Resona Asset Management Co. Ltd. Has $13.91 Million Stock Position in Nucor Corporation $NUE

Resona Asset Management Co. Ltd. decreased its holdings in shares of Nucor Corporation (NYSE:NUE) by 4.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 84,891 shares of the basic materials company’s stock after selling 4,273 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Nucor were worth $13,910,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of NUE. Integrated Wealth Concepts LLC increased its stake in shares of Nucor by 21.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock worth $393,000 after purchasing an additional 568 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Nucor during the 1st quarter worth $259,000. Geneos Wealth Management Inc. boosted its holdings 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 worth $41,000 after buying an additional 153 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of Nucor during the 2nd quarter worth $390,000. Finally, Cerity Partners LLC boosted its holdings in shares of Nucor by 51.9% during the 2nd quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock worth $5,263,000 after buying an additional 13,877 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Jefferies Financial Group upped their price objective on shares of Nucor from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Bank of America upped their price objective on shares of Nucor from $190.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Weiss Ratings raised shares of Nucor from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 14th. Zacks Research raised shares of Nucor from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Finally, BMO Capital Markets upped their price objective on shares of Nucor from $196.00 to $235.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Nucor presently has an average rating of “Moderate Buy” and a consensus price target of $245.45.

Insider Transactions at Nucor

In other Nucor news, EVP Bradley Ford sold 2,240 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $232.13, for a total value of $519,971.20. Following the completion of the sale, the executive vice president directly owned 43,649 shares of the company’s stock, valued at $10,132,242.37. This represents a 4.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Allen C. Behr sold 10,096 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $226.08, for a total transaction of $2,282,503.68. Following the completion of the sale, the executive vice president directly owned 62,871 shares of the company’s stock, valued at approximately $14,213,875.68. This trade represents a 13.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 71,818 shares of company stock worth $16,234,593. 0.62% of the stock is currently owned by insiders.

Nucor Price Performance

Shares of Nucor stock opened at $225.56 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55. Nucor Corporation has a fifty-two week low of $106.21 and a fifty-two week high of $235.45. The firm has a fifty day moving average price of $193.75 and a two-hundred day moving average price of $176.66. The company has a market cap of $51.37 billion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 0.60 and a beta of 1.87.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.41. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The firm had revenue of $9.50 billion during the quarter, compared to the consensus estimate of $8.88 billion. During the same period in the prior year, the firm earned $0.77 EPS. The business’s revenue was up 21.3% on a year-over-year basis. Analysts expect that Nucor Corporation will post 14.58 EPS for the current year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Tuesday, March 31st were issued a $0.56 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $2.24 dividend on an annualized basis and a yield of 1.0%. Nucor’s dividend payout ratio is 22.18%.

Nucor announced that its Board of Directors has authorized a share repurchase plan on Friday, February 20th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the basic materials company to purchase up to 9.7% of its shares through open market purchases. Shares repurchase plans are often an indication 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.