Nucor Corporation $NUE Stake Lowered by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Nucor Corporation (NYSE:NUE) by 5.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 556,942 shares of the basic materials company’s stock after selling 29,494 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Nucor were worth $94,179,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Axxcess Wealth Management LLC lifted its holdings in shares of Nucor by 18.8% in the 1st quarter. Axxcess Wealth Management LLC now owns 11,647 shares of the basic materials company’s stock worth $1,970,000 after purchasing an additional 1,844 shares during the last quarter. Integrated Advisors Network LLC grew its stake in Nucor by 254.6% during the 1st quarter. Integrated Advisors Network LLC now owns 17,488 shares of the basic materials company’s stock worth $2,957,000 after buying an additional 12,556 shares during the last quarter. Unison Advisors LLC grew its stake in Nucor by 0.3% during the 1st quarter. Unison Advisors LLC now owns 43,133 shares of the basic materials company’s stock worth $7,318,000 after buying an additional 141 shares during the last quarter. Baxter Bros Inc. increased its position in Nucor by 89.4% in the first quarter. Baxter Bros Inc. now owns 3,282 shares of the basic materials company’s stock worth $555,000 after buying an additional 1,549 shares during the period. Finally, Kiley Juergens Wealth Management LLC acquired a new stake in Nucor in the first quarter worth $355,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Nucor from $292.00 to $283.00 and set an “overweight” rating for the company in a report on Thursday, June 18th. BNP Paribas Exane increased their price objective on shares of Nucor from $210.00 to $248.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. UBS Group downgraded shares of Nucor from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $190.00 to $224.00 in a research report on Tuesday, April 28th. Seaport Research Partners boosted their target price on shares of Nucor from $245.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Finally, Citigroup upped their target price on shares of Nucor from $180.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $266.15.

Insider Activity

In other Nucor news, EVP Noah C. Hanners sold 6,472 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $226.50, for a total value of $1,465,908.00. Following the sale, the executive vice president directly owned 50,377 shares in the company, valued at approximately $11,410,390.50. The trade was a 11.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John J. Hollatz sold 10,560 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total transaction of $2,729,337.60. Following the completion of the sale, the executive vice president directly owned 97,865 shares of the company’s stock, valued at $25,294,187.90. The trade was a 9.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 82,378 shares of company stock valued at $18,963,930 over the last quarter. Insiders own 0.62% of the company’s stock.

Nucor Price Performance

NUE traded up $5.00 during trading on Friday, reaching $227.28. The stock had a trading volume of 786,569 shares, compared to its average volume of 1,767,844. The firm has a market capitalization of $51.76 billion, a price-to-earnings ratio of 22.50, a price-to-earnings-growth ratio of 0.51 and a beta of 1.91. The company has a quick ratio of 1.55, a current ratio of 2.90 and a debt-to-equity ratio of 0.30. Nucor Corporation has a 1-year low of $131.32 and a 1-year high of $270.90. The stock has a 50 day moving average of $238.59 and a two-hundred day moving average of $199.17.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.41. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The company had revenue of $9.50 billion for the quarter, compared to analysts’ expectations of $8.88 billion. During the same period last year, the firm earned $0.77 EPS. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. As a group, equities analysts anticipate that Nucor Corporation will post 17.68 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Nucor’s payout ratio is presently 22.18%.

Nucor Profile

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.