Mitsubishi UFJ Trust & Banking Corp cut its position in Nucor Co. (NYSE:NUE) by 0.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 655,350 shares of the basic materials company’s stock after selling 5,729 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.21% of Nucor worth $36,726,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in NUE. Investment Counselors of Maryland LLC boosted its position in Nucor by 1.9% in the second quarter. Investment Counselors of Maryland LLC now owns 21,725 shares of the basic materials company’s stock valued at $1,257,000 after buying an additional 400 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in Nucor by 6.4% in the second quarter. Daiwa Securities Group Inc. now owns 280,050 shares of the basic materials company’s stock valued at $16,206,000 after buying an additional 16,900 shares in the last quarter. Stratos Wealth Partners LTD. boosted its position in Nucor by 37.0% in the second quarter. Stratos Wealth Partners LTD. now owns 12,449 shares of the basic materials company’s stock valued at $720,000 after buying an additional 3,364 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in Nucor in the second quarter valued at about $7,042,000. Finally, Tdam USA Inc. boosted its position in Nucor by 27.9% in the second quarter. Tdam USA Inc. now owns 5,784 shares of the basic materials company’s stock valued at $336,000 after buying an additional 1,263 shares in the last quarter. Hedge funds and other institutional investors own 74.55% of the company’s stock.
In related news, Director Victoria F. Haynes sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $55.16, for a total transaction of $137,900.00. Following the completion of the sale, the director now directly owns 33,573 shares of the company’s stock, valued at $1,851,886.68. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ladd R. Hall sold 17,583 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $57.94, for a total transaction of $1,018,759.02. Following the sale, the insider now directly owns 206,406 shares of the company’s stock, valued at $11,959,163.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,217 shares of company stock valued at $2,608,231. 0.70% of the stock is currently owned by insiders.
Nucor (NYSE:NUE) last posted its quarterly earnings results on Thursday, October 19th. The basic materials company reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate 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%. Nucor’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.88 earnings per share. equities analysts anticipate that Nucor Co. will post 3.69 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Investors 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 2.54%. The ex-dividend date was Thursday, September 28th. Nucor’s dividend payout ratio (DPR) is 43.90%.
A number of equities analysts have commented on the stock. ValuEngine upgraded shares of Nucor from a “hold” rating to a “buy” rating in a research report on Friday. Credit Suisse Group reduced their target price on shares of Nucor from $68.00 to $63.00 and set a “buy” rating on the stock in a research report on Thursday, September 28th. Bank of America reduced their target price on shares of Nucor from $73.00 to $71.00 and set a “buy” rating on the stock in a research report on Friday, October 20th. Longbow Research lowered shares of Nucor from a “buy” rating to a “neutral” rating and upped their target price for the stock from $55.01 to $56.04 in a research report on Monday, October 2nd. Finally, Jefferies Group set a $68.00 target price on shares of Nucor and gave the stock a “buy” rating in a research report on Monday, August 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. Nucor presently has a consensus rating of “Buy” and a consensus price target of $67.32.
TRADEMARK VIOLATION NOTICE: This article was posted by Community Financial News and is the property of of Community Financial News. If you are reading this article on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark laws. The original version of this article can be viewed at https://www.com-unik.info/2017/12/04/nucor-co-nue-holdings-reduced-by-mitsubishi-ufj-trust-banking-corp.html.
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).
Want to see what other hedge funds are holding NUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nucor Co. (NYSE:NUE).
What are top analysts saying about Nucor Co.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Nucor Co. and related companies.