Tokio Marine Asset Management Co. Ltd. Increases Stock Position in Nucor Co. (NYSE:NUE)

Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Nucor Co. (NYSE:NUE) by 2.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,911 shares of the basic materials company’s stock after buying an additional 169 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Nucor were worth $1,029,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of NUE. GAMMA Investing LLC purchased a new position in shares of Nucor in the fourth quarter valued at approximately $301,000. Illinois Municipal Retirement Fund boosted its stake in shares of Nucor by 3.0% in the fourth quarter. Illinois Municipal Retirement Fund now owns 123,470 shares of the basic materials company’s stock valued at $21,489,000 after purchasing an additional 3,577 shares during the period. Wedge Capital Management L L P NC boosted its stake in shares of Nucor by 24.1% in the fourth quarter. Wedge Capital Management L L P NC now owns 42,365 shares of the basic materials company’s stock valued at $7,373,000 after purchasing an additional 8,230 shares during the period. RWA Wealth Partners LLC purchased a new position in shares of Nucor in the fourth quarter valued at approximately $227,000. Finally, Sage Mountain Advisors LLC purchased a new position in shares of Nucor in the fourth quarter valued at approximately $208,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Activity

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

Nucor Stock Performance

Shares of Nucor stock traded up $0.08 during trading on Friday, reaching $175.96. The company’s stock had a trading volume of 169,385 shares, compared to its average volume of 1,427,188. The company has a 50-day moving average price of $190.83 and a two-hundred day moving average price of $174.19. The firm has a market cap of $42.23 billion, a PE ratio of 10.35 and a beta of 1.61. Nucor Co. has a fifty-two week low of $129.79 and a fifty-two week high of $203.00. The company has a current ratio of 4.02, a quick ratio of 2.35 and a debt-to-equity ratio of 0.31.

Nucor (NYSE:NUE) last announced its earnings results on Monday, April 22nd. The basic materials company reported $3.46 EPS for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). The business had revenue of $8.14 billion during the quarter, compared to analyst estimates of $8.26 billion. Nucor had a net margin of 12.40% and a return on equity of 19.62%. The business’s revenue was down 6.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.45 earnings per share. On average, analysts forecast that Nucor Co. will post 12.93 EPS for the current year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, March 28th will be issued a $0.54 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.23%. Nucor’s payout ratio is 12.71%.

Wall Street Analyst Weigh In

NUE has been the subject of a number of recent research reports. StockNews.com downgraded shares of Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday. BMO Capital Markets decreased their price target on shares of Nucor from $210.00 to $200.00 and set a “market perform” rating for the company in a research note on Wednesday. Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $180.00 to $240.00 in a research note on Wednesday, March 13th. JPMorgan Chase & Co. decreased their price target on shares of Nucor from $195.00 to $190.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, UBS Group initiated coverage on shares of Nucor in a research note on Tuesday, January 16th. They issued a “buy” rating and a $210.00 price target for the company. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $193.14.

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.