Daiwa Securities Group Inc. Boosts Holdings in Nucor Co. (NYSE:NUE)

Daiwa Securities Group Inc. raised its holdings in Nucor Co. (NYSE:NUE) by 5.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,038 shares of the basic materials company’s stock after buying an additional 2,434 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Nucor were worth $7,838,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Tyche Wealth Partners LLC purchased a new stake in Nucor in the 4th quarter valued at about $384,000. SVB Wealth LLC grew its holdings in Nucor by 1.5% in the 4th quarter. SVB Wealth LLC now owns 3,656 shares of the basic materials company’s stock valued at $636,000 after buying an additional 54 shares during the period. Waldron Private Wealth LLC grew its holdings in Nucor by 2.5% in the 4th quarter. Waldron Private Wealth LLC now owns 3,018 shares of the basic materials company’s stock valued at $525,000 after buying an additional 73 shares during the period. Strs Ohio grew its holdings in Nucor by 211.8% in the 4th quarter. Strs Ohio now owns 101,091 shares of the basic materials company’s stock valued at $17,593,000 after buying an additional 68,668 shares during the period. Finally, Freedom Day Solutions LLC grew its holdings in Nucor by 3.1% in the 4th quarter. Freedom Day Solutions LLC now owns 8,447 shares of the basic materials company’s stock valued at $1,470,000 after buying an additional 253 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Buying and Selling

In related news, insider Michael D. Keller sold 3,145 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total transaction of $609,092.15. Following the completion of the transaction, the insider now owns 24,873 shares in the company, valued at approximately $4,817,153.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Kenneth Rex Query sold 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the completion of the transaction, the executive vice president now owns 85,326 shares in the company, valued at approximately $15,902,206.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael D. Keller sold 3,145 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total value of $609,092.15. Following the sale, the insider now directly owns 24,873 shares of the company’s stock, valued at $4,817,153.91. The disclosure for this sale can be found here. Insiders sold 38,151 shares of company stock worth $7,308,683 in the last 90 days. 0.46% of the stock is owned by company insiders.

Nucor Price Performance

Shares of NUE opened at $190.77 on Friday. Nucor Co. has a 12 month low of $129.79 and a 12 month high of $203.00. The company has a market cap of $45.78 billion, a P/E ratio of 10.60 and a beta of 1.61. The stock has a fifty day moving average price of $191.09 and a 200 day moving average price of $173.32. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.57 and a quick ratio of 2.35.

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

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Thursday, March 28th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.13%. Nucor’s dividend payout ratio (DPR) is presently 12.01%.

Wall Street Analyst Weigh In

NUE has been the subject of several recent analyst reports. UBS Group began coverage on Nucor in a report on Tuesday, January 16th. They issued a “buy” rating and a $210.00 price target for the company. JPMorgan Chase & Co. boosted their target price on Nucor from $180.00 to $195.00 and gave the stock a “neutral” rating in a report on Tuesday. Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $180.00 to $240.00 in a report on Wednesday, March 13th. Finally, StockNews.com upgraded Nucor from a “hold” rating to a “buy” rating in a report on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Nucor has a consensus rating of “Moderate Buy” and a consensus target price of $192.83.

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.