Public Employees Retirement System of Ohio decreased its position in Nucor Co. (NYSE:NUE) by 6.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 122,298 shares of the basic materials company’s stock after selling 9,113 shares during the period. Public Employees Retirement System of Ohio’s holdings in Nucor were worth $6,739,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in Nucor by 11.3% in 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 position in Nucor by 92.9% in the first quarter. Janus Henderson Group PLC now owns 310,558 shares of the basic materials company’s stock worth $18,125,000 after acquiring an additional 149,548 shares during the period. Moors & Cabot Inc. purchased a new position in Nucor in the first quarter worth approximately $290,000. Gamco Investors INC. ET AL acquired a new stake in Nucor during the first quarter worth $928,000. Finally, First Allied Advisory Services Inc. increased its stake in Nucor by 1.4% during 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 during the last quarter. 77.35% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently commented on NUE. Goldman Sachs Group decreased their price target on Nucor from $70.00 to $59.00 and set a “buy” rating on the stock in a research note on Tuesday, June 4th. Bank of America cut their price objective on Nucor from $50.00 to $46.00 and set an “underperform” rating for the company in a research report on Wednesday, September 4th. Deutsche Bank downgraded Nucor from a “buy” rating to a “hold” rating in a research report on Thursday, May 30th. KeyCorp reduced their price objective on shares of Nucor from $61.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, August 27th. Finally, Credit Suisse Group set a $61.00 price target on shares of Nucor and gave the company a “buy” rating in a research report on Friday, July 19th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $62.40.
Shares of NYSE NUE traded up $0.15 during midday trading on Wednesday, hitting $52.78. The company’s stock had a trading volume of 52,734 shares, compared to its average volume of 1,688,744. 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 firm has a market capitalization of $15.53 billion, a price-to-earnings ratio of 6.92, a price-to-earnings-growth ratio of 0.89 and a beta of 1.62. The business’s fifty day simple moving average is $50.86 and its two-hundred day simple moving average is $54.69. Nucor Co. has a 1 year low of $46.10 and a 1 year high of $66.03.
Nucor (NYSE:NUE) last announced its earnings results on Thursday, July 18th. The basic materials company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.01. The firm had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $6 billion. Nucor had a net margin of 8.84% and a return on equity of 21.65%. The firm’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.07 EPS. Analysts anticipate that Nucor Co. will post 4.82 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend is Thursday, September 26th. Nucor’s payout ratio is currently 21.00%.
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.
Featured Article: What is the role of the G-20?
Want to see what other hedge funds are holding NUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nucor Co. (NYSE:NUE).
Receive News & Ratings for Nucor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor and related companies with MarketBeat.com's FREE daily email newsletter.