Nucor Co. (NYSE:NUE) Shares Acquired by Global X Japan Co. Ltd.

Global X Japan Co. Ltd. grew its position in Nucor Co. (NYSE:NUE) by 12.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,726 shares of the basic materials company’s stock after acquiring an additional 297 shares during the period. Global X Japan Co. Ltd.’s holdings in Nucor were worth $410,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of NUE. Wellington Management Group LLP raised its position in shares of Nucor by 188.6% in the fourth quarter. Wellington Management Group LLP now owns 64,537 shares of the basic materials company’s stock worth $11,232,000 after acquiring an additional 42,178 shares during the period. Gateway Investment Advisers LLC raised its position in shares of Nucor by 3.5% in the first quarter. Gateway Investment Advisers LLC now owns 24,889 shares of the basic materials company’s stock worth $4,926,000 after acquiring an additional 839 shares during the period. Brookstone Capital Management raised its position in shares of Nucor by 19.4% in the first quarter. Brookstone Capital Management now owns 2,325 shares of the basic materials company’s stock worth $460,000 after acquiring an additional 378 shares during the period. Jessup Wealth Management Inc raised its position in shares of Nucor by 4.7% in the first quarter. Jessup Wealth Management Inc now owns 16,928 shares of the basic materials company’s stock worth $3,350,000 after acquiring an additional 758 shares during the period. Finally, Hennessy Advisors Inc. raised its position in shares of Nucor by 7.2% in the first quarter. Hennessy Advisors Inc. now owns 16,400 shares of the basic materials company’s stock worth $3,246,000 after acquiring an additional 1,100 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Stock Down 6.5 %

Shares of NYSE NUE opened at $146.03 on Wednesday. Nucor Co. has a 12-month low of $133.42 and a 12-month high of $203.00. The stock has a market cap of $35.01 billion, a PE ratio of 8.59 and a beta of 1.55. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average of $147.80 and a 200 day moving average of $159.52.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.09. The company had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.28 billion. Nucor had a net margin of 10.45% and a return on equity of 15.69%. Nucor’s revenue was down 15.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.57 EPS. As a group, sell-side analysts predict that Nucor Co. will post 9.08 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be issued a $0.54 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.16 annualized dividend and a yield of 1.48%. Nucor’s payout ratio is 12.71%.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total value of $1,379,840.00. Following the transaction, the executive vice president now directly owns 99,049 shares in the company, valued at $15,847,840. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.46% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NUE. BMO Capital Markets cut their target price on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday, September 18th. JPMorgan Chase & Co. cut their target price on shares of Nucor from $174.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Morgan Stanley cut their target price on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, September 18th. Bank of America cut their target price on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Finally, Argus raised shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $191.43.

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.