Nucor Co. (NYSE:NUE) Position Increased by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. lifted its position in Nucor Co. (NYSE:NUE) by 3.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,480 shares of the basic materials company’s stock after acquiring an additional 189 shares during the period. Sumitomo Life Insurance Co.’s holdings in Nucor were worth $974,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Fortitude Family Office LLC raised its stake in Nucor by 54.1% during the 1st quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 59 shares during the period. GPS Wealth Strategies Group LLC raised its position in Nucor by 4.1% during the second quarter. GPS Wealth Strategies Group LLC now owns 1,630 shares of the basic materials company’s stock valued at $258,000 after buying an additional 64 shares during the period. Chilton Capital Management LLC lifted its stake in Nucor by 94.2% in the 1st quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 65 shares in the last quarter. Integrated Advisors Network LLC boosted its position in Nucor by 3.4% during the 4th quarter. Integrated Advisors Network LLC now owns 2,141 shares of the basic materials company’s stock worth $373,000 after acquiring an additional 70 shares during the period. Finally, Aptus Capital Advisors LLC grew its stake in Nucor by 2.1% during the 2nd quarter. Aptus Capital Advisors LLC now owns 3,457 shares of the basic materials company’s stock valued at $546,000 after acquiring an additional 71 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Buying and Selling

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the company’s 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 completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

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

Nucor Price Performance

Shares of NYSE:NUE opened at $154.26 on Thursday. The stock has a market capitalization of $36.99 billion, a P/E ratio of 9.07 and a beta of 1.55. The business has a 50-day moving average of $146.93 and a two-hundred day moving average of $161.06. Nucor Co. has a fifty-two week low of $133.42 and a fifty-two week high of $203.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85.

Nucor (NYSE:NUE) last issued its quarterly earnings data 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 business had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $7.69 billion. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The firm’s revenue was down 15.2% compared to the same quarter last year. During the same period last year, the business earned $5.81 EPS. On average, equities research analysts predict that Nucor Co. will post 9.1 EPS for the current fiscal year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.40%. Nucor’s payout ratio is presently 12.71%.

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.