Mitsubishi UFJ Trust & Banking Corp Sells 34,467 Shares of Nucor Co. (NYSE:NUE)

Mitsubishi UFJ Trust & Banking Corp decreased its position in shares of Nucor Co. (NYSE:NUE) by 10.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 282,827 shares of the basic materials company’s stock after selling 34,467 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.12% of Nucor worth $33,009,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp grew its stake in shares of Nucor by 2.9% in the third quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock valued at $1,724,117,000 after acquiring an additional 326,181 shares in the last quarter. Everence Capital Management Inc. bought a new stake in Nucor in the 4th quarter valued at about $565,000. Geode Capital Management LLC grew its position in shares of Nucor by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,861,945 shares of the basic materials company’s stock worth $883,732,000 after purchasing an additional 74,569 shares in the last quarter. InvesTrust bought a new position in shares of Nucor during the fourth quarter worth approximately $4,388,000. Finally, Wellington Management Group LLP raised its position in shares of Nucor by 15.8% in the third quarter. Wellington Management Group LLP now owns 249,984 shares of the basic materials company’s stock valued at $37,583,000 after buying an additional 34,149 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Trading Down 0.3 %

NUE opened at $127.18 on Thursday. The company has a market cap of $29.32 billion, a P/E ratio of 15.12, a PEG ratio of 0.96 and a beta of 1.58. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. The company’s 50 day moving average is $130.94 and its 200-day moving average is $137.49. Nucor Co. has a 1-year low of $112.25 and a 1-year high of $203.00.

Nucor (NYSE:NUE) last issued its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.28. Nucor had a net margin of 6.60% and a return on equity of 9.85%. During the same period last year, the company earned $3.16 EPS. Equities research analysts predict that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be given a dividend of $0.55 per share. The ex-dividend date is Monday, March 31st. This represents a $2.20 dividend on an annualized basis and a yield of 1.73%. Nucor’s dividend payout ratio is currently 26.16%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. StockNews.com upgraded Nucor from a “sell” rating to a “hold” rating in a research note on Wednesday, February 12th. UBS Group raised Nucor from a “neutral” rating to a “buy” rating and boosted their price target for the company from $156.00 to $160.00 in a research note on Monday. Citigroup cut their price objective on shares of Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Jefferies Financial Group raised their target price on shares of Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Finally, Argus set a $155.00 price target on shares of Nucor in a report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $164.78.

Nucor Company 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.