Nissay Asset Management Corp Japan ADV cut its holdings in Nucor Co. (NYSE:NUE) by 13.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 45,208 shares of the basic materials company’s stock after selling 7,275 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Nucor were worth $2,638,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Pinnacle Bank bought a new stake in shares of Nucor during the fourth quarter valued at approximately $26,000. Lindbrook Capital LLC bought a new stake in shares of Nucor during the fourth quarter valued at approximately $27,000. Ropes Wealth Advisors LLC bought a new stake in shares of Nucor during the first quarter valued at approximately $34,000. Laurel Wealth Advisors LLC bought a new stake in shares of Nucor during the fourth quarter valued at approximately $38,000. Finally, Capital Investment Advisory Services LLC bought a new stake in shares of Nucor during the fourth quarter valued at approximately $39,000. 79.15% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Chairman John J. Ferriola sold 65,061 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $56.20, for a total transaction of $3,656,428.20. Following the completion of the sale, the chairman now owns 403,735 shares in the company, valued at $22,689,907. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Raymond S. Napolitan, Jr. sold 10,000 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $58.28, for a total value of $582,800.00. Following the sale, the insider now owns 96,778 shares of the company’s stock, valued at approximately $5,640,221.84. The disclosure for this sale can be found here. Insiders have sold 76,314 shares of company stock valued at $4,310,637 in the last quarter. 0.96% of the stock is currently owned by corporate insiders.
Several equities research analysts have recently commented on the company. Longbow Research downgraded Nucor from a “buy” rating to a “neutral” rating in a report on Monday, March 11th. Zacks Investment Research downgraded Nucor from a “hold” rating to a “strong sell” rating in a report on Friday, February 1st. Standpoint Research upgraded Nucor from a “hold” rating to a “buy” rating in a report on Monday, March 18th. ValuEngine downgraded Nucor from a “hold” rating to a “sell” rating in a report on Thursday, February 14th. Finally, UBS Group set a $59.00 price objective on Nucor and gave the company a “hold” rating in a report on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. Nucor presently has an average rating of “Buy” and a consensus target price of $70.56.
Shares of Nucor stock opened at $55.18 on Thursday. Nucor Co. has a 12-month low of $49.79 and a 12-month high of $68.84. The firm has a market cap of $16.67 billion, a P/E ratio of 7.24, a P/E/G ratio of 0.79 and a beta of 1.46. The company has a quick ratio of 1.64, a current ratio of 3.37 and a debt-to-equity ratio of 0.40.
Nucor (NYSE:NUE) last announced its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $1.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.05. Nucor had a return on equity of 24.86% and a net margin of 9.80%. The business had revenue of $6.10 billion during the quarter, compared to the consensus estimate of $6.05 billion. During the same quarter in the prior year, the company posted $1.17 earnings per share. Nucor’s revenue was up 9.5% compared to the same quarter last year. On average, equities analysts anticipate that Nucor Co. will post 5.75 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, March 29th were issued a dividend of $0.40 per share. The ex-dividend date was Thursday, March 28th. This represents a $1.60 annualized dividend and a yield of 2.90%. Nucor’s dividend payout ratio (DPR) is currently 21.00%.
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Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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