Nucor Corporation $NUE Shares Acquired by Global X Japan Co. Ltd.

Global X Japan Co. Ltd. grew its stake in Nucor Corporation (NYSE:NUE) by 6.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,273 shares of the basic materials company’s stock after buying an additional 317 shares during the quarter. Global X Japan Co. Ltd.’s holdings in Nucor were worth $683,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in Nucor by 17.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,595 shares of the basic materials company’s stock worth $3,853,000 after purchasing an additional 4,763 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Nucor by 21.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 101,459 shares of the basic materials company’s stock worth $12,210,000 after buying an additional 17,861 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Nucor by 20.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 28,886 shares of the basic materials company’s stock worth $3,476,000 after buying an additional 4,914 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Nucor by 12.4% in the first quarter. Envestnet Asset Management Inc. now owns 305,006 shares of the basic materials company’s stock valued at $36,704,000 after purchasing an additional 33,700 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Nucor by 48.6% in the first quarter. GAMMA Investing LLC now owns 4,203 shares of the basic materials company’s stock valued at $506,000 after purchasing an additional 1,375 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Buying and Selling

In other Nucor news, EVP Kenneth Rex Query sold 10,000 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $144.90, for a total value of $1,449,000.00. Following the sale, the executive vice president directly owned 84,080 shares in the company, valued at $12,183,192. This trade represents a 10.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael D. Keller sold 6,088 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $148.41, for a total value of $903,520.08. Following the completion of the sale, the insider 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 disclosure for this sale can be found here. Insiders have sold a total of 48,397 shares of company stock valued at $6,763,814 in the last three months. 0.46% of the stock is currently owned by insiders.

Nucor Trading Down 0.9%

Shares of NUE stock opened at $133.03 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 2.83. The stock has a market capitalization of $30.54 billion, a P/E ratio of 24.01, a price-to-earnings-growth ratio of 0.89 and a beta of 1.76. The company has a 50 day moving average price of $142.95 and a 200 day moving average price of $128.63. Nucor Corporation has a fifty-two week low of $97.59 and a fifty-two week high of $170.52.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, July 28th. The basic materials company reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.06. The business had revenue of $8.46 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the firm earned $2.68 earnings per share. Equities research analysts predict that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Tuesday, September 30th. Nucor’s dividend payout ratio (DPR) is presently 39.71%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NUE. UBS Group dropped their price target on Nucor from $153.00 to $147.00 and set a “buy” rating for the company in a research report on Thursday, May 29th. Bank of America upped their price target on Nucor from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Wells Fargo & Company dropped their price target on Nucor from $146.00 to $140.00 and set an “equal weight” rating for the company in a research report on Thursday. BMO Capital Markets upgraded Nucor from a “market perform” rating to an “outperform” rating and upped their price target for the company from $140.00 to $145.00 in a research report on Monday, June 2nd. Finally, Jefferies Financial Group upgraded Nucor from a “hold” rating to a “buy” rating and upped their price target for the company from $135.00 to $170.00 in a research report on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Nucor presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.20.

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.