Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Nucor Corporation (NYSE:NUE) by 2.9% during the third quarter, Holdings Channel reports. The fund owned 48,752 shares of the company’s stock after buying an additional 1,354 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Nucor Corporation were worth $2,411,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Retirement Systems of Alabama boosted its position in Nucor Corporation by 98.2% in the second quarter. Retirement Systems of Alabama now owns 516,759 shares of the company’s stock valued at $25,533,000 after buying an additional 256,096 shares during the last quarter. UMB Bank N A MO boosted its position in Nucor Corporation by 137.4% in the second quarter. UMB Bank N A MO now owns 62,843 shares of the company’s stock valued at $3,105,000 after buying an additional 36,368 shares during the last quarter. PGGM Investments boosted its position in Nucor Corporation by 6.2% in the second quarter. PGGM Investments now owns 222,406 shares of the company’s stock valued at $10,989,000 after buying an additional 12,974 shares during the last quarter. Strs Ohio boosted its position in Nucor Corporation by 11.5% in the second quarter. Strs Ohio now owns 15,115 shares of the company’s stock valued at $746,000 after buying an additional 1,553 shares during the last quarter. Finally, HL Financial Services LLC boosted its position in Nucor Corporation by 7.9% in the second quarter. HL Financial Services LLC now owns 5,116 shares of the company’s stock valued at $253,000 after buying an additional 373 shares during the last quarter. Hedge funds and other institutional investors own 76.76% of the company’s stock.

Institutional Ownership by Quarter for Nucor Corporation (NYSE:NUE)

Shares of Nucor Corporation (NYSE:NUE) traded down 0.49% during midday trading on Friday, reaching $60.31. 1,130,719 shares of the company’s stock were exchanged. Nucor Corporation has a 12 month low of $33.90 and a 12 month high of $68.00. The stock has a market cap of $19.21 billion, a PE ratio of 37.84 and a beta of 1.50. The company’s 50 day moving average is $62.21 and its 200-day moving average is $53.63.

Nucor Corporation (NYSE:NUE) last released its quarterly earnings data on Thursday, October 20th. The company reported $0.84 EPS for the quarter, missing the Zacks’ consensus estimate of $0.90 by $0.06. Nucor Corporation had a return on equity of 9.27% and a net margin of 3.26%. The company had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period last year, the firm earned $0.71 earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. Equities analysts forecast that Nucor Corporation will post $2.26 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 10th. Shareholders of record on Friday, December 30th will be given a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a yield of 2.49%. This is a boost from Nucor Corporation’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Wednesday, December 28th. Nucor Corporation’s payout ratio is 94.38%.

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Several equities research analysts have issued reports on NUE shares. Berenberg Bank raised shares of Nucor Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, December 6th. Argus boosted their price target on shares of Nucor Corporation from $65.00 to $75.00 and gave the company a “buy” rating in a report on Monday, December 12th. Jefferies Group reissued a “buy” rating and issued a $77.00 price target (up previously from $55.00) on shares of Nucor Corporation in a report on Tuesday, December 13th. Vetr lowered shares of Nucor Corporation from a “sell” rating to a “strong sell” rating and set a $55.66 price target on the stock. in a report on Monday, December 5th. Finally, Deutsche Bank AG boosted their price target on shares of Nucor Corporation from $55.00 to $73.00 and gave the company a “buy” rating in a report on Monday, December 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $59.39.

Nucor Corporation Company Profile

Nucor Corporation (Nucor) manufactures steel and steel products. The Company also produces direct reduced iron (DRI) for use in the Company’s steel mills. It also processes ferrous and nonferrous metals and brokers ferrous and nonferrous metals, pig iron, hot briquetted iron (HBI) and DRI. Nucor operates in three segments: steel mills, steel products and raw materials.

5 Day Chart for NYSE:NUE

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