Sumitomo Mitsui Trust Group Inc. Purchases 1,470 Shares of Nucor Co. (NYSE:NUE)

Sumitomo Mitsui Trust Group Inc. lifted its holdings in Nucor Co. (NYSE:NUE) by 0.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 664,275 shares of the basic materials company’s stock after acquiring an additional 1,470 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.28% of Nucor worth $99,867,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. WealthPlan Investment Management LLC grew its position in shares of Nucor by 16.5% during the third quarter. WealthPlan Investment Management LLC now owns 69,855 shares of the basic materials company’s stock worth $10,502,000 after purchasing an additional 9,881 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Nucor during the third quarter worth about $239,000. Delta Financial Advisors LLC grew its position in shares of Nucor by 2.8% during the third quarter. Delta Financial Advisors LLC now owns 29,004 shares of the basic materials company’s stock worth $4,360,000 after purchasing an additional 778 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Nucor during the third quarter worth about $26,000. Finally, Crossmark Global Holdings Inc. grew its position in shares of Nucor by 1.9% during the third quarter. Crossmark Global Holdings Inc. now owns 45,128 shares of the basic materials company’s stock worth $6,785,000 after purchasing an additional 851 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Activity

In other news, CEO Leon J. Topalian sold 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total value of $1,860,210.00. Following the completion of the sale, the chief executive officer now directly owns 172,136 shares of the company’s stock, valued at $29,109,918.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Allen C. Behr sold 4,968 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $159.72, for a total transaction of $793,488.96. Following the completion of the sale, the executive vice president now directly owns 85,376 shares of the company’s stock, valued at approximately $13,636,254.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Leon J. Topalian sold 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total value of $1,860,210.00. Following the sale, the chief executive officer now directly owns 172,136 shares of the company’s stock, valued at $29,109,918.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,680 shares of company stock valued at $4,773,724 in the last ninety days. Insiders own 0.46% of the company’s stock.

Nucor Price Performance

NYSE:NUE opened at $152.22 on Thursday. The firm has a market capitalization of $35.74 billion, a price-to-earnings ratio of 14.75 and a beta of 1.55. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00. The business has a 50 day simple moving average of $148.37 and a 200-day simple moving average of $155.24. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.09. The business had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The company’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same period last year, the company earned $4.57 EPS. Equities analysts forecast that Nucor Co. will post 8.52 EPS for the current year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Friday, September 27th. Nucor’s payout ratio is 20.87%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NUE. Argus upgraded Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Morgan Stanley dropped their price target on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their price target on Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets dropped their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Nucor has a consensus rating of “Moderate Buy” and an average price target of $190.57.

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.