Public Employees Retirement System of Ohio decreased its position in Nucor Co. (NYSE:NUE) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 120,852 shares of the basic materials company’s stock after selling 1,446 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Nucor were worth $6,153,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of NUE. Marshall Wace North America L.P. purchased a new position in shares of Nucor in the first quarter valued at $54,000. FMR LLC grew its holdings in Nucor by 123.0% during the 1st quarter. FMR LLC now owns 674,154 shares of the basic materials company’s stock valued at $39,337,000 after purchasing an additional 371,876 shares in the last quarter. NEXT Financial Group Inc grew its holdings in Nucor by 286.4% during the 2nd quarter. NEXT Financial Group Inc now owns 1,936 shares of the basic materials company’s stock valued at $106,000 after purchasing an additional 1,435 shares in the last quarter. AE Wealth Management LLC grew its holdings in Nucor by 32.6% during the 2nd quarter. AE Wealth Management LLC now owns 10,241 shares of the basic materials company’s stock valued at $564,000 after purchasing an additional 2,515 shares in the last quarter. Finally, BB&T Corp increased its stake in Nucor by 4.7% during the 2nd quarter. BB&T Corp now owns 17,152 shares of the basic materials company’s stock worth $945,000 after buying an additional 777 shares during the period. 78.39% of the stock is owned by institutional investors.
In other news, CEO John J. Ferriola sold 3,203 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $54.00, for a total value of $172,962.00. Following the completion of the sale, the chief executive officer now directly owns 453,954 shares in the company, valued at approximately $24,513,516. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Raymond S. Napolitan, Jr. sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $52.67, for a total value of $421,360.00. Following the sale, the executive vice president now directly owns 142,393 shares in the company, valued at $7,499,839.31. The disclosure for this sale can be found here. Company insiders own 0.96% of the company’s stock.
NUE has been the topic of a number of recent analyst reports. BNP Paribas began coverage on shares of Nucor in a report on Thursday, November 14th. They issued a “buy” rating and a $71.00 price objective on the stock. Bank of America lowered their target price on Nucor from $50.00 to $46.00 and set an “underperform” rating for the company in a research note on Wednesday, September 4th. KeyCorp reaffirmed a “buy” rating and set a $62.00 target price (up from $60.00) on shares of Nucor in a research report on Wednesday, November 13th. Exane BNP Paribas began coverage on Nucor in a research report on Thursday, November 14th. They set an “outperform” rating and a $71.00 target price on the stock. Finally, ValuEngine upgraded Nucor from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $61.22.
NUE opened at $56.64 on Tuesday. The stock has a market capitalization of $17.09 billion, a PE ratio of 7.43, a P/E/G ratio of 1.06 and a beta of 1.66. The firm’s fifty day moving average price is $54.52 and its 200 day moving average price is $52.64. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.36 and a quick ratio of 1.78. Nucor Co. has a 12-month low of $46.10 and a 12-month high of $62.78.
Nucor (NYSE:NUE) last posted its quarterly earnings data on Tuesday, October 22nd. The basic materials company reported $0.90 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.10. The firm had revenue of $5.46 billion for the quarter, compared to the consensus estimate of $5.57 billion. Nucor had a net margin of 7.62% and a return on equity of 16.90%. The firm’s revenue was down 19.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.33 EPS. On average, equities research analysts forecast that Nucor Co. will post 4.42 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.82%. Nucor’s dividend payout ratio (DPR) is presently 21.00%.
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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