Daiichi Life Insurance Co. Ltd. Invests $2.72 Million in Nucor Corporation $NUE

Daiichi Life Insurance Co. Ltd. bought a new stake in Nucor Corporation (NYSE:NUE) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 12,221 shares of the basic materials company’s stock, valued at approximately $2,722,000.

A number of other hedge funds have also recently modified their holdings of the stock. Commerce Bank acquired a new position in Nucor in the second quarter valued at $2,943,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Nucor during the second quarter worth about $2,679,000. Quantbot Technologies LP acquired a new stake in shares of Nucor during the second quarter worth about $580,000. Evolve Private Wealth LLC acquired a new stake in shares of Nucor during the second quarter worth about $939,000. Finally, Westpac Banking Corp purchased a new stake in shares of Nucor in the 2nd quarter valued at about $74,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on NUE shares. Zacks Research cut Nucor from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Argus boosted their price objective on Nucor from $200.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Wells Fargo & Company increased their price objective on Nucor from $283.00 to $297.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Morgan Stanley set a $270.00 target price on shares of Nucor in a research report on Wednesday, July 29th. Finally, Seaport Research Partners lifted their target price on shares of Nucor from $245.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $273.31.

Nucor Stock Up 0.1%

NUE opened at $243.89 on Monday. The business has a 50 day moving average price of $246.88 and a two-hundred day moving average price of $217.05. The company has a quick ratio of 1.36, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The company has a market cap of $55.33 billion, a PE ratio of 19.45, a P/E/G ratio of 0.90 and a beta of 1.89. Nucor Corporation has a 52 week low of $131.32 and a 52 week high of $280.11.

Nucor (NYSE:NUE) last announced its earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share for the quarter, beating the consensus estimate of $4.46 by $0.38. The company had revenue of $10.40 billion for the quarter, compared to the consensus estimate of $10.15 billion. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The company’s revenue was up 23.0% on a year-over-year basis. During the same period last year, the business posted $2.60 EPS. As a group, research analysts anticipate that Nucor Corporation will post 17.95 EPS for the current year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Nucor’s dividend payout ratio (DPR) is 17.86%.

Insider Activity at Nucor

In other Nucor news, COO Stephen D. Laxton sold 3,968 shares of the business’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total value of $1,019,617.28. Following the transaction, the chief operating officer directly owned 77,867 shares of the company’s stock, valued at approximately $20,008,704.32. The trade was a 4.85% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John J. Hollatz sold 10,560 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total transaction of $2,729,337.60. Following the completion of the transaction, the executive vice president directly owned 97,865 shares in the company, valued at $25,294,187.90. This represents a 9.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 18,528 shares of company stock worth $4,793,035 in the last three months. Insiders own 0.62% of the company’s stock.

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.