Asset Management One Co. Ltd. Has $30.82 Million Position in Nucor Co. (NUE)

Asset Management One Co. Ltd. cut its position in Nucor Co. (NYSE:NUE) by 1.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 550,606 shares of the basic materials company’s stock after selling 10,641 shares during the period. Asset Management One Co. Ltd. owned about 0.17% of Nucor worth $30,816,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NUE. CI Investments Inc. acquired a new stake in Nucor in the third quarter worth $55,250,000. Northern Trust Corp raised its holdings in Nucor by 15.0% in the second quarter. Northern Trust Corp now owns 5,759,017 shares of the basic materials company’s stock worth $333,275,000 after purchasing an additional 750,796 shares during the period. Balyasny Asset Management LLC raised its holdings in Nucor by 55.4% in the second quarter. Balyasny Asset Management LLC now owns 1,471,244 shares of the basic materials company’s stock worth $85,141,000 after purchasing an additional 524,476 shares during the period. Prudential PLC raised its holdings in Nucor by 28.2% in the second quarter. Prudential PLC now owns 2,260,300 shares of the basic materials company’s stock worth $130,804,000 after purchasing an additional 496,700 shares during the period. Finally, Deprince Race & Zollo Inc. acquired a new stake in Nucor in the second quarter worth $26,614,000. Institutional investors own 74.55% of the company’s stock.

NUE has been the topic of several analyst reports. Credit Suisse Group increased their target price on shares of Nucor from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, October 20th. Zacks Investment Research raised shares of Nucor from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Bank of America reissued a “buy” rating and set a $73.00 price objective on shares of Nucor in a research report on Wednesday, September 6th. Citigroup set a $66.00 price objective on shares of Nucor and gave the stock a “buy” rating in a research report on Friday, October 20th. Finally, Macquarie assumed coverage on shares of Nucor in a research report on Wednesday, September 6th. They set a “neutral” rating and a $57.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $67.32.

In related news, Chairman John J. Ferriola sold 15,131 shares of the firm’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $60.40, for a total value of $913,912.40. Following the completion of the transaction, 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 can be accessed through the SEC website. Also, insider D. Chad Utermark sold 9,003 shares of the firm’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $59.72, for a total transaction of $537,659.16. Following the completion of the transaction, the insider now directly owns 73,883 shares of the company’s stock, valued at approximately $4,412,292.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,217 shares of company stock valued at $2,608,231. 0.70% of the stock is owned by insiders.

Nucor Co. (NYSE NUE) traded up $1.58 during trading on Monday, reaching $60.17. 5,874,700 shares of the company were exchanged, compared to its average volume of 2,690,154. The company has a market capitalization of $19,330.00, a P/E ratio of 17.69, a P/E/G ratio of 1.36 and a beta of 1.58. Nucor Co. has a 1-year low of $51.67 and a 1-year high of $66.37. The company has a current ratio of 2.11, a quick ratio of 1.12 and a debt-to-equity ratio of 0.37.

Nucor (NYSE:NUE) last released its earnings results 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 business had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.19 billion. Nucor had a net margin of 5.80% and a return on equity of 12.78%. The firm’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.88 earnings per share. analysts predict that Nucor Co. will post 3.69 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, December 29th will be given a $0.38 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.52 dividend on an annualized basis and a yield of 2.53%. This is an increase from Nucor’s previous quarterly dividend of $0.38. Nucor’s dividend payout ratio (DPR) is 42.06%.

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Nucor Company Profile

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).

Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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