Sumitomo Mitsui Trust Group Inc. Has $95.65 Million Position in Nucor Corporation $NUE

Key Points

• Sumitomo Mitsui Trust Group trimmed its Nucor stake by 3.2% in Q4, now holding 586,436 shares worth about $95.65 million (roughly 0.26% of the company) after selling 19,458 shares.
• Nucor authorized a $4.0 billion share buyback (up to about 9.7% of outstanding shares) and also declared a quarterly dividend of $0.56 per share (annualized $2.24, ~1.2% yield).
• Company insiders have been net sellers recently — two EVPs sold ~15,000 shares in February and insiders sold 26,401 shares (~$4.94M) over the last 90 days — while Nucor reported Q1 EPS of $1.73 versus $1.91 expected and revenue of $7.69B vs. $7.93B est.

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of Nucor Corporation (NYSE:NUE - Free Report) by 3.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 586,436 shares of the basic materials company's stock after selling 19,458 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.26% of Nucor worth $95,654,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Clear Creek Financial Management LLC increased its stake in Nucor by 7.8% in the fourth quarter. Clear Creek Financial Management LLC now owns 2,116 shares of the basic materials company's stock valued at $345,000 after acquiring an additional 153 shares during the period. Ritholtz Wealth Management bought a new stake in Nucor in the fourth quarter valued at about $226,000. Argus Investors Counsel Inc. increased its stake in Nucor by 7.0% in the fourth quarter. Argus Investors Counsel Inc. now owns 2,290 shares of the basic materials company's stock valued at $374,000 after acquiring an additional 150 shares during the period. Legacy Trust increased its stake in Nucor by 20.9% in the fourth quarter. Legacy Trust now owns 2,311 shares of the basic materials company's stock valued at $377,000 after acquiring an additional 400 shares during the period. Finally, Flagship Capital Management Inc. bought a new stake in Nucor in the fourth quarter valued at about $471,000. Institutional investors and hedge funds own 76.48% of the company's stock.

Insiders Place Their Bets

In other Nucor news, EVP Kenneth Rex Query sold 7,452 shares of the company's stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $196.02, for a total transaction of $1,460,741.04. Following the sale, the executive vice president directly owned 76,628 shares of the company's stock, valued at approximately $15,020,620.56. This represents a 8.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Allen C. Behr sold 7,568 shares of the company's stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $188.50, for a total transaction of $1,426,568.00. Following the sale, the executive vice president directly owned 67,711 shares in the company, valued at $12,763,523.50. This represents a 10.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 26,401 shares of company stock valued at $4,936,152. 0.62% of the stock is currently owned by insiders.

Nucor Price Performance

Shares of Nucor stock opened at $189.61 on Tuesday. The company has a current ratio of 2.94, a quick ratio of 1.57 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $43.16 billion, a price-to-earnings ratio of 25.15, a P/E/G ratio of 0.66 and a beta of 1.73. Nucor Corporation has a 1-year low of $105.92 and a 1-year high of $196.90. The firm's 50-day moving average price is $175.53 and its two-hundred day moving average price is $162.68.

Nucor (NYSE:NUE - Get Free Report) last issued its quarterly earnings data on Monday, January 26th. The basic materials company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $1.91 by ($0.18). The firm had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.93 billion. Nucor had a return on equity of 8.26% and a net margin of 5.37%.Nucor's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.22 earnings per share. On average, equities analysts predict that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor declared that its Board of Directors has initiated a share buyback program on Friday, February 20th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the basic materials company to repurchase up to 9.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its shares are undervalued.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 11th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, March 31st. Nucor's dividend payout ratio is currently 29.71%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NUE shares. Wall Street Zen cut shares of Nucor from a "buy" rating to a "hold" rating in a research note on Saturday. The Goldman Sachs Group started coverage on shares of Nucor in a research note on Wednesday, April 1st. They issued a "buy" rating and a $210.00 target price on the stock. BMO Capital Markets upped their target price on shares of Nucor from $190.00 to $196.00 and gave the company an "outperform" rating in a research note on Tuesday, March 3rd. BNP Paribas Exane upped their target price on shares of Nucor from $165.00 to $185.00 and gave the company an "outperform" rating in a research note on Friday, January 2nd. Finally, Morgan Stanley reissued an "equal weight" rating and issued a $180.00 target price (up from $165.00) on shares of Nucor in a research note on Friday, January 9th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Nucor has a consensus rating of "Moderate Buy" and an average price target of $192.80.

Nucor Company 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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