Public Employees Retirement System of Ohio Grows Stock Holdings in Nucor Co. (NYSE:NUE)

Public Employees Retirement System of Ohio raised its position in Nucor Co. (NYSE:NUE) by 9.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 130,555 shares of the basic materials company’s stock after acquiring an additional 10,781 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Nucor were worth $19,628,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of NUE. McClarren Financial Advisors Inc. increased its position in shares of Nucor by 129.0% in the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 89 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of Nucor during the third quarter valued at about $26,000. Coastline Trust Co bought a new position in Nucor in the third quarter worth about $29,000. Brown Lisle Cummings Inc. bought a new position in Nucor in the third quarter worth about $30,000. Finally, Salomon & Ludwin LLC boosted its position in Nucor by 45.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NUE shares. Morgan Stanley lowered their target price on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Argus raised shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. JPMorgan Chase & Co. lowered their price target on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. BMO Capital Markets decreased their target price on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday, September 18th. Finally, The Goldman Sachs Group initiated coverage on Nucor in a research note on Monday, December 2nd. They issued a “buy” rating and a $190.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $190.50.

Nucor Stock Down 2.8 %

NUE stock opened at $140.57 on Wednesday. The firm has a market cap of $33.01 billion, a PE ratio of 13.58 and a beta of 1.55. The business has a 50 day moving average of $150.56 and a 200 day moving average of $152.29. Nucor Co. has a twelve month low of $133.42 and a twelve month high of $203.00. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26.

Nucor (NYSE:NUE) last posted its earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.09. The business had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The company’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same quarter last year, the company earned $4.57 EPS. On average, research analysts forecast that Nucor Co. will post 8.5 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were paid a $0.54 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.54%. Nucor’s dividend payout ratio (DPR) is currently 20.87%.

Insider Transactions at Nucor

In related news, CFO Stephen D. Laxton sold 4,712 shares of Nucor stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total transaction of $798,825.36. Following the transaction, the chief financial officer now directly owns 82,132 shares in the company, valued at approximately $13,923,837.96. The trade was a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Allen C. Behr sold 4,968 shares of Nucor stock in a transaction on Monday, November 11th. The shares were sold at an average price of $159.72, for a total value of $793,488.96. Following the transaction, the executive vice president now owns 85,376 shares in the company, valued at $13,636,254.72. This trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,680 shares of company stock worth $4,773,724 in the last ninety days. Insiders own 0.64% of the company’s stock.

Nucor Company Profile

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.