Mitsubishi UFJ Asset Management Co. Ltd. Has $67.25 Million Holdings in Nucor Corporation $NUE

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Nucor Corporation (NYSE:NUE) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 496,541 shares of the basic materials company’s stock after purchasing an additional 14,122 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Nucor were worth $67,247,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Berkshire Hathaway Inc acquired a new position in Nucor during the 2nd quarter worth about $856,792,000. Norges Bank acquired a new position in shares of Nucor in the second quarter worth approximately $479,858,000. Greenwich Wealth Management LLC bought a new stake in Nucor in the second quarter valued at approximately $123,145,000. Massachusetts Financial Services Co. MA acquired a new stake in Nucor during the 2nd quarter valued at approximately $105,435,000. Finally, AQR Capital Management LLC raised its holdings in Nucor by 580.9% during the 2nd quarter. AQR Capital Management LLC now owns 653,845 shares of the basic materials company’s stock worth $84,699,000 after purchasing an additional 557,819 shares during the last quarter. 76.48% of the stock is owned by institutional investors.

Insider Transactions at Nucor

In other Nucor news, EVP Thomas J. Batterbee sold 2,000 shares of the business’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $165.28, for a total transaction of $330,560.00. Following the completion of the sale, the executive vice president owned 17,952 shares in the company, valued at approximately $2,967,106.56. The trade was a 10.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kenneth Rex Query sold 7,452 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $196.02, for a total transaction of $1,460,741.04. Following the transaction, the executive vice president owned 76,628 shares in the company, valued at approximately $15,020,620.56. The trade was a 8.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 34,351 shares of company stock valued at $6,206,158 over the last ninety days. Company insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of Nucor from $176.00 to $184.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Wall Street Zen raised shares of Nucor from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. UBS Group lowered Nucor from a “buy” rating to a “neutral” rating and set a $183.00 price objective for the company. in a research report on Wednesday, January 28th. Seaport Research Partners boosted their price objective on Nucor from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nucor in a research note on Monday, December 29th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $179.36.

Nucor Price Performance

NUE stock opened at $176.64 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.94 and a quick ratio of 1.57. The company’s 50-day moving average is $175.86 and its 200-day moving average is $156.62. The stock has a market capitalization of $40.23 billion, a PE ratio of 23.43, a price-to-earnings-growth ratio of 0.63 and a beta of 1.86. Nucor Corporation has a 1 year low of $97.59 and a 1 year high of $196.90.

Nucor (NYSE:NUE) last issued its earnings results on Monday, January 26th. The basic materials company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.18). Nucor had a net margin of 5.37% and a return on equity of 8.26%. The firm had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same period in the previous year, the firm earned $1.22 earnings per share. The business’s quarterly revenue was up 8.6% on a year-over-year basis. Equities research analysts expect that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor announced that its board has authorized a share buyback program on Friday, February 20th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the basic materials company to buy up to 9.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 11th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, March 31st. Nucor’s dividend payout ratio is presently 29.71%.

About Nucor

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.