Mitsubishi UFJ Trust & Banking Corp Decreases Stock Holdings in Nucor Co. (NYSE:NUE)

Mitsubishi UFJ Trust & Banking Corp cut its position in shares of Nucor Co. (NYSE:NUE - Free Report) by 10.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 0.12% of Nucor worth $33,009,000 as of its most recent filing with the SEC.

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

Nucor Trading Down 1.2 %

Nucor stock traded down $1.52 during midday trading on Monday, reaching $120.43. 2,700,196 shares of the stock traded hands, compared to its average volume of 1,975,298. 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 firm has a market cap of $27.76 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58. The company has a 50-day simple moving average of $130.90 and a two-hundred day simple moving average of $137.12. Nucor Co. has a 12-month low of $112.25 and a 12-month high of $203.00.

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Nucor (NYSE:NUE - Get Free Report) last announced its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, topping the consensus estimate 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 quarter in the prior year, the company posted $3.16 EPS. Research analysts expect that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.20 annualized dividend and a yield of 1.83%. Nucor's dividend payout ratio (DPR) is 26.16%.

Wall Street Analyst Weigh In

Several research firms recently commented on NUE. Citigroup cut their price target on Nucor from $240.00 to $160.00 and set a "buy" rating for the company in a report on Thursday, December 19th. JPMorgan Chase & Co. lifted their target price on shares of Nucor from $150.00 to $156.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 11th. StockNews.com upgraded shares of Nucor from a "sell" rating to a "hold" rating in a report on Wednesday, February 12th. The Goldman Sachs Group initiated coverage on shares of Nucor in a report on Monday, December 2nd. They set a "buy" rating and a $190.00 price target for the company. Finally, Argus set a $155.00 price objective on Nucor in a report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus 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.