Meiji Yasuda Asset Management Co Ltd. Sells 3,154 Shares of Nucor Corporation $NUE

Meiji Yasuda Asset Management Co Ltd. decreased its holdings in shares of Nucor Corporation (NYSE:NUE) by 7.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,807 shares of the basic materials company’s stock after selling 3,154 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Nucor were worth $5,256,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NUE. Berkshire Hathaway Inc purchased a new position in shares of Nucor during the second quarter valued at approximately $856,792,000. Norges Bank bought a new stake in Nucor in the second quarter valued at $479,858,000. Greenwich Wealth Management LLC purchased a new position in Nucor during the 2nd quarter valued at $123,145,000. Massachusetts Financial Services Co. MA bought a new position in Nucor in the 2nd quarter worth $105,435,000. Finally, AQR Capital Management LLC boosted its stake in shares of Nucor by 580.9% during the 2nd quarter. AQR Capital Management LLC now owns 653,845 shares of the basic materials company’s stock valued at $84,699,000 after purchasing an additional 557,819 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NUE has been the subject of several research analyst reports. The Goldman Sachs Group raised their price objective on shares of Nucor from $182.00 to $196.00 and gave the stock a “buy” rating in a report on Friday, January 16th. UBS Group lowered Nucor from a “buy” rating to a “neutral” rating and set a $183.00 price target on the stock. in a research report on Wednesday, January 28th. BMO Capital Markets upped their target price on shares of Nucor from $190.00 to $196.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 3rd. Seaport Research Partners increased their price target on shares of Nucor from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Nucor from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, December 5th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $187.90.

Insider Activity

In related news, EVP Thomas J. Batterbee sold 2,000 shares of Nucor stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $165.28, for a total value of $330,560.00. Following the completion of the sale, the executive vice president directly owned 17,952 shares in the company, valued at approximately $2,967,106.56. This trade represents a 10.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Allen C. Behr sold 7,568 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $188.50, for a total value of $1,426,568.00. Following the completion of the transaction, the executive vice president directly owned 67,711 shares of the company’s stock, valued at approximately $12,763,523.50. This trade represents a 10.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 34,351 shares of company stock valued at $6,206,158 in the last quarter. Insiders own 0.71% of the company’s stock.

Nucor Price Performance

NUE opened at $168.58 on Monday. The stock has a 50-day moving average price of $176.90 and a 200-day moving average price of $157.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.94 and a quick ratio of 1.57. The firm has a market cap of $38.40 billion, a PE ratio of 22.36, a P/E/G ratio of 0.61 and a beta of 1.83. Nucor Corporation has a 1 year low of $97.59 and a 1 year high of $196.90.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, January 26th. The basic materials company reported $1.73 EPS 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 analysts’ expectations of $7.93 billion. Nucor had a net margin of 5.37% and a return on equity of 8.26%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the company posted $1.22 earnings per share. Sell-side analysts predict that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 11th. Investors of record on Tuesday, March 31st will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.24 annualized dividend and a dividend yield of 1.3%. Nucor’s dividend payout ratio (DPR) is 29.71%.

Nucor declared that its board has authorized a stock repurchase plan on Friday, February 20th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the basic materials company to purchase up to 9.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.