Sumitomo Mitsui Trust Group Inc. Has $81.08 Million Position in Nucor Corporation $NUE

Sumitomo Mitsui Trust Group Inc. lifted its holdings in Nucor Corporation (NYSE:NUE) by 8.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 625,940 shares of the basic materials company’s stock after buying an additional 49,274 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Nucor were worth $81,084,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Nucor by 17.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,595 shares of the basic materials company’s stock worth $3,853,000 after buying an additional 4,763 shares during the period. Hudson Capital Management LLC boosted its position in shares of Nucor by 6.6% in the second quarter. Hudson Capital Management LLC now owns 34,784 shares of the basic materials company’s stock worth $4,506,000 after buying an additional 2,154 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of Nucor by 138.5% in the second quarter. Robeco Institutional Asset Management B.V. now owns 121,543 shares of the basic materials company’s stock worth $15,745,000 after buying an additional 70,581 shares during the period. Envestnet Asset Management Inc. boosted 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 worth $36,704,000 after buying an additional 33,700 shares during the period. Finally, GAMMA Investing LLC boosted 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 worth $506,000 after buying an additional 1,375 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Trading Up 0.2%

Shares of NYSE:NUE opened at $138.79 on Monday. The stock has a market capitalization of $31.86 billion, a PE ratio of 25.05, a P/E/G ratio of 1.03 and a beta of 1.75. Nucor Corporation has a 1 year low of $97.59 and a 1 year high of $170.52. The firm has a fifty day moving average price of $140.44 and a 200 day moving average price of $131.03. The company has a current ratio of 2.83, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31.

Nucor (NYSE:NUE) 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. The firm had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.47 billion. Nucor had a net margin of 4.21% and a return on equity of 6.65%. Nucor’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.68 earnings per share. Analysts expect that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be issued a $0.55 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.20 dividend on an annualized basis and a yield of 1.6%. Nucor’s dividend payout ratio is currently 39.71%.

Insider Buying and Selling 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 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 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 accessible through this link. Also, EVP Allen C. Behr sold 8,021 shares of the company’s stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $143.38, for a total transaction of $1,150,050.98. Following the sale, the executive vice president owned 82,703 shares of the company’s stock, valued at $11,857,956.14. This trade represents a 8.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,309 shares of company stock valued at $4,553,771. Company insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on Nucor from $165.00 to $172.00 and gave the stock an “overweight” rating in a research report on Monday, October 13th. Jefferies Financial Group upgraded Nucor from a “hold” rating to a “buy” rating and increased their price objective for the stock from $135.00 to $170.00 in a report on Thursday, July 31st. Wells Fargo & Company reduced their price objective on Nucor from $146.00 to $140.00 and set an “equal weight” rating for the company in a research report on Thursday, September 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Nucor in a research report on Saturday. Finally, The Goldman Sachs Group reduced their price objective on Nucor from $182.00 to $173.00 and set a “buy” rating for the company in a research report on Monday, September 22nd. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $157.60.

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.