Tokio Marine Asset Management Co. Ltd. Grows Holdings in Nucor Co. (NYSE:NUE)

Tokio Marine Asset Management Co. Ltd. raised its position in shares of Nucor Co. (NYSE:NUE) by 10.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,092 shares of the basic materials company’s stock after purchasing an additional 665 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Nucor were worth $1,066,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. National Pension Service raised its holdings in Nucor by 3.2% during the third quarter. National Pension Service now owns 652,502 shares of the basic materials company’s stock valued at $98,097,000 after acquiring an additional 20,258 shares during the period. CX Institutional raised its stake in Nucor by 52.8% during the 2nd quarter. CX Institutional now owns 17,245 shares of the basic materials company’s stock valued at $2,726,000 after purchasing an additional 5,960 shares during the period. Banco Santander S.A. lifted its holdings in Nucor by 86.2% in the 1st quarter. Banco Santander S.A. now owns 12,895 shares of the basic materials company’s stock worth $2,552,000 after purchasing an additional 5,971 shares in the last quarter. Ascension Asset Management LLC bought a new position in Nucor in the 2nd quarter worth approximately $885,000. Finally, Kimelman & Baird LLC purchased a new stake in Nucor during the 2nd quarter valued at approximately $6,655,000. 76.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Morgan Stanley dropped 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. BMO Capital Markets reduced their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday, September 18th. Finally, Argus raised Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Three 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. Based on data from MarketBeat, Nucor presently has an average rating of “Moderate Buy” and a consensus target price of $190.57.

Insider Transactions at Nucor

In other news, EVP Allen C. Behr sold 4,968 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $159.72, for a total value of $793,488.96. Following the transaction, the executive vice president now directly owns 85,376 shares in the company, valued at approximately $13,636,254.72. This represents a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Stephen D. Laxton sold 4,712 shares of Nucor stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total transaction of $798,825.36. Following the sale, the chief financial officer now owns 82,132 shares of the company’s stock, valued at $13,923,837.96. The trade was a 5.43 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,680 shares of company stock worth $4,773,724. 0.46% of the stock is currently owned by company insiders.

Nucor Stock Up 0.5 %

Shares of NYSE:NUE opened at $147.08 on Friday. The company has a market cap of $34.54 billion, a price-to-earnings ratio of 14.21 and a beta of 1.55. 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 company has a 50-day moving average price of $148.72 and a 200 day moving average price of $155.16. Nucor Co. has a 12 month low of $133.42 and a 12 month high of $203.00.

Nucor (NYSE:NUE) last released its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.09. The firm had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The business’s revenue was down 15.2% on a year-over-year basis. During the same quarter last year, the business earned $4.57 EPS. As a group, equities research analysts predict that Nucor Co. will post 8.52 earnings per share for the current year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.47%. Nucor’s dividend payout ratio is 20.87%.

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.