Public Employees Retirement System of Ohio reduced its position in shares of Nucor Co. (NYSE:NUE) by 3.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,681 shares of the basic materials company’s stock after selling 4,261 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Nucor were worth $7,660,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Nucor by 1.3% in the second quarter. Vanguard Group Inc. now owns 25,573,754 shares of the basic materials company’s stock valued at $1,479,954,000 after purchasing an additional 319,596 shares during the period. Northern Trust Corp raised its position in shares of Nucor by 15.0% in the second quarter. Northern Trust Corp now owns 5,759,017 shares of the basic materials company’s stock valued at $333,275,000 after purchasing an additional 750,796 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Nucor by 3.4% in the third quarter. Dimensional Fund Advisors LP now owns 4,621,566 shares of the basic materials company’s stock valued at $258,974,000 after purchasing an additional 150,219 shares during the period. Prudential PLC raised its position in shares of Nucor by 28.2% in the second quarter. Prudential PLC now owns 2,260,300 shares of the basic materials company’s stock valued at $130,804,000 after purchasing an additional 496,700 shares during the period. Finally, Boston Partners raised its position in shares of Nucor by 3.7% in the third quarter. Boston Partners now owns 1,961,046 shares of the basic materials company’s stock valued at $109,897,000 after purchasing an additional 70,358 shares during the period. 74.30% of the stock is currently owned by hedge funds and other institutional investors.
NUE has been the topic of several research analyst reports. Credit Suisse Group increased their price objective on shares of Nucor from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, October 20th. Zacks Investment Research raised shares of Nucor from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Bank of America restated a “buy” rating and issued a $73.00 price target on shares of Nucor in a research note on Wednesday, September 6th. Citigroup set a $66.00 price target on shares of Nucor and gave the company a “buy” rating in a research note on Friday, October 20th. Finally, Macquarie began coverage on shares of Nucor in a research note on Wednesday, September 6th. They issued a “neutral” rating and a $57.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Nucor currently has an average rating of “Buy” and a consensus target price of $66.80.
Nucor (NYSE:NUE) last released its quarterly earnings results on Thursday, October 19th. The basic materials company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.01. The business had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $5.19 billion. Nucor had a net margin of 5.80% and a return on equity of 12.78%. Nucor’s revenue was up 20.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.88 earnings per share. research analysts anticipate that Nucor Co. will post 3.61 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.35%. This is an increase from Nucor’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, December 28th. Nucor’s dividend payout ratio is presently 43.90%.
In other Nucor news, insider Ladd R. Hall sold 17,583 shares of the stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $57.94, for a total transaction of $1,018,759.02. Following the sale, the insider now directly owns 206,406 shares in the company, valued at $11,959,163.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider D. Chad Utermark sold 9,003 shares of the stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $59.72, for a total transaction of $537,659.16. Following the sale, the insider now owns 73,883 shares in the company, valued at $4,412,292.76. The disclosure for this sale can be found here. Insiders have sold 41,717 shares of company stock worth $2,470,331 over the last quarter. Corporate insiders own 0.70% of the company’s stock.
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Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).
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