Mizuho Securities USA LLC Acquires 1,576,695 Shares of Nucor Co. (NYSE:NUE)

Mizuho Securities USA LLC raised its holdings in shares of Nucor Co. (NYSE:NUE) by 8,530.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,595,179 shares of the basic materials company’s stock after buying an additional 1,576,695 shares during the period. Nucor comprises 0.6% of Mizuho Securities USA LLC’s portfolio, making the stock its 24th largest holding. Mizuho Securities USA LLC’s holdings in Nucor were worth $239,819,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. McClarren Financial Advisors Inc. increased its position in Nucor by 129.0% in the second 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 in the last quarter. Ashton Thomas Securities LLC bought a new position in Nucor in the 3rd quarter worth $26,000. Coastline Trust Co purchased a new position in shares of Nucor in the third quarter valued at about $29,000. Brown Lisle Cummings Inc. purchased a new stake in shares of Nucor during the third quarter worth about $30,000. Finally, Salomon & Ludwin LLC lifted its holdings in Nucor by 45.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Transactions at Nucor

In other Nucor news, EVP Kenneth Rex Query sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total value of $1,321,200.00. Following the sale, the executive vice president now owns 98,770 shares in the company, valued at approximately $14,499,436. This represents a 8.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Leon J. Topalian sold 11,000 shares of Nucor stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the transaction, the chief executive officer now directly owns 172,136 shares of the company’s stock, valued at approximately $29,109,918.96. This trade represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,680 shares of company stock worth $4,773,724. Company insiders own 0.46% of the company’s stock.

Nucor Stock Up 0.5 %

Shares of NYSE NUE opened at $147.08 on Friday. The stock has a market capitalization of $34.54 billion, a PE ratio of 14.21 and a beta of 1.55. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. Nucor Co. has a 12-month low of $133.42 and a 12-month high of $203.00. The stock’s fifty day simple moving average is $148.88 and its two-hundred day simple moving average is $154.96.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.09. The business had revenue of $7.44 billion for the quarter, compared to analysts’ expectations of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The company’s revenue was down 15.2% compared to the same quarter last year. During the same period last year, the business earned $4.57 EPS. As a group, analysts expect that Nucor Co. will post 8.52 EPS for the current fiscal year.

Nucor Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on NUE. BMO Capital Markets lowered their target price on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday, September 18th. Morgan Stanley decreased their price objective on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their price target on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, Argus upgraded Nucor to a “strong-buy” rating in a report on Monday, August 26th. Three analysts have rated the stock with a hold rating, five have given 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 an average 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.