Nucor Corporation (NUE) Position Lowered by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. cut its stake in Nucor Corporation (NYSE:NUE) by 21.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 4,303 shares of the basic materials company’s stock after selling 1,141 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Nucor Corporation were worth $249,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Palouse Capital Management Inc. boosted its stake in shares of Nucor Corporation by 83.2% in the second quarter. Palouse Capital Management Inc. now owns 124,082 shares of the basic materials company’s stock valued at $7,181,000 after buying an additional 56,361 shares in the last quarter. Nicolet Bankshares Inc. boosted its stake in shares of Nucor Corporation by 78.6% in the second quarter. Nicolet Bankshares Inc. now owns 6,599 shares of the basic materials company’s stock valued at $382,000 after buying an additional 2,904 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of Nucor Corporation by 19.6% in the second quarter. Great West Life Assurance Co. Can now owns 617,166 shares of the basic materials company’s stock valued at $35,647,000 after buying an additional 101,266 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Nucor Corporation by 43.6% in the second quarter. Janney Montgomery Scott LLC now owns 96,411 shares of the basic materials company’s stock valued at $5,579,000 after buying an additional 29,288 shares in the last quarter. Finally, Harbour Capital Advisors LLC boosted its stake in shares of Nucor Corporation by 5,186.2% in the second quarter. Harbour Capital Advisors LLC now owns 366,491 shares of the basic materials company’s stock valued at $6,333,000 after buying an additional 359,558 shares in the last quarter. 75.99% of the stock is currently owned by institutional investors.

Shares of Nucor Corporation (NUE) traded down 0.44% on Friday, reaching $54.11. 2,279,463 shares of the company’s stock traded hands. Nucor Corporation has a 52-week low of $44.81 and a 52-week high of $68.00. The stock has a market cap of $17.28 billion, a price-to-earnings ratio of 15.19 and a beta of 1.51. The firm’s 50-day moving average is $58.20 and its 200-day moving average is $59.37.

Nucor Corporation (NYSE:NUE) last posted its quarterly earnings results on Thursday, July 20th. The basic materials company reported $1.00 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.06 by $0.06. The firm had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.08 billion. Nucor Corporation had a return on equity of 13.39% and a net margin of 6.08%. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.73 earnings per share. Analysts anticipate that Nucor Corporation will post $4.18 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Friday, June 30th were given a $0.3775 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 2.79%. Nucor Corporation’s payout ratio is currently 43.77%.

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Several analysts recently weighed in on the stock. BidaskClub cut shares of Nucor Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Longbow Research reaffirmed a “buy” rating and set a $66.00 price target on shares of Nucor Corporation in a research report on Thursday, July 27th. Cowen and Company reaffirmed a “market perform” rating and set a $63.00 price target (up previously from $62.00) on shares of Nucor Corporation in a research report on Tuesday, July 25th. Zacks Investment Research cut shares of Nucor Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Finally, Berenberg Bank reaffirmed a “buy” rating and set a $77.50 price target on shares of Nucor Corporation in a research report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $68.76.

In related news, Chairman John J. Ferriola sold 14,941 shares of the company’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $60.17, for a total transaction of $898,999.97. Following the completion of the transaction, the chairman now owns 361,847 shares in the company, valued at $21,772,333.99. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David A. Sumoski sold 2,537 shares of the company’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $61.66, for a total transaction of $156,431.42. Following the sale, the insider now directly owns 62,434 shares in the company, valued at approximately $3,849,680.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,104 shares of company stock valued at $1,213,595. Company insiders own 0.70% of the company’s stock.

Nucor Corporation Company Profile

Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).

Institutional Ownership by Quarter for Nucor Corporation (NYSE:NUE)

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