Sumitomo Mitsui Trust Group Inc. Decreases Stock Position in Nucor Corporation $NUE

Sumitomo Mitsui Trust Group Inc. decreased its position in Nucor Corporation (NYSE:NUE) by 5.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 556,942 shares of the basic materials company’s stock after selling 29,494 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.24% of Nucor worth $94,179,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in Nucor during the 4th quarter valued at $609,002,000. AQR Capital Management LLC increased its stake in Nucor by 580.9% during the 2nd quarter. AQR Capital Management LLC now owns 653,845 shares of the basic materials company’s stock worth $84,699,000 after buying an additional 557,819 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings in Nucor by 169.0% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 779,940 shares of the basic materials company’s stock worth $127,216,000 after buying an additional 489,950 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Nucor by 27.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,780,423 shares of the basic materials company’s stock worth $290,405,000 after buying an additional 383,952 shares in the last quarter. Finally, M&T Bank Corp boosted its position in Nucor by 494.5% in the 4th quarter. M&T Bank Corp now owns 434,511 shares of the basic materials company’s stock valued at $70,873,000 after buying an additional 361,417 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Stock Up 2.3%

NYSE:NUE traded up $5.00 during mid-day trading on Friday, reaching $227.28. The stock had a trading volume of 786,569 shares, compared to its average volume of 1,767,844. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55. The company has a market capitalization of $51.76 billion, a price-to-earnings ratio of 22.50, a price-to-earnings-growth ratio of 0.51 and a beta of 1.91. Nucor Corporation has a 1-year low of $131.32 and a 1-year high of $270.90. The stock’s 50 day simple moving average is $238.59 and its two-hundred day simple moving average is $199.17.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.41. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The firm had revenue of $9.50 billion for the quarter, compared to analysts’ expectations of $8.88 billion. During the same quarter in the prior year, the firm posted $0.77 earnings per share. Nucor’s revenue for the quarter was up 21.3% compared to the same quarter last year. Equities analysts anticipate that Nucor Corporation will post 17.68 EPS for the current year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Nucor’s dividend payout ratio is currently 22.18%.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Allen C. Behr sold 10,096 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $226.08, for a total transaction of $2,282,503.68. Following the completion of the sale, the executive vice president owned 62,871 shares in the company, valued at $14,213,875.68. The trade was a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Randy J. Spicer sold 2,500 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $225.00, for a total transaction of $562,500.00. Following the sale, the executive vice president directly owned 20,510 shares in the company, valued at $4,614,750. This trade represents a 10.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 82,378 shares of company stock worth $18,963,930. 0.62% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on NUE shares. Bank of America lowered their target price on Nucor from $290.00 to $280.00 and set a “buy” rating for the company in a research note on Thursday. CICC Research started coverage on Nucor in a research note on Monday, May 25th. They issued an “outperform” rating on the stock. Weiss Ratings upgraded Nucor from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 14th. Wall Street Zen upgraded Nucor from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Finally, UBS Group downgraded Nucor from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $190.00 to $224.00 in a report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $266.15.

Nucor Company Profile

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.