Sumitomo Life Insurance Co. Trims Stock Position in Nucor Corporation $NUE

Sumitomo Life Insurance Co. lowered its holdings in shares of Nucor Corporation (NYSE:NUE) by 5.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,863 shares of the basic materials company’s stock after selling 342 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Nucor were worth $759,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NUE. Hudson Capital Management LLC grew its stake in shares of Nucor by 6.6% during the 2nd quarter. Hudson Capital Management LLC now owns 34,784 shares of the basic materials company’s stock valued at $4,506,000 after acquiring an additional 2,154 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in shares of Nucor by 138.5% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 121,543 shares of the basic materials company’s stock valued at $15,745,000 after acquiring an additional 70,581 shares during the period. Oppenheimer Asset Management Inc. bought a new position in shares of Nucor during the 2nd quarter valued at approximately $5,225,000. Envestnet Asset Management Inc. grew its stake in shares of Nucor by 12.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 305,006 shares of the basic materials company’s stock valued at $36,704,000 after acquiring an additional 33,700 shares during the period. Finally, Verdence Capital Advisors LLC grew its stake in shares of Nucor by 78.1% during the 2nd quarter. Verdence Capital Advisors LLC now owns 8,134 shares of the basic materials company’s stock valued at $1,054,000 after acquiring an additional 3,568 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Transactions at Nucor

In other news, EVP Daniel R. Needham sold 7,200 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $146.00, for a total transaction of $1,051,200.00. Following the sale, the executive vice president directly owned 92,179 shares of the company’s stock, valued at $13,458,134. This represents a 7.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael D. Keller sold 6,088 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $148.41, for a total value of $903,520.08. Following the sale, the insider owned 22,464 shares in the company, valued at $3,333,882.24. The trade was a 21.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 23,288 shares of company stock valued at $3,403,720 in the last ninety days. Corporate insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on NUE. Citigroup upped their price target on Nucor from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday. BMO Capital Markets restated an “outperform” rating on shares of Nucor in a research note on Wednesday. Jefferies Financial Group upgraded Nucor from a “hold” rating to a “buy” rating and upped their price target for the stock from $135.00 to $170.00 in a research note on Thursday, July 31st. Wall Street Zen upgraded Nucor from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Morgan Stanley upped their price target on Nucor from $152.00 to $165.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Nucor currently has an average rating of “Moderate Buy” and an average price target of $164.30.

Nucor Stock Up 0.4%

Shares of NUE opened at $150.33 on Monday. The stock has a market capitalization of $34.51 billion, a price-to-earnings ratio of 21.11, a price-to-earnings-growth ratio of 1.14 and a beta of 1.75. Nucor Corporation has a 1 year low of $97.59 and a 1 year high of $170.52. The business’s 50 day simple moving average is $140.95 and its 200-day simple moving average is $132.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.77 and a quick ratio of 1.51.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, October 27th. The basic materials company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.33. The business had revenue of $8.52 billion for the quarter, compared to analysts’ expectations of $8.27 billion. Nucor had a return on equity of 7.80% and a net margin of 5.18%.The company’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.49 EPS. Nucor has set its Q4 2025 guidance at -2.630 EPS. As a group, equities analysts expect that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Nucor’s dividend payout ratio is 30.90%.

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.