Nucor Corporation (NUE) Shares Sold by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.
Mitsubishi UFJ Kokusai Asset Management Co. Ltd. trimmed its stake in Nucor Corporation (NYSE:NUE) by 8.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,621 shares of the basic materials company’s stock after selling 4,610 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Nucor Corporation were worth $2,669,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System increased its position in shares of Nucor Corporation by 1.1% in the third quarter. State Board of Administration of Florida Retirement System now owns 474,825 shares of the basic materials company’s stock worth $26,609,000 after purchasing an additional 4,940 shares during the last quarter. Wedbush Securities Inc. increased its position in shares of Nucor Corporation by 205.4% in the third quarter. Wedbush Securities Inc. now owns 11,869 shares of the basic materials company’s stock worth $665,000 after purchasing an additional 7,983 shares during the last quarter. Andra AP fonden increased its position in shares of Nucor Corporation by 1.8% in the third quarter. Andra AP fonden now owns 80,900 shares of the basic materials company’s stock worth $4,534,000 after purchasing an additional 1,400 shares during the last quarter. Berkshire Asset Management LLC PA increased its position in shares of Nucor Corporation by 49.1% in the third quarter. Berkshire Asset Management LLC PA now owns 230,408 shares of the basic materials company’s stock worth $12,912,000 after purchasing an additional 75,899 shares during the last quarter. Finally, Summit Securities Group LLC bought a new position in shares of Nucor Corporation in the third quarter worth approximately $280,000. Institutional investors own 74.75% of the company’s stock.
Shares of Nucor Corporation (NUE) opened at $55.83 on Friday. The firm has a market capitalization of $17,968.65, a P/E ratio of 16.62, a PEG ratio of 1.27 and a beta of 1.59. Nucor Corporation has a 52 week low of $51.67 and a 52 week high of $68.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.13 and a current ratio of 2.11.
Nucor Corporation (NYSE:NUE) last released its quarterly earnings data on Thursday, October 19th. The basic materials company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. The firm had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.19 billion. Nucor Corporation had a return on equity of 12.78% and a net margin of 5.80%. The business’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 earnings per share. sell-side analysts forecast that Nucor Corporation will post 3.72 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Friday, September 29th were paid a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend was Thursday, September 28th. Nucor Corporation’s dividend payout ratio (DPR) is presently 43.90%.
Several research analysts recently weighed in on NUE shares. Macquarie started coverage on shares of Nucor Corporation in a research report on Wednesday, September 6th. They issued a “neutral” rating and a $57.00 price objective on the stock. ValuEngine cut shares of Nucor Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Jefferies Group LLC set a $68.00 price objective on shares of Nucor Corporation and gave the stock a “buy” rating in a research report on Monday, August 21st. Credit Suisse Group increased their price target on shares of Nucor Corporation from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, October 20th. Finally, Cowen and Company increased their price target on shares of Nucor Corporation from $57.00 to $63.00 and gave the company a “market perform” rating in a research report on Monday, October 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. Nucor Corporation currently has a consensus rating of “Hold” and an average price target of $67.32.
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In other news, Chairman John J. Ferriola sold 15,131 shares of the stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $60.40, for a total transaction of $913,912.40. Following the completion of the sale, the chairman now owns 349,506 shares of the company’s stock, valued at $21,110,162.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Ladd R. Hall sold 17,583 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $57.94, for a total value of $1,018,759.02. Following the sale, the insider now directly owns 206,406 shares of the company’s stock, valued at approximately $11,959,163.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,217 shares of company stock valued at $2,608,231. Insiders own 0.70% of the company’s stock.
About Nucor Corporation
Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).
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