Nucor Co. (NYSE:NUE) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board reduced its position in Nucor Co. (NYSE:NUE - Free Report) by 50.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,474 shares of the basic materials company's stock after selling 12,585 shares during the period. Ontario Teachers Pension Plan Board's holdings in Nucor were worth $1,875,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NUE. Commerce Bank increased its position in Nucor by 4.9% during the third quarter. Commerce Bank now owns 16,344 shares of the basic materials company's stock valued at $2,457,000 after acquiring an additional 758 shares during the last quarter. Prospera Private Wealth LLC bought a new position in shares of Nucor during the 3rd quarter valued at approximately $1,980,000. Counterweight Ventures LLC raised its position in shares of Nucor by 19.6% during the 3rd quarter. Counterweight Ventures LLC now owns 14,121 shares of the basic materials company's stock valued at $2,123,000 after purchasing an additional 2,312 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Nucor during the third quarter valued at about $1,481,000. Finally, Fifth Third Wealth Advisors LLC lifted its holdings in Nucor by 12.6% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 4,069 shares of the basic materials company's stock worth $612,000 after purchasing an additional 456 shares in the last quarter. 76.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. BMO Capital Markets reduced their price objective 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. Argus upgraded Nucor to a "strong-buy" rating in a report on Monday, August 26th. Morgan Stanley decreased 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, JPMorgan Chase & Co. cut their price objective on shares of Nucor from $170.00 to $168.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $190.57.

Insider Activity at Nucor

In other Nucor news, EVP Allen C. Behr sold 4,968 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $159.72, for a total transaction of $793,488.96. Following the sale, the executive vice president now directly owns 85,376 shares of the company's stock, valued at $13,636,254.72. This trade represents a 5.50 % decrease in their position. 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 Nucor stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the completion of the transaction, the executive vice president now owns 98,770 shares in the company, valued at approximately $14,499,436. This trade represents a 8.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,680 shares of company stock valued at $4,773,724 over the last ninety days. Insiders own 0.46% of the company's stock.

Nucor Stock Performance

NUE stock traded up $3.49 during trading on Wednesday, hitting $148.17. 2,055,018 shares of the company traded hands, compared to its average volume of 1,553,963. The company has a market cap of $34.79 billion, a PE ratio of 14.32 and a beta of 1.55. The stock's 50-day simple moving average is $149.11 and its 200 day simple moving average is $154.40. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00.

Nucor (NYSE:NUE - Get Free Report) last issued its earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.40 by $0.09. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The company had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.28 billion. During the same period in the previous year, the firm earned $4.57 earnings per share. Nucor's quarterly revenue was down 15.2% compared to the same quarter last year. On average, equities analysts expect that Nucor Co. will post 8.52 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.46%. Nucor's dividend payout ratio (DPR) is currently 20.87%.

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.