Public Employees Retirement System of Ohio Sells 3,784 Shares of Nucor Corporation $NUE

Public Employees Retirement System of Ohio trimmed its stake in Nucor Corporation (NYSE:NUE) by 3.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 112,221 shares of the basic materials company’s stock after selling 3,784 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Nucor were worth $18,977,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of NUE. Norges Bank bought a new position in Nucor in the 4th quarter worth about $609,002,000. AQR Capital Management LLC increased its stake in Nucor by 580.9% during the 2nd quarter. AQR Capital Management LLC now owns 653,845 shares of the basic materials company’s stock valued at $84,699,000 after purchasing an additional 557,819 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in Nucor by 169.0% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 779,940 shares of the basic materials company’s stock valued at $127,216,000 after purchasing an additional 489,950 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Nucor by 27.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,780,423 shares of the basic materials company’s stock worth $290,405,000 after buying an additional 383,952 shares during the last quarter. Finally, M&T Bank Corp lifted its stake in shares of Nucor by 494.5% in the fourth quarter. M&T Bank Corp now owns 434,511 shares of the basic materials company’s stock worth $70,873,000 after buying an additional 361,417 shares in the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Nucor news, EVP Allen C. Behr sold 10,096 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $226.08, for a total transaction of $2,282,503.68. Following the completion of the sale, the executive vice president directly owned 62,871 shares in the company, valued at approximately $14,213,875.68. The trade was a 13.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael D. Keller sold 4,554 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $225.86, for a total value of $1,028,566.44. Following the transaction, the insider directly owned 16,834 shares in the company, valued at $3,802,127.24. The trade was a 21.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 82,378 shares of company stock worth $18,963,930 in the last 90 days. Insiders own 0.62% of the company’s stock.

Nucor Stock Performance

Shares of NYSE NUE opened at $247.81 on Friday. The firm’s 50-day moving average price is $239.91 and its 200-day moving average price is $204.18. The company has a quick ratio of 1.55, a current ratio of 2.90 and a debt-to-equity ratio of 0.30. The company has a market cap of $56.44 billion, a PE ratio of 24.54, a PEG ratio of 0.57 and a beta of 1.91. Nucor Corporation has a 52-week low of $131.32 and a 52-week high of $270.90.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.41. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The firm had revenue of $9.50 billion during the quarter, compared to analyst estimates of $8.88 billion. During the same period in the previous year, the business posted $0.77 earnings per share. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. As a group, analysts anticipate that Nucor Corporation will post 17.53 EPS for the current year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Nucor’s payout ratio is 22.18%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NUE. Seaport Research Partners increased their price target on shares of Nucor from $245.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. CICC Research initiated coverage on shares of Nucor in a report on Monday, May 25th. They issued an “outperform” rating for the company. Morgan Stanley upped their price objective on Nucor from $227.00 to $258.00 and gave the company an “equal weight” rating in a research report on Monday, June 22nd. BNP Paribas Exane increased their target price on Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Finally, Argus lifted their target price on Nucor from $200.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $266.31.

About Nucor

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.