Asset Management One Co. Ltd. Has $13.93 Million Stake in Nucor Co. (NYSE:NUE)

Asset Management One Co. Ltd. raised its stake in shares of Nucor Co. (NYSE:NUE) by 5.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 92,671 shares of the basic materials company’s stock after acquiring an additional 4,699 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Nucor were worth $13,932,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in NUE. Pacer Advisors Inc. increased its stake in Nucor by 29.7% during the second quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock valued at $456,030,000 after acquiring an additional 660,866 shares during the period. Ceredex Value Advisors LLC bought a new stake in shares of Nucor during the third quarter valued at approximately $74,829,000. International Assets Investment Management LLC raised its stake in shares of Nucor by 14,525.9% in the third quarter. International Assets Investment Management LLC now owns 326,889 shares of the basic materials company’s stock valued at $49,144,000 after purchasing an additional 324,654 shares in the last quarter. Swedbank AB bought a new position in Nucor in the first quarter worth $37,395,000. Finally, Captrust Financial Advisors boosted its stake in Nucor by 23.5% during the first quarter. Captrust Financial Advisors now owns 804,150 shares of the basic materials company’s stock worth $159,141,000 after buying an additional 153,077 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Stock Performance

NYSE NUE opened at $167.74 on Thursday. Nucor Co. has a 1-year low of $133.42 and a 1-year high of $203.00. The company has a 50 day moving average of $147.68 and a 200-day moving average of $155.96. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. The firm has a market cap of $39.81 billion, a price-to-earnings ratio of 16.21 and a beta of 1.55.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.09. The firm had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The business’s revenue was down 15.2% on a year-over-year basis. During the same period last year, the firm posted $4.57 EPS. On average, equities analysts forecast that Nucor Co. will post 8.65 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 annualized dividend and a yield of 1.29%. Nucor’s dividend payout ratio (DPR) is 20.87%.

Insiders Place Their Bets

In other Nucor news, EVP Kenneth Rex Query sold 9,000 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the completion of the transaction, the executive vice president now directly owns 98,770 shares of the company’s stock, valued at approximately $14,499,436. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NUE shares. Morgan Stanley reduced their price objective on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Argus upgraded shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. lowered their price objective on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets cut their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research report on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $190.57.

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.