AIA Group Ltd Has $2.30 Million Position in Nucor Co. (NYSE:NUE)

AIA Group Ltd raised its holdings in Nucor Co. (NYSE:NUE) by 53.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,226 shares of the basic materials company’s stock after buying an additional 4,592 shares during the period. AIA Group Ltd’s holdings in Nucor were worth $2,302,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC grew its position in shares of Nucor by 127,059.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 155,232,061 shares of the basic materials company’s stock worth $20,461,138,000 after purchasing an additional 155,109,984 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Nucor by 0.4% during the 1st quarter. Geode Capital Management LLC now owns 5,438,353 shares of the basic materials company’s stock worth $841,209,000 after purchasing an additional 23,366 shares in the last quarter. Morgan Stanley grew its position in shares of Nucor by 30.0% during the 4th quarter. Morgan Stanley now owns 4,247,626 shares of the basic materials company’s stock worth $559,880,000 after purchasing an additional 979,824 shares in the last quarter. Northern Trust Corp grew its position in shares of Nucor by 3.7% during the 3rd quarter. Northern Trust Corp now owns 4,175,571 shares of the basic materials company’s stock worth $652,851,000 after purchasing an additional 149,589 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Nucor by 7.6% during the 3rd quarter. Invesco Ltd. now owns 2,262,832 shares of the basic materials company’s stock worth $353,794,000 after purchasing an additional 159,230 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Price Performance

Shares of NYSE:NUE opened at $190.19 on Friday. The company has a market cap of $45.64 billion, a price-to-earnings ratio of 10.60 and a beta of 1.61. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.57 and a quick ratio of 2.35. The firm has a 50 day simple moving average of $191.09 and a 200 day simple moving average of $173.32. Nucor Co. has a one year low of $129.79 and a one year high of $203.00.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, January 29th. The basic materials company reported $3.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.33. The firm had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.64 billion. Nucor had a net margin of 13.03% and a return on equity of 21.42%. The company’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same quarter last year, the firm earned $4.89 earnings per share. Research analysts predict that Nucor Co. will post 13.03 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Wednesday, March 27th. Nucor’s dividend payout ratio (DPR) is presently 12.01%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NUE. StockNews.com raised shares of Nucor from a “hold” rating to a “buy” rating in a report on Wednesday, April 10th. UBS Group began coverage on shares of Nucor in a report on Tuesday, January 16th. They set a “buy” rating and a $210.00 price target for the company. Citigroup raised shares of Nucor from a “neutral” rating to a “buy” rating and upped their price target for the stock from $180.00 to $240.00 in a report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. upped their price target on shares of Nucor from $180.00 to $195.00 and gave the stock a “neutral” rating in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Nucor has a consensus rating of “Moderate Buy” and an average price target of $192.83.

Insider Transactions at Nucor

In other news, EVP Douglas J. Jellison sold 19,506 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the completion of the sale, the executive vice president now directly owns 120,738 shares in the company, valued at $23,351,936.58. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider Michael D. Keller sold 3,145 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total transaction of $609,092.15. Following the completion of the sale, the insider now directly owns 24,873 shares in the company, valued at approximately $4,817,153.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Douglas J. Jellison sold 19,506 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the completion of the transaction, the executive vice president now owns 120,738 shares of the company’s stock, valued at $23,351,936.58. The disclosure for this sale can be found here. Insiders sold a total of 38,151 shares of company stock worth $7,308,683 over the last three months. 0.46% of the stock is owned by company insiders.

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.