Nucor Co. (NUE) Holdings Reduced by Mitsubishi UFJ Trust & Banking Corp

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 Co. (NYSE NUE) traded up $2.05 on Monday, hitting $59.36. 2,139,735 shares of the company were exchanged, compared to its average volume of 2,674,555. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 2.11. The company has a market capitalization of $18,216.63, a P/E ratio of 16.85, a price-to-earnings-growth ratio of 1.29 and a beta of 1.58. Nucor Co. has a twelve month low of $51.67 and a twelve month high of $68.00.

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.

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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).

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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