Sumitomo Mitsui DS Asset Management Company Ltd Purchases 371 Shares of Nucor Co. (NYSE:NUE)

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Nucor Co. (NYSE:NUEGet Rating) by 2.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,624 shares of the basic materials company’s stock after acquiring an additional 371 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Nucor were worth $1,945,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Westside Investment Management Inc. bought a new position in shares of Nucor during the 4th quarter worth about $25,000. CFS Investment Advisory Services LLC boosted its position in shares of Nucor by 14,509.4% during the 1st quarter. CFS Investment Advisory Services LLC now owns 4,061,713 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 4,033,911 shares in the last quarter. Riverview Trust Co bought a new position in shares of Nucor during the 1st quarter worth about $28,000. Capital Advisory Group Advisory Services LLC bought a new position in shares of Nucor during the 1st quarter worth about $30,000. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new position in shares of Nucor during the 1st quarter worth about $30,000. Institutional investors own 79.07% of the company’s stock.

Insider Transactions at Nucor

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

Wall Street Analyst Weigh In

NUE has been the topic of a number of research analyst reports. Morgan Stanley cut their price objective on shares of Nucor from $121.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Monday, July 25th. UBS Group set a $120.00 price target on shares of Nucor in a research report on Monday, June 20th. Citigroup raised their price target on shares of Nucor to $145.00 in a research report on Tuesday, September 13th. StockNews.com cut shares of Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, September 13th. Finally, Credit Suisse Group dropped their price target on shares of Nucor from $165.00 to $140.00 and set an “outperform” rating on the stock in a research report on Friday, September 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Nucor currently has a consensus rating of “Hold” and an average target price of $132.78.

Nucor Trading Down 1.5 %

NYSE:NUE opened at $108.85 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.62. The firm has a market cap of $28.50 billion, a price-to-earnings ratio of 3.34 and a beta of 1.39. Nucor Co. has a 52 week low of $88.50 and a 52 week high of $187.90. The firm has a 50-day moving average price of $131.13 and a two-hundred day moving average price of $132.80.

Nucor (NYSE:NUEGet Rating) last posted its quarterly earnings data on Thursday, July 21st. The basic materials company reported $9.67 EPS for the quarter, beating the consensus estimate of $8.91 by $0.76. The firm had revenue of $11.79 billion during the quarter, compared to analyst estimates of $11.59 billion. Nucor had a net margin of 21.03% and a return on equity of 57.78%. The company’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same quarter last year, the business posted $5.04 EPS. On average, equities analysts expect 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 paid 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 1.84%. Nucor’s payout ratio is currently 6.14%.

About Nucor

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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.

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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