Norinchukin Bank The Has $1.62 Million Stake in Nucor Corporation $NUE

Key Points

• Norinchukin Bank increased its stake in Nucor Corporation by 16.7% during the 1st quarter, now holding 13,479 shares valued at approximately $1.62 million.
• Significant institutional investments in Nucor include a new position by Diamond Hill Capital Management worth $194.8 million, alongside substantial stakes acquired by Vanguard Group and GAMMA Investing.
• Nucor recently reported earnings of $2.60 per share, surpassing analyst expectations, with quarterly revenues of $8.46 billion, marking a 4.7% increase year-over-year.

Norinchukin Bank The boosted its holdings in shares of Nucor Corporation (NYSE:NUE - Free Report) by 16.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,479 shares of the basic materials company's stock after acquiring an additional 1,933 shares during the quarter. Norinchukin Bank The's holdings in Nucor were worth $1,622,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of NUE. Coppell Advisory Solutions LLC boosted its position in Nucor by 128.1% during the 4th quarter. Coppell Advisory Solutions LLC now owns 495 shares of the basic materials company's stock worth $57,000 after acquiring an additional 278 shares during the period. Voya Investment Management LLC boosted its position in Nucor by 528.6% during the 4th quarter. Voya Investment Management LLC now owns 507,715 shares of the basic materials company's stock worth $59,235,000 after acquiring an additional 426,949 shares during the period. Nebula Research & Development LLC raised its stake in shares of Nucor by 987.2% during the 4th quarter. Nebula Research & Development LLC now owns 24,983 shares of the basic materials company's stock worth $2,916,000 after purchasing an additional 22,685 shares in the last quarter. Oxford Asset Management LLP raised its stake in shares of Nucor by 87.5% during the 4th quarter. Oxford Asset Management LLP now owns 6,934 shares of the basic materials company's stock worth $809,000 after purchasing an additional 3,236 shares in the last quarter. Finally, Aquatic Capital Management LLC purchased a new stake in shares of Nucor during the 4th quarter worth about $5,109,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Stock Performance

NYSE NUE traded up $2.57 during trading on Wednesday, hitting $150.52. The company's stock had a trading volume of 939,406 shares, compared to its average volume of 2,422,390. The company has a quick ratio of 1.51, a current ratio of 2.83 and a debt-to-equity ratio of 0.31. The firm has a 50 day moving average price of $139.25 and a 200 day moving average price of $127.65. The firm has a market cap of $34.55 billion, a P/E ratio of 27.17, a price-to-earnings-growth ratio of 0.95 and a beta of 1.74. Nucor Corporation has a 52 week low of $97.59 and a 52 week high of $170.52.

Nucor (NYSE:NUE - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The basic materials company reported $2.60 EPS for the quarter, topping the consensus estimate of $2.54 by $0.06. The company had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.47 billion. Nucor had a return on equity of 6.65% and a net margin of 4.21%.The company's revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.68 EPS. Equities research analysts forecast that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, June 30th were given a dividend of $0.55 per share. The ex-dividend date was Monday, June 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.5%. Nucor's payout ratio is currently 39.71%.

Analyst Upgrades and Downgrades

NUE has been the subject of a number of recent research reports. Wall Street Zen downgraded Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Wells Fargo & Company raised Nucor to a "hold" rating in a research note on Thursday, August 14th. Morgan Stanley raised their price target on Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. Jefferies Financial Group raised Nucor from a "hold" rating to a "buy" rating and raised their price target for the stock from $135.00 to $170.00 in a research note on Thursday, July 31st. Finally, BMO Capital Markets raised Nucor from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $140.00 to $145.00 in a research note on Monday, June 2nd. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Nucor has an average rating of "Moderate Buy" and a consensus target price of $155.78.

Insider Transactions at Nucor

In related news, insider Michael D. Keller sold 6,088 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $148.41, for a total value of $903,520.08. Following the completion of the transaction, the insider directly owned 22,464 shares in the company, valued at approximately $3,333,882.24. This represents a 21.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kenneth Rex Query sold 10,000 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $144.90, for a total value of $1,449,000.00. Following the completion of the transaction, the executive vice president owned 84,080 shares of the company's stock, valued at $12,183,192. The trade was a 10.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,397 shares of company stock valued at $6,763,814. Company insiders own 0.71% of the company's stock.

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.