Nucor Co. (NYSE:NUE) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its stake in shares of Nucor Co. (NYSE:NUE - Free Report) by 7.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 236,289 shares of the basic materials company's stock after selling 19,257 shares during the period. New York State Teachers Retirement System owned approximately 0.10% of Nucor worth $35,524,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in NUE. 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 buying an additional 660,866 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Nucor by 14,525.9% during the third quarter. International Assets Investment Management LLC now owns 326,889 shares of the basic materials company's stock worth $49,144,000 after purchasing an additional 324,654 shares in the last quarter. Swedbank AB purchased a new position in shares of Nucor in the first quarter valued at approximately $37,395,000. Captrust Financial Advisors grew its holdings in shares of Nucor by 23.5% in the first quarter. Captrust Financial Advisors now owns 804,150 shares of the basic materials company's stock valued at $159,141,000 after purchasing an additional 153,077 shares in the last quarter. Finally, Trinity Street Asset Management LLP purchased a new stake in Nucor during the 2nd quarter worth approximately $19,213,000. Institutional investors and hedge funds own 76.48% of the company's stock.

Insider Activity at Nucor

In other Nucor news, EVP Kenneth Rex Query sold 9,000 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president now owns 98,770 shares in the company, valued at approximately $14,499,436. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.46% of the company's stock.

Wall Street Analysts Forecast Growth

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

Nucor Stock Up 1.2 %

Shares of NYSE NUE traded up $1.72 during midday trading on Friday, hitting $143.56. 1,101,777 shares of the company's stock were exchanged, compared to its average volume of 1,507,146. The firm's fifty day simple moving average is $147.64 and its 200-day simple moving average is $157.39. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61. The company has a market cap of $34.07 billion, a PE ratio of 13.70 and a beta of 1.55. Nucor Co. has a twelve month low of $133.42 and a twelve month high of $203.00.

Nucor (NYSE:NUE - Get Free Report) last issued its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.09. Nucor had a net margin of 8.05% and a return on equity of 12.06%. 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 previous year, the firm earned $4.57 EPS. The company's revenue was down 15.2% compared to the same quarter last year. Research analysts predict that Nucor Co. will post 8.65 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Friday, September 27th. Nucor's payout ratio is currently 20.87%.

Nucor Company 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.