Canada Pension Plan Investment Board Acquires New Shares in Nucor Corporation $NUE

Canada Pension Plan Investment Board acquired a new position in shares of Nucor Corporation (NYSE:NUE) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 209,339 shares of the basic materials company’s stock, valued at approximately $46,630,000. Canada Pension Plan Investment Board owned about 0.09% of Nucor as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of NUE. Integrated Wealth Concepts LLC grew its stake in Nucor by 21.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock valued at $393,000 after acquiring an additional 568 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Nucor in the first quarter valued at about $259,000. Geneos Wealth Management Inc. lifted its holdings in shares of Nucor by 81.8% in the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 153 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Nucor in the second quarter valued at approximately $390,000. Finally, Cerity Partners LLC increased its stake in shares of Nucor by 51.9% during the 2nd quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock worth $5,263,000 after purchasing an additional 13,877 shares in the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Stock Down 0.2%

Shares of NYSE NUE opened at $252.19 on Friday. Nucor Corporation has a 1 year low of $131.32 and a 1 year high of $280.11. The firm’s 50 day moving average price is $246.51 and its 200 day moving average price is $218.75. The firm has a market cap of $57.21 billion, a P/E ratio of 20.11, a price-to-earnings-growth ratio of 0.94 and a beta of 1.89. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51.

Nucor (NYSE:NUE) last released its earnings results on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, topping the consensus estimate of $4.46 by $0.38. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The firm had revenue of $10.40 billion during the quarter, compared to analysts’ expectations of $10.15 billion. During the same period in the previous year, the company earned $2.60 EPS. Nucor’s revenue for the quarter was up 23.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Nucor Corporation will post 17.95 earnings per share for the current year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Nucor’s dividend payout ratio is presently 17.86%.

Insider Activity at Nucor

In related news, COO Stephen D. Laxton sold 3,968 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the transaction, the chief operating officer directly owned 77,867 shares in the company, valued at approximately $20,008,704.32. This represents a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP John J. Hollatz sold 10,560 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total value of $2,729,337.60. Following the completion of the sale, the executive vice president directly owned 97,865 shares in the company, valued at approximately $25,294,187.90. The trade was a 9.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 18,528 shares of company stock worth $4,793,035. 0.62% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Seaport Research Partners lifted their price objective on Nucor from $245.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. BNP Paribas Exane increased their target price on Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Morgan Stanley set a $270.00 price target on Nucor in a research report on Wednesday, July 29th. Citigroup restated a “buy” rating on shares of Nucor in a research report on Wednesday, July 29th. Finally, UBS Group upped their price objective on Nucor from $224.00 to $256.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Nucor has a consensus rating of “Moderate Buy” and a consensus target price of $272.38.

Nucor Company Profile

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.