Mufg Securities Americas Inc. Acquires New Position in Nucor Co. (NYSE:NUE)

Mufg Securities Americas Inc. purchased a new position in Nucor Co. (NYSE:NUE - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,467 shares of the basic materials company's stock, valued at approximately $405,000.

Several other institutional investors and hedge funds have also made changes to their positions in NUE. Man Group plc raised its position in shares of Nucor by 5.5% in the fourth quarter. Man Group plc now owns 113,609 shares of the basic materials company's stock valued at $13,259,000 after buying an additional 5,896 shares during the last quarter. NorthRock Partners LLC purchased a new position in Nucor during the 4th quarter worth approximately $296,000. Nuveen Asset Management LLC grew its holdings in shares of Nucor by 8.0% during the fourth quarter. Nuveen Asset Management LLC now owns 1,238,994 shares of the basic materials company's stock worth $144,603,000 after buying an additional 91,687 shares during the last quarter. Occudo Quantitative Strategies LP lifted its holdings in shares of Nucor by 13.4% in the 4th quarter. Occudo Quantitative Strategies LP now owns 15,442 shares of the basic materials company's stock valued at $1,802,000 after buying an additional 1,825 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Nucor by 7.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,384,590 shares of the basic materials company's stock valued at $161,595,000 after acquiring an additional 96,375 shares during the period. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Trading Down 0.4%

NYSE:NUE traded down $0.44 during midday trading on Monday, hitting $115.72. 1,630,650 shares of the company traded hands, compared to its average volume of 2,111,110. The firm has a market capitalization of $26.68 billion, a P/E ratio of 13.76, a P/E/G ratio of 0.96 and a beta of 1.73. Nucor Co. has a 12-month low of $97.59 and a 12-month high of $173.00. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. The firm's fifty day moving average is $117.69 and its 200-day moving average is $128.40.

Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The basic materials company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.15). Nucor had a return on equity of 9.85% and a net margin of 6.60%. The firm had revenue of $7.83 billion for the quarter, compared to the consensus estimate of $7.25 billion. During the same quarter last year, the firm earned $3.46 EPS. The company's revenue was down 3.8% compared to the same quarter last year. On average, sell-side analysts predict that Nucor Co. will post 7.64 EPS for the current year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 12th. Stockholders of record on Monday, March 31st were paid a $0.55 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.90%. Nucor's payout ratio is presently 39.15%.

Wall Street Analyst Weigh In

NUE has been the topic of several research analyst reports. UBS Group raised shares of Nucor from a "neutral" rating to a "buy" rating and raised their target price for the stock from $156.00 to $160.00 in a research report on Monday, March 24th. Jefferies Financial Group raised their price objective on Nucor from $125.00 to $135.00 and gave the stock a "hold" rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. lowered their price target on Nucor from $156.00 to $140.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Morgan Stanley set a $164.00 target price on shares of Nucor in a report on Monday, March 24th. Finally, Argus set a $155.00 target price on Nucor in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $160.33.

Insider Activity at Nucor

In other Nucor news, CEO Leon J. Topalian sold 34,238 shares of the business's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $120.19, for a total transaction of $4,115,065.22. Following the sale, the chief executive officer now directly owns 162,993 shares in the company, valued at approximately $19,590,128.67. The trade was a 17.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.46% of the stock is currently owned by company insiders.

Nucor 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.