Sumitomo Mitsui Trust Group Inc. Sells 19,458 Shares of Nucor Corporation $NUE

Sumitomo Mitsui Trust Group Inc. decreased its position in shares of Nucor Corporation (NYSE:NUE) by 3.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 586,436 shares of the basic materials company’s stock after selling 19,458 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Nucor were worth $95,654,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of NUE. AQR Capital Management LLC lifted 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 buying an additional 557,819 shares in the last quarter. Capital World Investors lifted its holdings in Nucor by 20.1% during the 3rd quarter. Capital World Investors now owns 3,042,761 shares of the basic materials company’s stock worth $412,081,000 after buying an additional 509,019 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in Nucor by 169.0% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 779,940 shares of the basic materials company’s stock worth $127,216,000 after buying an additional 489,950 shares in the last quarter. Holocene Advisors LP lifted its holdings in Nucor by 146.9% during the 3rd quarter. Holocene Advisors LP now owns 548,911 shares of the basic materials company’s stock worth $74,339,000 after buying an additional 326,572 shares in the last quarter. Finally, Rakuten Investment Management Inc. acquired a new position in Nucor during the 3rd quarter worth $32,915,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Trading Up 1.9%

Shares of NYSE NUE opened at $189.61 on Tuesday. The company’s 50 day simple moving average is $175.53 and its 200 day simple moving average is $162.68. Nucor Corporation has a fifty-two week low of $105.92 and a fifty-two week high of $196.90. The firm has a market capitalization of $43.16 billion, a P/E ratio of 25.15, a P/E/G ratio of 0.66 and a beta of 1.73. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.94 and a quick ratio of 1.57.

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

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 11th. Shareholders of record on Tuesday, March 31st will be issued a $0.56 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $2.24 annualized dividend and a yield of 1.2%. Nucor’s dividend payout ratio (DPR) is 29.71%.

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NUE shares. The Goldman Sachs Group started coverage on Nucor in a report on Wednesday, April 1st. They set a “buy” rating and a $210.00 price objective on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nucor in a report on Monday, December 29th. Seaport Research Partners upped their price objective on Nucor from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Wells Fargo & Company increased their price objective on shares of Nucor from $194.00 to $197.00 and gave the company an “overweight” rating in a report on Friday, March 20th. Finally, Jefferies Financial Group increased their price objective on shares of Nucor from $200.00 to $225.00 and gave the company a “buy” rating in a report on Friday. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $192.80.

Insiders Place Their Bets

In other Nucor news, EVP Daniel R. Needham sold 3,881 shares of the stock in a transaction on Friday, January 30th. The shares were sold at an average price of $178.00, for a total value of $690,818.00. Following the sale, the executive vice president directly owned 88,298 shares in the company, valued at approximately $15,717,044. This trade represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Allen C. Behr sold 7,568 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $188.50, for a total transaction of $1,426,568.00. Following the completion of the sale, the executive vice president owned 67,711 shares in the company, valued at approximately $12,763,523.50. This trade represents a 10.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 26,401 shares of company stock worth $4,936,152. Company insiders own 0.62% of the company’s stock.

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.