Asset Management One Co. Ltd. Grows Stock Holdings in Nucor Corporation (NYSE:NUE)

Asset Management One Co. Ltd. increased its holdings in Nucor Corporation (NYSE:NUE - Free Report) by 7.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 98,921 shares of the basic materials company's stock after buying an additional 7,151 shares during the period. Asset Management One Co. Ltd.'s holdings in Nucor were worth $11,904,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of NUE. Bank of New York Mellon Corp boosted its holdings in Nucor by 6.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,679,176 shares of the basic materials company's stock worth $195,977,000 after buying an additional 104,238 shares during the period. Lake Street Advisors Group LLC boosted its holdings in Nucor by 8.8% in the 4th quarter. Lake Street Advisors Group LLC now owns 1,851 shares of the basic materials company's stock worth $217,000 after buying an additional 150 shares during the period. Bryn Mawr Capital Management LLC boosted its holdings in Nucor by 2.2% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 9,240 shares of the basic materials company's stock valued at $1,078,000 after purchasing an additional 198 shares during the period. Mn Services Vermogensbeheer B.V. boosted its holdings in Nucor by 3.9% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 42,981 shares of the basic materials company's stock valued at $5,016,000 after purchasing an additional 1,600 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its holdings in Nucor by 13.2% in the 4th quarter. Oppenheimer & Co. Inc. now owns 14,168 shares of the basic materials company's stock valued at $1,654,000 after purchasing an additional 1,650 shares during the period. 76.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NUE has been the subject of several analyst reports. JPMorgan Chase & Co. cut their price target on shares of Nucor from $156.00 to $140.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Argus set a $155.00 price target on shares of Nucor in a report on Wednesday, March 5th. Morgan Stanley raised their price target on shares of Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a report on Friday, June 20th. BMO Capital Markets raised shares of Nucor from a "market perform" rating to an "outperform" rating and raised their price target for the company from $140.00 to $145.00 in a report on Monday, June 2nd. Finally, The Goldman Sachs Group cut their price target on shares of Nucor from $175.00 to $169.00 and set a "buy" rating for the company in a report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $150.00.

Insider Buying and Selling

In related news, EVP Daniel R. Needham sold 7,088 shares of Nucor stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $127.87, for a total value of $906,342.56. Following the transaction, the executive vice president now owns 99,379 shares in the company, valued at $12,707,592.73. This trade represents a 6.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Leon J. Topalian sold 34,238 shares of Nucor 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 completion of the transaction, the chief executive officer now owns 162,993 shares in the company, valued at approximately $19,590,128.67. The trade was a 17.36% decrease in their position. The disclosure for this sale can be found here. 0.46% of the stock is owned by corporate insiders.

Nucor Price Performance

Shares of NYSE NUE traded up $1.14 during mid-day trading on Friday, reaching $131.75. 2,860,212 shares of the company were exchanged, compared to its average volume of 2,231,595. Nucor Corporation has a 52 week low of $97.59 and a 52 week high of $170.52. The company has a quick ratio of 1.48, a current ratio of 2.52 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $30.40 billion, a PE ratio of 23.44, a PEG ratio of 0.83 and a beta of 1.67. The company's 50 day moving average price is $117.76 and its 200 day moving average price is $122.25.

Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.15). Nucor had a return on equity of 6.82% and a net margin of 4.40%. The company had revenue of $7.83 billion for the quarter, compared to the consensus estimate of $7.25 billion. During the same period in the prior year, the firm posted $3.46 earnings per share. The business's revenue was down 3.8% on a year-over-year basis. Sell-side analysts forecast that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Monday, June 30th. Nucor's dividend payout ratio is currently 39.15%.

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.