Dai ichi Life Insurance Company Ltd Sells 7,200 Shares of Nucor Corporation $NUE

Key Points

• Dai ichi Life Insurance reduced its Nucor position by 36.7%, selling 7,200 shares and retaining 12,404 shares valued at approximately $2.1 million. Institutional investors collectively own 76.48% of Nucor.
• Analysts remain broadly optimistic, with 12 Buy ratings and four Holds, producing a “Moderate Buy” consensus and an average price target of $266.31. Recent targets range as high as $284.
• Nucor reported stronger-than-expected quarterly results, including $3.23 in EPS and $9.50 billion in revenue, while declaring a quarterly dividend of $0.56 per share, equivalent to a 0.9% annual yield.

Dai ichi Life Insurance Company Ltd cut its holdings in Nucor Corporation (NYSE:NUE - Free Report) by 36.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,404 shares of the basic materials company's stock after selling 7,200 shares during the period. Dai ichi Life Insurance Company Ltd's holdings in Nucor were worth $2,098,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Nucor by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 28,407,540 shares of the basic materials company's stock worth $4,633,554,000 after purchasing an additional 144,038 shares in the last quarter. Morgan Stanley raised its position in shares of Nucor by 1.1% in the fourth quarter. Morgan Stanley now owns 3,853,205 shares of the basic materials company's stock valued at $628,497,000 after buying an additional 41,728 shares in the last quarter. Norges Bank acquired a new stake in shares of Nucor in the fourth quarter valued at approximately $609,002,000. Dimensional Fund Advisors LP boosted its stake in shares of Nucor by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,539,044 shares of the basic materials company's stock valued at $429,298,000 after buying an additional 22,718 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Nucor by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,919,883 shares of the basic materials company's stock worth $313,152,000 after buying an additional 56,565 shares in the last quarter. 76.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Morgan Stanley boosted their price target on Nucor from $227.00 to $258.00 and gave the company an "equal weight" rating in a research note on Monday, June 22nd. Wall Street Zen upgraded shares of Nucor from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 16th. BNP Paribas Exane increased their price objective on shares of Nucor from $210.00 to $248.00 and gave the stock an "outperform" rating in a research note on Monday, May 4th. The Goldman Sachs Group raised their target price on shares of Nucor from $260.00 to $284.00 and gave the company a "buy" rating in a report on Tuesday, June 16th. Finally, Weiss Ratings upgraded shares of Nucor from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, May 14th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $266.31.

Insider Buying and Selling at Nucor

In related news, EVP Allen C. Behr sold 10,096 shares of the company's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $226.08, for a total transaction of $2,282,503.68. Following the sale, the executive vice president owned 62,871 shares in the company, valued at $14,213,875.68. This represents a 13.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael D. Keller sold 4,554 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $225.86, for a total value of $1,028,566.44. Following the transaction, the insider owned 16,834 shares in the company, valued at $3,802,127.24. The trade was a 21.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 82,378 shares of company stock valued at $18,963,930. 0.62% of the stock is owned by corporate insiders.

Nucor Stock Up 0.1%

Shares of NYSE NUE opened at $247.81 on Monday. The company has a 50 day simple moving average of $239.91 and a 200 day simple moving average of $204.43. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55. Nucor Corporation has a 1 year low of $131.32 and a 1 year high of $270.90. The firm has a market cap of $56.44 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 0.57 and a beta of 1.91.

Nucor (NYSE:NUE - Get Free Report) last announced its earnings results on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, topping the consensus estimate of $2.82 by $0.41. The firm had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $8.88 billion. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The business's quarterly revenue was up 21.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 EPS. On average, research analysts forecast that Nucor Corporation will post 17.53 EPS for the current year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. Nucor's dividend payout ratio is 22.18%.

Nucor Profile

Nucor Corporation NYSE: NUE is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor's operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.

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