Public Employees Retirement System of Ohio lowered its stake in shares of Nucor Co. (NYSE:NUE) by 6.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,298 shares of the basic materials company’s stock after selling 9,113 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Nucor were worth $6,739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently added to or reduced their stakes in NUE. Geode Capital Management LLC lifted its position in Nucor by 11.3% during the fourth quarter. Geode Capital Management LLC now owns 4,998,590 shares of the basic materials company’s stock valued at $258,607,000 after acquiring an additional 506,988 shares during the last quarter. Janus Henderson Group PLC grew its stake in Nucor by 92.9% during the 1st quarter. Janus Henderson Group PLC now owns 310,558 shares of the basic materials company’s stock worth $18,125,000 after buying an additional 149,548 shares during the last quarter. Moors & Cabot Inc. purchased a new stake in Nucor in the first quarter valued at about $290,000. Gamco Investors INC. ET AL purchased a new stake in Nucor in the first quarter valued at about $928,000. Finally, First Allied Advisory Services Inc. boosted its holdings in Nucor by 1.4% in the first quarter. First Allied Advisory Services Inc. now owns 23,786 shares of the basic materials company’s stock worth $1,394,000 after acquiring an additional 322 shares in the last quarter. Institutional investors and hedge funds own 77.35% of the company’s stock.
Nucor stock traded up $0.15 during trading hours on Wednesday, hitting $52.78. 52,734 shares of the stock traded hands, compared to its average volume of 1,688,744. The firm’s 50 day moving average price is $50.86 and its 200-day moving average price is $54.69. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 1.76. The stock has a market capitalization of $15.53 billion, a price-to-earnings ratio of 6.92, a P/E/G ratio of 0.89 and a beta of 1.62. Nucor Co. has a 1 year low of $46.10 and a 1 year high of $66.03.
Nucor (NYSE:NUE) last announced its quarterly earnings data on Thursday, July 18th. The basic materials company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.01. Nucor had a return on equity of 21.65% and a net margin of 8.84%. The firm had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $6 billion. During the same period last year, the business posted $2.07 earnings per share. The company’s revenue for the quarter was down 8.7% compared to the same quarter last year. Research analysts forecast that Nucor Co. will post 4.82 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.60 annualized dividend and a yield of 3.03%. Nucor’s dividend payout ratio (DPR) is presently 21.00%.
In other Nucor news, insider Ladd R. Hall sold 28,998 shares of Nucor stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $56.90, for a total transaction of $1,649,986.20. Following the completion of the sale, the insider now directly owns 292,776 shares in the company, valued at approximately $16,658,954.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman John J. Ferriola sold 19,193 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $56.37, for a total transaction of $1,081,909.41. Following the completion of the sale, the chairman now directly owns 475,921 shares in the company, valued at $26,827,666.77. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,203 shares of company stock worth $3,465,601. 0.96% of the stock is owned by corporate insiders.
A number of equities research analysts have recently weighed in on NUE shares. Bank of America dropped their price target on Nucor from $50.00 to $46.00 and set an “underperform” rating on the stock in a research note on Wednesday, September 4th. Deutsche Bank lowered shares of Nucor from a “buy” rating to a “hold” rating in a research report on Thursday, May 30th. Goldman Sachs Group lowered their target price on shares of Nucor from $70.00 to $59.00 and set a “buy” rating for the company in a research note on Tuesday, June 4th. Credit Suisse Group set a $61.00 target price on shares of Nucor and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, KeyCorp dropped their target price on shares of Nucor from $61.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 27th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $62.40.
Nucor Company Profile
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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