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

Sumitomo Mitsui DS Asset Management Company Ltd cut its stake in Nucor Co. (NYSE:NUE) by 0.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Valley National Advisers Inc. boosted its stake in shares of Nucor by 716.7% in the fourth quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 172 shares during the period. Householder Group Estate & Retirement Specialist LLC boosted its position in Nucor by 36.6% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 220 shares of the basic materials company’s stock valued at $38,000 after buying an additional 59 shares during the last quarter. OFI Invest Asset Management purchased a new position in Nucor in the 3rd quarter valued at about $40,000. Exchange Traded Concepts LLC grew its stake in shares of Nucor by 2,410.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 251 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 241 shares in the last quarter. Finally, Hexagon Capital Partners LLC increased its position in shares of Nucor by 41.7% during the third quarter. Hexagon Capital Partners LLC now owns 306 shares of the basic materials company’s stock worth $48,000 after acquiring an additional 90 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NUE. JPMorgan Chase & Co. raised their price objective on Nucor from $180.00 to $195.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Citigroup raised shares of Nucor from a “neutral” rating to a “buy” rating and raised their price target for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. UBS Group assumed 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. Finally, StockNews.com raised shares of Nucor from a “hold” rating to a “buy” rating in a report on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $192.83.

Nucor Stock Up 0.2 %

NUE stock opened at $191.74 on Tuesday. The firm has a market cap of $46.01 billion, a price-to-earnings ratio of 10.66 and a beta of 1.61. Nucor Co. has a 1-year low of $129.79 and a 1-year high of $203.00. The firm has a fifty day moving average price of $191.30 and a two-hundred day moving average price of $174.06. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.57 and a quick ratio of 2.35.

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

Nucor Dividend Announcement

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

Insider Transactions at Nucor

In other Nucor news, EVP Douglas J. Jellison sold 19,506 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the completion of the transaction, the executive vice president now directly owns 120,738 shares of the company’s stock, valued at approximately $23,351,936.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Douglas J. Jellison sold 19,506 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the completion of the transaction, the executive vice president now directly owns 120,738 shares in the company, valued at $23,351,936.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kenneth Rex Query sold 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $186.37, for a total value of $1,025,035.00. Following the completion of the sale, the executive vice president now owns 85,326 shares in the company, valued at $15,902,206.62. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,151 shares of company stock worth $7,308,683. Insiders own 0.64% of the company’s stock.

Nucor 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.