Mitsubishi UFJ Asset Management Co. Ltd. Acquires 30,432 Shares of Nucor Co. (NYSE:NUE)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Nucor Co. (NYSE:NUE) by 7.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 417,695 shares of the basic materials company’s stock after acquiring an additional 30,432 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.18% of Nucor worth $48,223,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Crews Bank & Trust bought a new position in Nucor in the 4th quarter worth $29,000. New Wave Wealth Advisors LLC bought a new position in Nucor in the fourth quarter worth about $33,000. Versant Capital Management Inc raised its stake in Nucor by 60.3% in the fourth quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock worth $35,000 after buying an additional 114 shares in the last quarter. Beacon Capital Management LLC lifted its holdings in Nucor by 29.1% in the fourth quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company’s stock worth $49,000 after buying an additional 94 shares during the period. Finally, Millstone Evans Group LLC bought a new stake in Nucor during the 4th quarter valued at approximately $50,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Trading Down 4.4 %

NYSE:NUE opened at $121.90 on Friday. The company has a market cap of $28.10 billion, a PE ratio of 14.50, a price-to-earnings-growth 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 has a 50 day simple moving average of $130.98 and a two-hundred day simple moving average of $137.29. Nucor Co. has a 12 month low of $112.25 and a 12 month high of $203.00.

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

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Monday, March 31st. Nucor’s dividend payout ratio (DPR) is presently 26.16%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Jefferies Financial Group increased their target price on Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. The Goldman Sachs Group started coverage on Nucor in a report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on shares of Nucor from $150.00 to $156.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. Citigroup decreased their price target on shares of Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, UBS Group raised shares of Nucor from a “neutral” rating to a “buy” rating and lifted their price target for the company from $156.00 to $160.00 in a research report on Monday, March 24th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $164.44.

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.