Nucor Corporation $NUE Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. lessened its stake in Nucor Corporation (NYSE:NUE) by 4.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 89,164 shares of the basic materials company’s stock after selling 4,434 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Nucor were worth $12,093,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. IMA Advisory Services Inc. boosted its holdings in Nucor by 51.4% during the second quarter. IMA Advisory Services Inc. now owns 221 shares of the basic materials company’s stock worth $29,000 after buying an additional 75 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in shares of Nucor during the 2nd quarter worth about $39,000. Geneos Wealth Management Inc. grew its position in shares of Nucor by 81.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 153 shares during the period. Salomon & Ludwin LLC increased its stake in shares of Nucor by 45.5% in the 3rd quarter. Salomon & Ludwin LLC now owns 320 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 100 shares in the last quarter. Finally, Root Financial Partners LLC purchased a new position in shares of Nucor in the 3rd quarter valued at about $44,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Price Performance

Shares of NYSE NUE opened at $181.74 on Monday. The firm has a 50-day simple moving average of $163.72 and a 200-day simple moving average of $149.54. The company has a quick ratio of 1.51, a current ratio of 2.77 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $41.59 billion, a price-to-earnings ratio of 25.52, a price-to-earnings-growth ratio of 0.99 and a beta of 1.87. Nucor Corporation has a 52 week low of $97.59 and a 52 week high of $183.00.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, October 27th. The basic materials company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.33. The company had revenue of $8.52 billion during the quarter, compared to analysts’ expectations of $8.27 billion. Nucor had a net margin of 5.18% and a return on equity of 7.80%. Nucor’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.49 EPS. On average, equities analysts predict that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 11th. Investors of record on Wednesday, December 31st will be issued a $0.56 dividend. This is a boost from Nucor’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, December 31st. Nucor’s payout ratio is 31.46%.

Wall Street Analysts Forecast Growth

NUE has been the topic of several research analyst reports. BNP Paribas Exane raised their price objective on Nucor from $165.00 to $185.00 and gave the company an “outperform” rating in a report on Friday, January 2nd. Citigroup lifted their price target on shares of Nucor from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. The Goldman Sachs Group upped their price objective on shares of Nucor from $182.00 to $196.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Morgan Stanley reiterated an “equal weight” rating and issued a $180.00 target price (up previously from $165.00) on shares of Nucor in a research report on Friday, January 9th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Nucor in a research report on Wednesday, October 29th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $177.27.

Insider Buying and Selling

In other news, EVP Thomas J. Batterbee sold 2,000 shares of Nucor stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $165.28, for a total transaction of $330,560.00. Following the transaction, the executive vice president owned 17,952 shares in the company, valued at $2,967,106.56. The trade was a 10.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Allen C. Behr sold 9,042 shares of the business’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $151.28, for a total transaction of $1,367,873.76. Following the transaction, the executive vice president directly owned 73,661 shares in the company, valued at approximately $11,143,436.08. The trade was a 10.93% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 25,995 shares of company stock worth $3,990,634. 0.71% of the stock is owned by corporate insiders.

About Nucor

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.