Teacher Retirement System of Texas Has $1.63 Million Stake in Nucor Co. (NYSE:NUE)

Teacher Retirement System of Texas raised its position in Nucor Co. (NYSE:NUE - Free Report) by 771.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,999 shares of the basic materials company's stock after purchasing an additional 12,393 shares during the quarter. Teacher Retirement System of Texas' holdings in Nucor were worth $1,634,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in NUE. Widmann Financial Services Inc. increased its position in Nucor by 4.0% in the 3rd quarter. Widmann Financial Services Inc. now owns 1,800 shares of the basic materials company's stock valued at $271,000 after acquiring an additional 70 shares during the period. TCI Wealth Advisors Inc. grew its stake in shares of Nucor by 4.4% in the fourth quarter. TCI Wealth Advisors Inc. now owns 2,157 shares of the basic materials company's stock worth $252,000 after purchasing an additional 91 shares in the last quarter. Jessup Wealth Management Inc increased its holdings in shares of Nucor by 0.9% during the fourth quarter. Jessup Wealth Management Inc now owns 10,528 shares of the basic materials company's stock valued at $1,229,000 after purchasing an additional 93 shares during the period. Redwood Investment Management LLC raised its stake in shares of Nucor by 1.0% during the third quarter. Redwood Investment Management LLC now owns 9,092 shares of the basic materials company's stock valued at $1,365,000 after purchasing an additional 94 shares in the last quarter. Finally, Beacon Capital Management LLC lifted its holdings in Nucor by 29.1% in the fourth quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company's stock worth $49,000 after purchasing an additional 94 shares during the period. Institutional investors and hedge funds own 76.48% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. UBS Group raised shares of Nucor from a "neutral" rating to a "buy" rating and raised their target price for the company from $156.00 to $160.00 in a research note on Monday, March 24th. Citigroup lowered their price objective on shares of Nucor from $240.00 to $160.00 and set a "buy" rating on the stock in a research note on Thursday, December 19th. JPMorgan Chase & Co. lifted their price target on shares of Nucor from $150.00 to $156.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 11th. The Goldman Sachs Group began coverage on shares of Nucor in a research report on Monday, December 2nd. They set a "buy" rating and a $190.00 price objective on the stock. Finally, Jefferies Financial Group increased their target price on Nucor from $125.00 to $135.00 and gave the company a "hold" rating in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $164.44.

Nucor Stock Down 1.2 %

NUE traded down $1.52 during midday trading on Monday, hitting $120.43. 2,700,196 shares of the company's stock traded hands, compared to its average volume of 1,975,298. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48. The company has a market cap of $27.76 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58. The stock's fifty day simple moving average is $130.90 and its 200-day simple moving average is $137.12. Nucor Co. has a one year low of $112.25 and a one year high of $203.00.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.94 by $0.28. Nucor had a net margin of 6.60% and a return on equity of 9.85%. During the same quarter in the prior year, the company posted $3.16 EPS. As a group, equities analysts anticipate that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be given a dividend of $0.55 per share. The ex-dividend date is Monday, March 31st. This represents a $2.20 dividend on an annualized basis and a yield of 1.83%. Nucor's payout ratio is currently 26.16%.

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.