MU Investments Co. Ltd. Cuts Holdings in Nucor Co. (NYSE:NUE)

MU Investments Co. Ltd. trimmed its position in Nucor Co. (NYSE:NUEGet Rating) by 5.2% during the second quarter, HoldingsChannel.com reports. The firm owned 33,630 shares of the basic materials company’s stock after selling 1,840 shares during the quarter. Nucor accounts for approximately 4.8% of MU Investments Co. Ltd.’s investment portfolio, making the stock its 4th biggest holding. MU Investments Co. Ltd.’s holdings in Nucor were worth $3,573,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Riverview Trust Co bought a new stake in shares of Nucor in the first quarter valued at about $28,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new stake in shares of Nucor in the first quarter valued at about $30,000. Capital Advisory Group Advisory Services LLC bought a new stake in shares of Nucor in the first quarter valued at about $30,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in shares of Nucor in the first quarter valued at about $32,000. Finally, Riggs Asset Managment Co. Inc. acquired a new stake in shares of Nucor in the first quarter valued at about $33,000. 79.07% of the stock is currently owned by institutional investors.

Nucor Trading Down 0.2 %

Shares of NUE stock opened at $117.08 on Monday. The company has a current ratio of 2.62, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37. The stock has a market cap of $30.65 billion, a P/E ratio of 3.59 and a beta of 1.39. The stock has a 50 day simple moving average of $130.80 and a 200 day simple moving average of $133.39. Nucor Co. has a 1 year low of $88.50 and a 1 year high of $187.90.

Nucor (NYSE:NUEGet Rating) last released its earnings results on Thursday, July 21st. The basic materials company reported $9.67 earnings per share for the quarter, topping the consensus estimate of $8.91 by $0.76. The firm had revenue of $11.79 billion during the quarter, compared to analysts’ expectations of $11.59 billion. Nucor had a return on equity of 57.78% and a net margin of 21.03%. The company’s quarterly revenue was up 34.2% on a year-over-year basis. During the same period in the prior year, the company earned $5.04 earnings per share. On average, research analysts predict that Nucor Co. will post 31.01 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $2.00 annualized dividend and a dividend yield of 1.71%. Nucor’s dividend payout ratio (DPR) is presently 6.14%.

Insider Transactions at Nucor

In related news, EVP Allen C. Behr sold 3,407 shares of the stock in a transaction on Monday, July 25th. The stock was sold at an average price of $122.17, for a total value of $416,233.19. Following the completion of the sale, the executive vice president now directly owns 64,087 shares in the company, valued at $7,829,508.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Allen C. Behr sold 3,407 shares of the stock in a transaction on Monday, July 25th. The stock was sold at an average price of $122.17, for a total value of $416,233.19. Following the completion of the sale, the executive vice president now directly owns 64,087 shares in the company, valued at $7,829,508.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kenneth Rex Query sold 5,000 shares of the stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $141.64, for a total value of $708,200.00. Following the completion of the sale, the executive vice president now owns 76,100 shares of the company’s stock, valued at $10,778,804. The disclosure for this sale can be found here. Company insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Citigroup lifted their target price on Nucor to $145.00 in a research report on Tuesday, September 13th. Credit Suisse Group lowered their target price on Nucor from $165.00 to $140.00 and set an “outperform” rating on the stock in a research report on Friday. Morgan Stanley lowered their target price on Nucor from $121.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Monday, July 25th. StockNews.com downgraded Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, September 13th. Finally, UBS Group set a $120.00 price target on Nucor in a research report on Monday, June 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Nucor presently has a consensus rating of “Hold” and an average target price of $132.78.

Nucor Profile

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Nucor Corporation manufactures and sells steel and steel products. The company's 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 products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.

Further Reading

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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