Nucor Corporation (NYSE:NUE) Shares Purchased by Mitsubishi UFJ Asset Management UK Ltd.

Key Points

• Mitsubishi UFJ Asset Management UK Ltd. increased its stake in Nucor Corporation by 300%, holding 16,000 shares valued at approximately $1.93 million as of the latest SEC filing.
• Nucor reported quarterly earnings of $2.60 per share, which exceeded analysts' expectations of $2.54 and indicated a year-over-year revenue growth of 4.7% to $8.46 billion.
• The company's recent quarterly dividend of $0.55 per share represents an annualized yield of 1.5%, with a payout ratio of 39.71%.

Mitsubishi UFJ Asset Management UK Ltd. boosted its holdings in Nucor Corporation (NYSE:NUE - Free Report) by 300.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,000 shares of the basic materials company's stock after purchasing an additional 12,000 shares during the quarter. Nucor makes up 1.0% of Mitsubishi UFJ Asset Management UK Ltd.'s portfolio, making the stock its 22nd biggest holding. Mitsubishi UFJ Asset Management UK Ltd.'s holdings in Nucor were worth $1,925,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in NUE. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Nucor in the fourth quarter worth about $25,000. Putney Financial Group LLC purchased a new stake in shares of Nucor in the fourth quarter worth about $29,000. MV Capital Management Inc. boosted its position in shares of Nucor by 73.5% in the first quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company's stock worth $34,000 after buying an additional 119 shares during the period. Fourth Dimension Wealth LLC acquired a new position in shares of Nucor in the fourth quarter worth about $41,000. Finally, Park Square Financial Group LLC acquired a new position in shares of Nucor in the fourth quarter worth about $48,000. Hedge funds and other institutional investors own 76.48% of the company's stock.

Nucor Stock Performance

Shares of NUE stock opened at $145.91 on Thursday. Nucor Corporation has a 12-month low of $97.59 and a 12-month high of $170.52. The firm has a market capitalization of $33.67 billion, a price-to-earnings ratio of 26.34, a price-to-earnings-growth ratio of 0.90 and a beta of 1.74. The business has a 50 day simple moving average of $134.78 and a 200 day simple moving average of $126.63. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.83 and a quick ratio of 1.51.

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

Nucor Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on NUE shares. Jefferies Financial Group upgraded Nucor from a "hold" rating to a "buy" rating and boosted their price target for the stock from $135.00 to $170.00 in a research note on Thursday, July 31st. Wells Fargo & Company began coverage on Nucor in a research note on Wednesday. They set a "negative" rating on the stock. BMO Capital Markets upgraded Nucor from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $140.00 to $145.00 in a research note on Monday, June 2nd. UBS Group cut their price objective on Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. Finally, Morgan Stanley upped their price objective on Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a research note on Friday, June 20th. Two investment analysts have rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Nucor presently has a consensus rating of "Moderate Buy" and a consensus price target of $157.13.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Daniel R. Needham sold 7,088 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $127.87, for a total transaction of $906,342.56. Following the completion of the transaction, the executive vice president directly owned 99,379 shares of the company's stock, valued at approximately $12,707,592.73. This trade represents a 6.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Allen C. Behr sold 8,021 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $143.38, for a total value of $1,150,050.98. Following the transaction, the executive vice president directly owned 82,703 shares of the company's stock, valued at approximately $11,857,956.14. The trade was a 8.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,109 shares of company stock valued at $3,360,094. 0.46% of the stock is owned by corporate insiders.

Nucor Company 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.

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