Ontario Teachers Pension Plan Board Sells 611 Shares of Nucor Co. (NYSE:NUE)

Ontario Teachers Pension Plan Board lowered its stake in shares of Nucor Co. (NYSE:NUE) by 2.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 20,744 shares of the basic materials company’s stock after selling 611 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Nucor were worth $3,610,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in Nucor in the 4th quarter worth approximately $377,631,000. International Assets Investment Management LLC purchased a new stake in Nucor during the 4th quarter valued at approximately $108,747,000. Pacer Advisors Inc. grew its holdings in Nucor by 13.0% during the 4th quarter. Pacer Advisors Inc. now owns 2,070,960 shares of the basic materials company’s stock valued at $360,430,000 after buying an additional 237,752 shares in the last quarter. Invesco Ltd. grew its holdings in Nucor by 7.6% during the 3rd quarter. Invesco Ltd. now owns 2,262,832 shares of the basic materials company’s stock valued at $353,794,000 after buying an additional 159,230 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Nucor by 3.7% during the 3rd quarter. Northern Trust Corp now owns 4,175,571 shares of the basic materials company’s stock valued at $652,851,000 after buying an additional 149,589 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Stock Performance

Shares of Nucor stock traded down $0.13 on Thursday, reaching $170.97. 242,269 shares of the stock were exchanged, compared to its average volume of 1,395,676. The company has a quick ratio of 2.48, a current ratio of 4.02 and a debt-to-equity ratio of 0.31. Nucor Co. has a twelve month low of $129.79 and a twelve month high of $203.00. The firm has a market capitalization of $40.99 billion, a price-to-earnings ratio of 10.05 and a beta of 1.65. The business has a 50 day moving average price of $185.22 and a two-hundred day moving average price of $177.57.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). The company had revenue of $8.14 billion during the quarter, compared to analyst estimates of $8.26 billion. Nucor had a net margin of 12.40% and a return on equity of 19.62%. The company’s revenue was down 6.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.45 earnings per share. Analysts anticipate that Nucor Co. will post 12.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NUE shares. Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and raised their price target for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. Jefferies Financial Group started coverage on Nucor in a research report on Monday. They issued a “hold” rating and a $190.00 price target for the company. StockNews.com downgraded Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. lowered their price target on Nucor from $195.00 to $190.00 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. Finally, BMO Capital Markets decreased their target price on Nucor from $210.00 to $200.00 and set a “market perform” rating for the company in a research report on Wednesday, April 24th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Nucor has a consensus rating of “Hold” and a consensus target price of $192.75.

Insider Buying and Selling

In other Nucor news, EVP Allen C. Behr sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $190.19, for a total value of $1,901,900.00. Following the completion of the sale, the executive vice president now directly owns 80,902 shares in the company, valued at approximately $15,386,751.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Douglas J. Jellison sold 19,506 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the transaction, the executive vice president now owns 120,738 shares of the company’s stock, valued at approximately $23,351,936.58. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Allen C. Behr sold 10,000 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $190.19, for a total value of $1,901,900.00. Following the transaction, the executive vice president now directly owns 80,902 shares in the company, valued at approximately $15,386,751.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,651 shares of company stock worth $6,283,648. 0.46% of the stock is owned by corporate insiders.

About Nucor

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.