Resona Asset Management Co. Ltd. Makes New $10.21 Million Investment in Nucor Co. (NYSE:NUE)

Resona Asset Management Co. Ltd. purchased a new stake in Nucor Co. (NYSE:NUE) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 87,398 shares of the basic materials company’s stock, valued at approximately $10,213,000.

Other hedge funds also recently made changes to their positions in the company. Crews Bank & Trust acquired a new stake in Nucor in the 4th quarter valued at approximately $29,000. New Wave Wealth Advisors LLC acquired a new position in shares of Nucor during the fourth quarter valued at $33,000. Versant Capital Management Inc raised its stake in shares of Nucor by 60.3% during the fourth quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 114 shares in the last quarter. Beacon Capital Management LLC lifted its holdings in Nucor by 29.1% in the fourth quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 94 shares during the period. Finally, Millstone Evans Group LLC bought a new position in Nucor in the 4th quarter valued at about $50,000. Institutional investors own 76.48% of the company’s stock.

Nucor Trading Down 6.1 %

NYSE:NUE opened at $103.14 on Monday. The stock has a fifty day simple moving average of $130.19 and a 200 day simple moving average of $136.31. The firm has a market capitalization of $23.78 billion, a price-to-earnings ratio of 12.26, a price-to-earnings-growth ratio of 0.96 and a beta of 1.67. Nucor Co. has a 1-year low of $95.70 and a 1-year high of $203.00. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27.

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 period in the previous year, the business earned $3.16 earnings per share. Sell-side analysts forecast that Nucor Co. will post 7.64 earnings per share for the current year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.13%. The ex-dividend date is Monday, March 31st. Nucor’s dividend payout ratio (DPR) is currently 26.16%.

Analyst Upgrades and Downgrades

A number of research firms have commented on NUE. Morgan Stanley set a $164.00 price target on shares of Nucor in a research report on Monday, March 24th. Jefferies Financial Group boosted their target price on Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Argus set a $155.00 target price on Nucor in a research report on Wednesday, March 5th. Citigroup lowered their price target on Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, StockNews.com upgraded Nucor from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $164.44.

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.