Sumitomo Mitsui Trust Holdings Inc. Has $139.24 Million Position in Nucor Co. (NYSE:NUE)

Sumitomo Mitsui Trust Holdings Inc. decreased its stake in Nucor Co. (NYSE:NUE) by 8.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 703,593 shares of the basic materials company’s stock after selling 61,386 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.29% of Nucor worth $139,241,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Cullinan Associates Inc. lifted its holdings in shares of Nucor by 430.6% during the 1st quarter. Cullinan Associates Inc. now owns 6,367 shares of the basic materials company’s stock valued at $1,260,000 after buying an additional 5,167 shares during the last quarter. Diversified Trust Co lifted its stake in shares of Nucor by 87.6% in the 1st quarter. Diversified Trust Co now owns 10,449 shares of the basic materials company’s stock valued at $2,068,000 after purchasing an additional 4,880 shares during the last quarter. Chapin Davis Inc. boosted its holdings in Nucor by 21.5% in the first quarter. Chapin Davis Inc. now owns 2,412 shares of the basic materials company’s stock worth $477,000 after purchasing an additional 426 shares in the last quarter. Successful Portfolios LLC increased its position in Nucor by 93.8% during the first quarter. Successful Portfolios LLC now owns 2,830 shares of the basic materials company’s stock worth $560,000 after buying an additional 1,370 shares during the last quarter. Finally, SteelPeak Wealth LLC raised its holdings in Nucor by 172.1% during the first quarter. SteelPeak Wealth LLC now owns 21,935 shares of the basic materials company’s stock valued at $4,353,000 after buying an additional 13,875 shares in the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Trading Up 0.1 %

NUE traded up $0.14 during mid-day trading on Wednesday, reaching $156.60. The stock had a trading volume of 235,762 shares, compared to its average volume of 1,461,508. The stock has a market capitalization of $37.55 billion, a P/E ratio of 9.20 and a beta of 1.57. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.48 and a current ratio of 4.02. Nucor Co. has a 52 week low of $140.07 and a 52 week high of $203.00. The firm’s fifty day simple moving average is $165.40 and its two-hundred day simple moving average is $177.66.

Nucor (NYSE:NUE) last released its earnings results on Monday, April 22nd. The basic materials company reported $3.46 EPS for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). The business had revenue of $8.14 billion for the quarter, compared to analyst estimates of $8.26 billion. Nucor had a return on equity of 19.62% and a net margin of 12.40%. Nucor’s revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the firm posted $4.45 EPS. On average, equities analysts predict that Nucor Co. will post 10.84 EPS for the current year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.54 per share. The ex-dividend date is Friday, June 28th. This represents a $2.16 annualized dividend and a dividend yield of 1.38%. Nucor’s dividend payout ratio is currently 12.71%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. BMO Capital Markets lowered their price target on Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a report on Monday, June 17th. Bank of America cut their target price on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. Jefferies Financial Group assumed coverage on Nucor in a research report on Monday, May 20th. They issued a “hold” rating and a $190.00 price target on the stock. StockNews.com lowered Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Finally, Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and increased their target price for the company from $180.00 to $240.00 in a research note on Wednesday, March 13th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $189.67.

About Nucor

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.