Healthcare of Ontario Pension Plan Trust Fund Makes New $46.73 Million Investment in Nucor Co. (NYSE:NUE)

Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Nucor Co. (NYSE:NUE) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 310,837 shares of the basic materials company’s stock, valued at approximately $46,731,000. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.13% of Nucor at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mizuho Securities USA LLC grew its stake in shares of Nucor by 8,530.1% in the third quarter. Mizuho Securities USA LLC now owns 1,595,179 shares of the basic materials company’s stock valued at $239,819,000 after acquiring an additional 1,576,695 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Nucor by 29.7% in the second quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock valued at $456,030,000 after acquiring an additional 660,866 shares in the last quarter. Ceredex Value Advisors LLC acquired a new position in shares of Nucor in the third quarter valued at about $74,829,000. International Assets Investment Management LLC grew its stake in shares of Nucor by 14,525.9% in the third quarter. International Assets Investment Management LLC now owns 326,889 shares of the basic materials company’s stock valued at $49,144,000 after acquiring an additional 324,654 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in shares of Nucor by 25.7% in the third quarter. Thrivent Financial for Lutherans now owns 1,283,111 shares of the basic materials company’s stock valued at $192,902,000 after acquiring an additional 262,493 shares in the last quarter. 76.48% of the stock is owned by institutional investors.

Nucor Stock Up 0.5 %

NUE stock opened at $154.77 on Thursday. The stock has a market capitalization of $36.34 billion, a P/E ratio of 14.95 and a beta of 1.55. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. Nucor Co. has a 12 month low of $133.42 and a 12 month high of $203.00. The firm has a 50-day moving average price of $150.35 and a 200-day moving average price of $153.68.

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 firm had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The business’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.57 earnings per share. As a group, equities research analysts anticipate that Nucor Co. will post 8.5 EPS for the current fiscal year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were issued a $0.54 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.40%. Nucor’s dividend payout ratio (DPR) is presently 20.87%.

Insider Activity at Nucor

In other Nucor news, CEO Leon J. Topalian sold 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the completion of the transaction, the chief executive officer now owns 172,136 shares in the company, valued at approximately $29,109,918.96. This trade represents a 6.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Allen C. Behr sold 4,968 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $159.72, for a total transaction of $793,488.96. Following the transaction, the executive vice president now owns 85,376 shares of the company’s stock, valued at approximately $13,636,254.72. The trade was a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,680 shares of company stock worth $4,773,724 in the last quarter. 0.64% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NUE shares. JPMorgan Chase & Co. decreased their price target on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Argus upgraded shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Morgan Stanley reduced their price objective on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets reduced their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Nucor has a consensus rating of “Moderate Buy” and a consensus target price of $190.57.

Nucor 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.