Daiwa Securities Group Inc. Increases Position in Nucor Co. (NYSE:NUE)

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Daiwa Securities Group Inc. lifted its holdings in Nucor Co. (NYSE:NUE) by 464.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,872 shares of the basic materials company’s stock after purchasing an additional 55,842 shares during the period. Daiwa Securities Group Inc.’s holdings in Nucor were worth $3,455,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in NUE. Hills Bank & Trust Co. increased its stake in Nucor by 1.2% during the 2nd quarter. Hills Bank & Trust Co. now owns 20,045 shares of the basic materials company’s stock worth $1,104,000 after buying an additional 247 shares in the last quarter. Cibc World Markets Corp increased its stake in Nucor by 228.6% during the 2nd quarter. Cibc World Markets Corp now owns 393,707 shares of the basic materials company’s stock worth $21,693,000 after buying an additional 273,888 shares in the last quarter. Empowered Funds LLC purchased a new stake in Nucor during the 2nd quarter worth approximately $2,396,000. Sciencast Management LP purchased a new stake in Nucor during the 3rd quarter worth approximately $916,000. Finally, AGF Investments LLC purchased a new stake in Nucor during the 2nd quarter worth approximately $989,000. Hedge funds and other institutional investors own 77.52% of the company’s stock.

In related news, EVP Raymond S. Napolitan, Jr. sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $52.67, for a total value of $421,360.00. Following the transaction, the executive vice president now directly owns 142,393 shares in the company, valued at $7,499,839.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John J. Ferriola sold 3,203 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $54.00, for a total value of $172,962.00. Following the completion of the transaction, the chief executive officer now owns 453,954 shares in the company, valued at $24,513,516. The disclosure for this sale can be found here. 0.96% of the stock is owned by corporate insiders.

Several equities research analysts have commented on the company. ValuEngine upgraded Nucor from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Credit Suisse Group set a $61.00 price objective on Nucor and gave the stock a “buy” rating in a research note on Friday, July 19th. KeyCorp cut their price objective on Nucor from $61.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday, August 27th. Finally, Bank of America cut their price objective on Nucor from $50.00 to $46.00 and set an “underperform” rating for the company in a research note on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $58.14.

NUE stock opened at $55.56 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.36 and a quick ratio of 1.78. The business has a 50 day simple moving average of $52.33 and a 200-day simple moving average of $52.78. The firm has a market capitalization of $16.82 billion, a PE ratio of 7.29, a price-to-earnings-growth ratio of 1.05 and a beta of 1.65. Nucor Co. has a 1 year low of $46.10 and a 1 year high of $64.11.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Tuesday, October 22nd. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.10. The business had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.57 billion. Nucor had a return on equity of 16.90% and a net margin of 7.62%. The business’s revenue was down 19.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.33 earnings per share. On average, equities research analysts expect that Nucor Co. will post 4.39 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were given a $0.40 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.88%. Nucor’s dividend payout ratio (DPR) is presently 21.00%.

About Nucor

Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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