Public Sector Pension Investment Board Acquires 900 Shares of Nucor Co. (NYSE:NUE)

Public Sector Pension Investment Board increased its stake in Nucor Co. (NYSE:NUE) by 9.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,000 shares of the basic materials company’s stock after acquiring an additional 900 shares during the quarter. Public Sector Pension Investment Board’s holdings in Nucor were worth $1,503,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. McClarren Financial Advisors Inc. lifted its stake 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 worth $25,000 after acquiring an additional 89 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of Nucor in the third quarter worth approximately $26,000. Coastline Trust Co acquired a new position in shares of Nucor in the third quarter worth approximately $29,000. Brown Lisle Cummings Inc. acquired a new position in shares of Nucor in the third quarter worth approximately $30,000. Finally, HHM Wealth Advisors LLC lifted its stake in shares of Nucor by 769.2% in the second quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 200 shares during the period. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor Trading Down 2.1 %

Shares of Nucor stock opened at $142.56 on Friday. The stock has a fifty day simple moving average of $150.67 and a 200 day simple moving average of $152.74. Nucor Co. has a 12-month low of $133.42 and a 12-month high of $203.00. The company has a market capitalization of $33.47 billion, a P/E ratio of 13.77 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 (NYSE:NUE) last announced its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.09. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. During the same quarter in the prior year, the company posted $4.57 earnings per share. Nucor’s revenue was down 15.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Nucor Co. will post 8.5 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were issued a dividend of $0.54 per share. The ex-dividend date was Friday, September 27th. This represents a $2.16 annualized dividend and a yield of 1.52%. Nucor’s dividend payout ratio (DPR) is currently 20.87%.

Insider Buying and Selling

In other Nucor news, EVP Allen C. Behr sold 4,968 shares of the business’s stock in a transaction on Monday, November 11th. The stock was 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 of the company’s stock, valued at approximately $13,636,254.72. The trade was a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kenneth Rex Query sold 9,000 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total value of $1,321,200.00. Following the completion of the transaction, the executive vice president now directly owns 98,770 shares in the company, valued at approximately $14,499,436. This represents a 8.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,680 shares of company stock worth $4,773,724. 0.46% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NUE shares. JPMorgan Chase & Co. cut their price objective on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Argus raised Nucor to a “strong-buy” rating in a research note on Monday, August 26th. The Goldman Sachs Group began 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. Morgan Stanley dropped their price target on 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 dropped their price target on 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 analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $190.50.

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.