Resona Asset Management Co. Ltd. Has $13.78 Million Position in Nucor Corporation $NUE

Resona Asset Management Co. Ltd. cut its stake in shares of Nucor Corporation (NYSE:NUE) by 3.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 82,151 shares of the basic materials company’s stock after selling 2,740 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Nucor were worth $13,784,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Axxcess Wealth Management LLC boosted its stake in shares of Nucor by 18.8% during the 1st quarter. Axxcess Wealth Management LLC now owns 11,647 shares of the basic materials company’s stock valued at $1,970,000 after buying an additional 1,844 shares during the period. Integrated Advisors Network LLC raised its holdings in shares of Nucor by 254.6% during the first quarter. Integrated Advisors Network LLC now owns 17,488 shares of the basic materials company’s stock worth $2,957,000 after acquiring an additional 12,556 shares in the last quarter. Unison Advisors LLC raised its holdings in shares of Nucor by 0.3% during the first quarter. Unison Advisors LLC now owns 43,133 shares of the basic materials company’s stock worth $7,318,000 after acquiring an additional 141 shares in the last quarter. Baxter Bros Inc. boosted its position in Nucor by 89.4% during the first quarter. Baxter Bros Inc. now owns 3,282 shares of the basic materials company’s stock valued at $555,000 after purchasing an additional 1,549 shares during the last quarter. Finally, Kiley Juergens Wealth Management LLC purchased a new position in Nucor in the first quarter valued at about $355,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Activity at Nucor

In related news, insider Michael D. Keller sold 4,554 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $225.86, for a total value of $1,028,566.44. Following the completion of the transaction, the insider directly owned 16,834 shares in the company, valued at approximately $3,802,127.24. This represents a 21.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John J. Hollatz sold 10,560 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total value of $2,729,337.60. Following the completion of the transaction, the executive vice president directly owned 97,865 shares of the company’s stock, valued at approximately $25,294,187.90. This trade represents a 9.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 82,378 shares of company stock worth $18,963,930 in the last three months. Company insiders own 0.62% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. CICC Research initiated coverage on Nucor in a research report on Monday, May 25th. They issued an “outperform” rating on the stock. Wall Street Zen raised Nucor from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. The Goldman Sachs Group increased their price objective on Nucor from $260.00 to $284.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. Argus lifted their target price on shares of Nucor from $200.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Finally, Zacks Research downgraded Nucor from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $266.15.

Nucor Stock Performance

NUE stock traded up $5.00 on Friday, reaching $227.28. 786,569 shares of the company were exchanged, compared to its average volume of 1,767,844. Nucor Corporation has a 12 month low of $131.32 and a 12 month high of $270.90. The stock’s fifty day moving average price is $238.59 and its 200 day moving average price is $199.17. The firm has a market capitalization of $51.76 billion, a PE ratio of 22.50, a PEG ratio of 0.51 and a beta of 1.91. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.41. The firm had revenue of $9.50 billion during the quarter, compared to the consensus estimate of $8.88 billion. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The business’s revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 EPS. On average, research analysts anticipate that Nucor Corporation will post 17.68 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th will be given a $0.56 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.0%. Nucor’s dividend payout ratio (DPR) is currently 22.18%.

About Nucor

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.