Sumitomo Mitsui DS Asset Management Company Ltd Reduces Holdings in Nucor Co. (NYSE:NUE)

Sumitomo Mitsui DS Asset Management Company Ltd reduced its stake in Nucor Co. (NYSE:NUE) by 0.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,218 shares of the basic materials company’s stock after selling 78 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Nucor were worth $5,259,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. PFG Advisors grew its stake in Nucor by 21.3% during the 3rd quarter. PFG Advisors now owns 2,359 shares of the basic materials company’s stock valued at $369,000 after purchasing an additional 415 shares during the last quarter. Summit Global Investments purchased a new stake in Nucor in the third quarter valued at approximately $235,000. Douglas Lane & Associates LLC boosted its position in Nucor by 109.2% in the third quarter. Douglas Lane & Associates LLC now owns 56,015 shares of the basic materials company’s stock valued at $8,758,000 after buying an additional 29,241 shares during the last quarter. 1900 Wealth Management LLC acquired a new position in Nucor in the 3rd quarter worth approximately $212,000. Finally, Avior Wealth Management LLC raised its position in Nucor by 310.9% during the 3rd quarter. Avior Wealth Management LLC now owns 1,360 shares of the basic materials company’s stock worth $213,000 after buying an additional 1,029 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Nucor news, insider Michael D. Keller sold 3,145 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the transaction, the insider now owns 24,873 shares in the company, valued at approximately $4,817,153.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Kenneth Rex Query sold 5,500 shares of Nucor stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the transaction, the executive vice president now owns 85,326 shares in the company, valued at $15,902,206.62. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael D. Keller sold 3,145 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the completion of the sale, the insider now directly owns 24,873 shares of the company’s stock, valued at $4,817,153.91. The disclosure for this sale can be found here. Insiders have sold a total of 38,151 shares of company stock worth $7,308,683 over the last quarter. 0.64% of the stock is currently owned by corporate insiders.

Nucor Stock Up 0.2 %

Nucor stock opened at $191.74 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.57 and a quick ratio of 2.35. The stock has a market capitalization of $46.01 billion, a PE ratio of 10.66 and a beta of 1.61. The business has a 50 day simple moving average of $191.30 and a 200-day simple moving average of $174.06. Nucor Co. has a 12 month low of $129.79 and a 12 month high of $203.00.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, April 22nd. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.60 by ($0.14). The company had revenue of $8.14 billion for the quarter, compared to analysts’ expectations of $8.26 billion. Nucor had a net margin of 13.03% and a return on equity of 21.42%. The business’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the previous year, the business earned $4.45 earnings per share. On average, analysts anticipate that Nucor Co. will post 12.93 EPS for the current fiscal year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.13%. Nucor’s payout ratio is currently 12.01%.

Analysts Set New Price Targets

Several analysts have recently commented on NUE shares. StockNews.com raised shares of Nucor from a “hold” rating to a “buy” rating in a report on Wednesday, April 10th. UBS Group began coverage on shares of Nucor in a report on Tuesday, January 16th. They issued a “buy” rating and a $210.00 price target on the stock. Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $180.00 to $240.00 in a research note on Wednesday, March 13th. Finally, JPMorgan Chase & Co. boosted their price objective on Nucor from $180.00 to $195.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $192.83.

Nucor Company 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.