Daiwa Securities Group Inc. Has $7.18 Million Stake in Nucor Co. (NYSE:NUE)

Daiwa Securities Group Inc. lifted its stake in Nucor Co. (NYSE:NUE) by 19.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,549 shares of the basic materials company’s stock after purchasing an additional 9,810 shares during the period. Daiwa Securities Group Inc.’s holdings in Nucor were worth $7,183,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. CWA Asset Management Group LLC acquired a new stake in shares of Nucor in the 3rd quarter valued at $333,000. Covestor Ltd boosted its holdings in Nucor by 103.0% in the third quarter. Covestor Ltd now owns 1,015 shares of the basic materials company’s stock valued at $153,000 after acquiring an additional 515 shares during the last quarter. Axxcess Wealth Management LLC increased its position in Nucor by 1.2% in the third quarter. Axxcess Wealth Management LLC now owns 8,468 shares of the basic materials company’s stock worth $1,273,000 after purchasing an additional 100 shares during the period. Ashton Thomas Securities LLC bought a new stake in Nucor during the 3rd quarter worth about $26,000. Finally, GSA Capital Partners LLP acquired a new position in Nucor during the 3rd quarter valued at about $239,000. Institutional investors own 76.48% of the company’s stock.

Analyst Ratings Changes

NUE has been the subject of several analyst reports. Morgan Stanley lifted their price target on shares of Nucor from $154.00 to $167.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. StockNews.com raised shares of Nucor from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. Citigroup cut their price target on Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. JPMorgan Chase & Co. boosted their target price on Nucor from $150.00 to $156.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Argus set a $155.00 price target on Nucor in a research note on Wednesday, March 5th. Four investment 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 stock. According to MarketBeat.com, Nucor currently has a consensus rating of “Moderate Buy” and an average price target of $164.33.

Nucor Trading Up 2.7 %

NYSE NUE opened at $130.07 on Wednesday. Nucor Co. has a one year low of $112.25 and a one year high of $203.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48. The firm has a market cap of $29.99 billion, a P/E ratio of 15.47, a P/E/G ratio of 0.96 and a beta of 1.58. The stock’s 50-day moving average is $128.83 and its 200-day moving average is $138.81.

Nucor (NYSE:NUE) last announced its earnings results on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, topping the consensus estimate of $0.94 by $0.28. Nucor had a net margin of 6.60% and a return on equity of 9.85%. During the same quarter in the prior year, the company posted $3.16 EPS. Sell-side analysts anticipate that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be given a $0.55 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.20 annualized dividend and a yield of 1.69%. Nucor’s dividend payout ratio is currently 26.16%.

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.