Norinchukin Bank The Grows Position in Nucor Corporation $NUE

Norinchukin Bank The boosted its holdings in Nucor Corporation (NYSE:NUE) by 16.7% in the 1st quarter, HoldingsChannel reports. The fund owned 13,479 shares of the basic materials company’s stock after acquiring an additional 1,933 shares during the quarter. Norinchukin Bank The’s holdings in Nucor were worth $1,622,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. CW Advisors LLC purchased a new position in Nucor in the first quarter worth $769,000. Summit Financial LLC grew its holdings in Nucor by 3.3% in the first quarter. Summit Financial LLC now owns 4,908 shares of the basic materials company’s stock valued at $591,000 after purchasing an additional 156 shares during the last quarter. United Asset Strategies Inc. grew its holdings in Nucor by 26.6% in the first quarter. United Asset Strategies Inc. now owns 12,150 shares of the basic materials company’s stock valued at $1,462,000 after purchasing an additional 2,554 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Nucor by 18.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,309,452 shares of the basic materials company’s stock valued at $277,920,000 after purchasing an additional 355,364 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC grew its holdings in Nucor by 2.2% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 4,247 shares of the basic materials company’s stock valued at $511,000 after purchasing an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Wall Street Analysts Forecast Growth

NUE has been the topic of several research reports. Wells Fargo & Company raised Nucor to a “hold” rating in a report on Thursday, August 14th. Morgan Stanley increased their price objective on Nucor from $134.00 to $149.00 and gave the company an “overweight” rating in a research note on Friday, June 20th. UBS Group decreased their price objective on Nucor from $153.00 to $147.00 and set a “buy” rating on the stock in a research note on Thursday, May 29th. BMO Capital Markets raised Nucor from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $140.00 to $145.00 in a research note on Monday, June 2nd. Finally, Jefferies Financial Group raised Nucor from a “hold” rating to a “buy” rating and increased their price objective for the company from $135.00 to $170.00 in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $155.78.

Nucor Stock Performance

Nucor stock opened at $147.7660 on Friday. The stock’s 50-day moving average is $138.18 and its 200-day moving average is $127.46. The company has a market cap of $33.92 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 0.91 and a beta of 1.74. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.83 and a quick ratio of 1.51. Nucor Corporation has a 12 month low of $97.59 and a 12 month high of $170.52.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, July 28th. The basic materials company reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.06. The company had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.47 billion. Nucor had a return on equity of 6.65% and a net margin of 4.21%.The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business posted $2.68 EPS. Equities analysts anticipate that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, June 30th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Monday, June 30th. Nucor’s dividend payout ratio (DPR) is 39.71%.

Insider Transactions at Nucor

In other news, EVP Daniel R. Needham sold 7,200 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $146.00, for a total value of $1,051,200.00. Following the transaction, the executive vice president directly owned 92,179 shares in the company, valued at $13,458,134. This trade represents a 7.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Allen C. Behr sold 8,021 shares of the firm’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $143.38, for a total value of $1,150,050.98. Following the completion of the transaction, the executive vice president owned 82,703 shares in the company, valued at approximately $11,857,956.14. This trade represents a 8.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,309 shares of company stock worth $5,860,294 in the last three months. 0.46% of the stock is currently owned by company insiders.

Nucor Company Profile

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.