Daiwa Securities Group Inc. Buys 4,189 Shares of Nucor Co. (NYSE:NUE)

by · The Markets Daily

Daiwa Securities Group Inc. lifted its holdings in Nucor Co. (NYSE:NUE – Free Report) by 8.8% during the third quarter, HoldingsChannel.com reports. The firm owned 51,739 shares of the basic materials company’s stock after purchasing an additional 4,189 shares during the period. Daiwa Securities Group Inc.’s holdings in Nucor were worth $7,778,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. McClarren Financial Advisors Inc. increased its holdings in shares of Nucor by 129.0% in the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 89 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Nucor in the 3rd quarter valued at approximately $26,000. Coastline Trust Co acquired a new stake in shares of Nucor in the 3rd quarter valued at approximately $29,000. Brown Lisle Cummings Inc. acquired a new stake in Nucor during the 3rd quarter worth approximately $30,000. Finally, Salomon & Ludwin LLC boosted its position in Nucor by 45.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after buying an additional 72 shares during the period. Institutional investors own 76.48% of the company’s stock.

Insider Buying and Selling

In related news, CEO Leon J. Topalian sold 11,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total value of $1,860,210.00. Following the sale, the chief executive officer now directly owns 172,136 shares in the company, valued at approximately $29,109,918.96. The trade was a 6.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kenneth Rex Query sold 9,000 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the completion of the sale, the executive vice president now owns 98,770 shares in the company, valued at $14,499,436. This represents a 8.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,680 shares of company stock valued at $4,773,724. 0.64% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

NUE has been the subject of several analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Argus upgraded shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Morgan Stanley reduced their price target on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, BMO Capital Markets reduced their price target on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research report on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Nucor currently has an average rating of “Moderate Buy” and a consensus target price of $190.57.

Check Out Our Latest Stock Analysis on Nucor

Nucor Price Performance

NUE opened at $153.44 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61. The company has a market capitalization of $36.03 billion, a price-to-earnings ratio of 14.83 and a beta of 1.55. The firm’s fifty day moving average price is $149.88 and its two-hundred day moving average price is $153.81. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00.

Nucor (NYSE:NUE – Get Free Report) last issued its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.09. The company had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The firm’s quarterly revenue was down 15.2% on a year-over-year basis. During the same period in the previous year, the firm earned $4.57 EPS. As a group, analysts anticipate that Nucor Co. will post 8.52 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date was Friday, September 27th. Nucor’s dividend payout ratio (DPR) is currently 20.87%.

Nucor Company Profile

(Free Report)

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.

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