Nucor Co. (NYSE:NUE) Shares Bought by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. grew its stake in Nucor Co. (NYSE:NUE) by 2.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,721 shares of the basic materials company’s stock after purchasing an additional 527 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Nucor were worth $2,885,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in NUE. Widmann Financial Services Inc. grew its position in Nucor by 4.0% during the third quarter. Widmann Financial Services Inc. now owns 1,800 shares of the basic materials company’s stock valued at $271,000 after buying an additional 70 shares during the period. Horrell Capital Management Inc. boosted its stake in shares of Nucor by 0.3% during the 4th quarter. Horrell Capital Management Inc. now owns 26,657 shares of the basic materials company’s stock worth $3,111,000 after acquiring an additional 76 shares in the last quarter. TCI Wealth Advisors Inc. grew its position in shares of Nucor by 4.4% during the 4th quarter. TCI Wealth Advisors Inc. now owns 2,157 shares of the basic materials company’s stock valued at $252,000 after acquiring an additional 91 shares during the period. Jessup Wealth Management Inc increased its stake in shares of Nucor by 0.9% in the 4th quarter. Jessup Wealth Management Inc now owns 10,528 shares of the basic materials company’s stock valued at $1,229,000 after purchasing an additional 93 shares in the last quarter. Finally, Redwood Investment Management LLC raised its holdings in Nucor by 1.0% in the 3rd quarter. Redwood Investment Management LLC now owns 9,092 shares of the basic materials company’s stock worth $1,365,000 after purchasing an additional 94 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Stock Performance

NYSE:NUE opened at $127.51 on Wednesday. The company has a market cap of $29.40 billion, a P/E ratio of 15.16, a P/E/G ratio of 0.96 and a beta of 1.58. Nucor Co. has a twelve month low of $112.25 and a twelve month high of $203.00. The company’s 50-day moving average price is $130.86 and its 200-day moving average price is $137.56. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.28. Nucor had a net margin of 6.60% and a return on equity of 9.85%. During the same period in the prior year, the business posted $3.16 earnings per share. On average, sell-side analysts forecast that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.73%. The ex-dividend date is Monday, March 31st. Nucor’s payout ratio is currently 26.16%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NUE. The Goldman Sachs Group initiated coverage on Nucor in a report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective on the stock. JPMorgan Chase & Co. lifted their price target on shares of Nucor from $150.00 to $156.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. StockNews.com raised shares of Nucor from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. UBS Group raised shares of Nucor from a “neutral” rating to a “buy” rating and increased their price objective for the company from $156.00 to $160.00 in a report on Monday. Finally, Jefferies Financial Group boosted their target price on shares of Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Nucor currently has an average rating of “Moderate Buy” and a consensus price target of $164.78.

About Nucor

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.