Nucor Co. (NYSE:NUE) Shares Acquired by Global X Japan Co. Ltd.

Global X Japan Co. Ltd. boosted its holdings in Nucor Co. (NYSE:NUE) by 35.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,681 shares of the basic materials company’s stock after acquiring an additional 955 shares during the quarter. Global X Japan Co. Ltd.’s holdings in Nucor were worth $430,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in shares of Nucor by 2.9% in the third quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock valued at $1,724,117,000 after acquiring an additional 326,181 shares in the last quarter. National Pension Service boosted its stake in Nucor by 3.2% during the 3rd quarter. National Pension Service now owns 652,502 shares of the basic materials company’s stock valued at $98,097,000 after purchasing an additional 20,258 shares in the last quarter. Everence Capital Management Inc. acquired a new position in shares of Nucor during the 4th quarter valued at $565,000. BIP Wealth LLC bought a new stake in shares of Nucor in the 3rd quarter worth $681,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Nucor by 1.3% in the third quarter. Geode Capital Management LLC now owns 5,861,945 shares of the basic materials company’s stock valued at $883,732,000 after buying an additional 74,569 shares during the period. Institutional investors own 76.48% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Jefferies Financial Group lifted 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. StockNews.com cut shares of Nucor from a “hold” rating to a “sell” rating in a research note on Monday, February 3rd. The Goldman Sachs Group initiated coverage on shares of Nucor in a research note on Monday, December 2nd. They set a “buy” rating and a $190.00 target price for the company. Citigroup decreased their price target on shares of Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, Morgan Stanley cut their price objective on Nucor from $166.00 to $154.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Nucor presently has an average rating of “Moderate Buy” and a consensus price target of $163.13.

Insiders Place Their Bets

In other Nucor news, EVP Allen C. Behr sold 4,968 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $159.72, for a total value of $793,488.96. Following the transaction, the executive vice president now directly owns 85,376 shares of the company’s stock, valued at $13,636,254.72. This represents a 5.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.64% of the company’s stock.

Nucor Stock Performance

Shares of Nucor stock opened at $130.18 on Friday. Nucor Co. has a 12 month low of $112.25 and a 12 month 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. The stock has a market cap of $30.57 billion, a PE ratio of 15.48 and a beta of 1.60. The business has a fifty day simple moving average of $126.70 and a 200-day simple moving average of $141.47.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.28. Nucor had a return on equity of 9.85% and a net margin of 6.60%. During the same quarter last year, the firm posted $3.16 earnings per share. On average, sell-side analysts anticipate that Nucor Co. will post 7.88 EPS for the current fiscal year.

Nucor Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Tuesday, December 31st will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Nucor’s previous quarterly dividend of $0.54. Nucor’s dividend payout ratio is currently 26.16%.

About Nucor

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.