Nippon Life Insurance Co. Cuts Position in Nucor Corporation (NUE)

Nippon Life Insurance Co. cut its position in shares of Nucor Corporation (NYSE:NUE) by 0.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 23,228 shares of the basic materials company’s stock after selling 32 shares during the period. Nippon Life Insurance Co.’s holdings in Nucor Corporation were worth $1,344,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Achmea Investment Management B.V. purchased a new stake in shares of Nucor Corporation during the first quarter worth approximately $4,047,000. Main Street Research LLC boosted its stake in shares of Nucor Corporation by 1.4% in the first quarter. Main Street Research LLC now owns 184,720 shares of the basic materials company’s stock worth $11,031,000 after buying an additional 2,489 shares during the period. Suntrust Banks Inc. boosted its stake in shares of Nucor Corporation by 5.3% in the first quarter. Suntrust Banks Inc. now owns 148,786 shares of the basic materials company’s stock worth $8,884,000 after buying an additional 7,440 shares during the period. Legal & General Group Plc boosted its stake in shares of Nucor Corporation by 2.5% in the first quarter. Legal & General Group Plc now owns 1,590,410 shares of the basic materials company’s stock worth $94,975,000 after buying an additional 38,454 shares during the period. Finally, Savant Capital LLC boosted its stake in shares of Nucor Corporation by 1.3% in the first quarter. Savant Capital LLC now owns 4,281 shares of the basic materials company’s stock worth $256,000 after buying an additional 55 shares during the period. 75.99% of the stock is owned by hedge funds and other institutional investors.

Shares of Nucor Corporation (NYSE NUE) opened at 54.11 on Monday. The company’s 50-day moving average price is $58.08 and its 200-day moving average price is $59.33. Nucor Corporation has a one year low of $44.81 and a one year high of $68.00. The company has a market capitalization of $17.28 billion, a price-to-earnings ratio of 15.19 and a beta of 1.51.

Nucor Corporation (NYSE:NUE) last released its earnings results on Thursday, July 20th. The basic materials company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by $0.06. Nucor Corporation had a return on equity of 13.39% and a net margin of 6.08%. The company had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.08 billion. During the same period last year, the company posted $0.73 earnings per share. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. On average, equities research analysts predict that Nucor Corporation will post $4.17 earnings per share for the current year.

The company also recently announced 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 annualized dividend and a yield of 2.79%. Nucor Corporation’s dividend payout ratio is presently 43.77%.

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A number of research firms have recently weighed in on NUE. Jefferies Group LLC restated a “buy” rating and issued a $68.00 target price on shares of Nucor Corporation in a report on Wednesday, July 19th. Longbow Research restated a “buy” rating and issued a $66.00 target price on shares of Nucor Corporation in a report on Thursday, July 27th. KeyCorp restated an “overweight” rating and issued a $66.00 target price (down previously from $72.00) on shares of Nucor Corporation in a report on Monday, June 26th. ValuEngine lowered Nucor Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 16th. Finally, Barclays PLC restated a “buy” rating and issued a $73.00 target price on shares of Nucor Corporation in a report on Friday, May 5th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $68.76.

In other news, Chairman John J. Ferriola sold 14,941 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was 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 directly owns 361,847 shares in the company, valued at $21,772,333.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David A. Sumoski sold 2,537 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $61.66, for a total value of $156,431.42. Following the transaction, the insider now owns 62,434 shares of the company’s stock, valued at $3,849,680.44. The disclosure for this sale can be found here. Insiders sold 20,104 shares of company stock valued at $1,213,595 over the last quarter. Corporate 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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