a report on Thursday, August 15th. BMO Capital Markets decreased their price target on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a report on Monday, June 17th. Argus raised shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Finally, JPMorgan Chase & Co. raised shares of Nucor from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $170.00 to $174.00 in a research report on Monday, September 9th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.00.

Insiders Place Their Bets

In other news, EVP Daniel R. Needham sold 8,624 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.46% of the company’s stock.

Nucor Trading Down 0.5 %

Shares of NYSE:NUE opened at $142.92 on Tuesday. The company’s 50-day moving average price is $150.52 and its two-hundred day moving average price is $167.06. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85. Nucor Co. has a one year low of $133.42 and a one year high of $203.00. The stock has a market capitalization of $34.27 billion, a PE ratio of 8.41 and a beta of 1.55.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, topping the consensus estimate of $2.31 by $0.37. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The firm had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $7.69 billion. During the same period in the previous year, the firm posted $5.81 EPS. The company’s revenue for the quarter was down 15.2% on a year-over-year basis. On average, equities analysts forecast that Nucor Co. will post 9.95 EPS for the current fiscal year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be given a dividend of $0.54 per share. The ex-dividend date is Friday, September 27th. This represents a $2.16 annualized dividend and a yield of 1.51%. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

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.