Sumitomo Mitsui DS Asset Management Company Ltd Has $4.85 Million Position in Nucor Co. (NYSE:NUE)

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Nucor Co. (NYSE:NUE) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,256 shares of the basic materials company’s stock after purchasing an additional 907 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Nucor were worth $4,849,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Nucor by 2.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,909,388 shares of the basic materials company’s stock valued at $617,915,000 after purchasing an additional 84,558 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Nucor by 29.7% in 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 purchasing an additional 660,866 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Nucor by 3.2% during the second quarter. Legal & General Group Plc now owns 2,160,803 shares of the basic materials company’s stock worth $341,580,000 after buying an additional 67,974 shares during the period. Nordea Investment Management AB raised its position in Nucor by 6.5% in the 1st quarter. Nordea Investment Management AB now owns 1,165,094 shares of the basic materials company’s stock valued at $230,572,000 after buying an additional 70,917 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its stake in Nucor by 11.6% in the 2nd quarter. Hsbc Holdings PLC now owns 1,069,920 shares of the basic materials company’s stock valued at $169,433,000 after acquiring an additional 111,177 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Activity at Nucor

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the sale, the executive vice president now directly owns 99,049 shares in the company, valued at $15,847,840. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.46% of the stock is owned by insiders.

Nucor Price Performance

NYSE:NUE opened at $158.24 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.85 and a current ratio of 2.93. The firm has a market cap of $37.94 billion, a price-to-earnings ratio of 9.31 and a beta of 1.55. Nucor Co. has a 52 week low of $133.42 and a 52 week high of $203.00. The firm’s 50-day simple moving average is $147.44 and its 200 day simple moving average is $160.49.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.37. The company had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $7.69 billion. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The firm’s quarterly revenue was down 15.2% on a year-over-year basis. During the same period in the previous year, the business earned $5.81 earnings per share. As a group, sell-side analysts predict that Nucor Co. will post 9.08 earnings per share for the current year.

Nucor Announces Dividend

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 $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, September 27th. Nucor’s payout ratio is currently 12.71%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NUE shares. Morgan Stanley lowered their price objective on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 18th. Argus upgraded Nucor to a “strong-buy” rating in a research note on Monday, August 26th. BMO Capital Markets reduced their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research report on Wednesday, September 18th. JPMorgan Chase & Co. reduced their target price on shares of Nucor from $174.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Finally, Bank of America decreased their price target on shares of Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $191.43.

Nucor 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.