Nomura Holdings Inc. Trims Stock Position in Nucor Co. (NYSE:NUE)

Nomura Holdings Inc. trimmed its holdings in Nucor Co. (NYSE:NUE) by 20.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 4,964 shares of the basic materials company’s stock after selling 1,269 shares during the period. Nomura Holdings Inc.’s holdings in Nucor were worth $864,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA purchased a new position in shares of Nucor during the 4th quarter worth $3,481,000. Nomura Asset Management Co. Ltd. increased its position in shares of Nucor by 6.1% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 262,385 shares of the basic materials company’s stock valued at $45,665,000 after acquiring an additional 15,058 shares during the last quarter. AIA Group Ltd raised its stake in shares of Nucor by 53.2% in the 4th quarter. AIA Group Ltd now owns 13,226 shares of the basic materials company’s stock valued at $2,302,000 after acquiring an additional 4,592 shares during the period. Sapient Capital LLC acquired a new position in shares of Nucor in the 4th quarter worth approximately $1,230,000. Finally, abrdn plc lifted its holdings in shares of Nucor by 41.7% in the 4th quarter. abrdn plc now owns 154,745 shares of the basic materials company’s stock worth $26,932,000 after acquiring an additional 45,521 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Price Performance

Nucor stock opened at $156.80 on Friday. The stock has a market cap of $37.59 billion, a P/E ratio of 9.22 and a beta of 1.60. The company has a fifty day simple moving average of $170.94 and a 200-day simple moving average of $178.06. The company has a current ratio of 4.02, a quick ratio of 2.48 and a debt-to-equity ratio of 0.31. Nucor Co. has a 12-month low of $140.07 and a 12-month high of $203.00.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, April 22nd. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.62 by ($0.16). Nucor had a return on equity of 19.62% and a net margin of 12.40%. The business had revenue of $8.14 billion for the quarter, compared to analyst estimates of $8.26 billion. During the same period in the prior year, the company posted $4.45 earnings per share. The company’s revenue was down 6.6% compared to the same quarter last year. Equities analysts expect that Nucor Co. will post 11.27 EPS for the current fiscal year.

Nucor Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have recently commented on NUE. Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and raised their price target for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. BMO Capital Markets cut their price target on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a research note on Monday. StockNews.com lowered shares of Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Jefferies Financial Group assumed coverage on shares of Nucor in a report on Monday, May 20th. They issued a “hold” rating and a $190.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their price target on shares of Nucor from $190.00 to $180.00 and set a “neutral” rating for the company in a research report on Tuesday, June 11th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Nucor currently has an average rating of “Hold” and a consensus target price of $188.38.

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.