Mitsubishi UFJ Asset Management Co. Ltd. Makes New $126.85 Million Investment in Nucor Corporation $NUE

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Nucor Corporation (NYSE:NUE) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 569,465 shares of the basic materials company’s stock, valued at approximately $126,848,000.

A number of other institutional investors have also modified their holdings of the company. Stance Capital LLC purchased a new stake in shares of Nucor in the 3rd quarter valued at $25,000. Strive Financial Group LLC purchased a new position in Nucor during the 4th quarter valued at about $27,000. Bell Investment Advisors Inc acquired a new position in Nucor in the 2nd quarter valued at about $28,000. Motiv8 Investments LLC acquired a new position in Nucor in the 4th quarter valued at about $32,000. Finally, Bartlett & CO. Wealth Management LLC increased its stake in Nucor by 49.2% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 63 shares during the period. 76.48% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Nucor

In related news, EVP Thomas J. Batterbee sold 4,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $261.02, for a total value of $1,044,080.00. Following the transaction, the executive vice president owned 16,138 shares of the company’s stock, valued at $4,212,340.76. This represents a 19.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP John J. Hollatz sold 10,560 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total value of $2,729,337.60. Following the completion of the sale, the executive vice president owned 97,865 shares in the company, valued at approximately $25,294,187.90. This represents a 9.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 18,528 shares of company stock valued at $4,793,035. Insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Seaport Research Partners increased their price target on shares of Nucor from $245.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. CICC Research began coverage on shares of Nucor in a report on Monday, May 25th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. upped their target price on shares of Nucor from $240.00 to $282.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 10th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Nucor in a report on Tuesday, August 11th. Finally, Bank of America decreased their price target on shares of Nucor from $290.00 to $280.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $273.31.

Nucor Stock Down 2.9%

NUE stock opened at $264.74 on Wednesday. The company’s 50 day moving average price is $247.76 and its 200 day moving average price is $215.68. The firm has a market capitalization of $60.06 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 0.60 and a beta of 1.89. Nucor Corporation has a fifty-two week low of $131.32 and a fifty-two week high of $280.11. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.46 by $0.38. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The company had revenue of $10.40 billion during the quarter, compared to the consensus estimate of $10.15 billion. During the same quarter in the previous year, the firm earned $2.60 earnings per share. The firm’s quarterly revenue was up 23.0% on a year-over-year basis. On average, equities research analysts anticipate that Nucor Corporation will post 17.95 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Tuesday, June 30th. Nucor’s dividend payout ratio (DPR) is presently 17.86%.

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.