California Public Employees Retirement System Buys 38,937 Shares of Nucor Co. (NUE)
California Public Employees Retirement System raised its stake in shares of Nucor Co. (NYSE:NUE) by 5.8% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 704,698 shares of the basic materials company’s stock after buying an additional 38,937 shares during the period. California Public Employees Retirement System owned about 0.22% of Nucor worth $39,491,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Mckinley Capital Management LLC Delaware purchased a new position in shares of Nucor in the 2nd quarter valued at about $100,000. Krilogy Financial LLC increased its stake in shares of Nucor by 4,594.6% in the 2nd quarter. Krilogy Financial LLC now owns 1,737 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 1,700 shares in the last quarter. Fiduciary Trust Co. purchased a new position in shares of Nucor in the 2nd quarter valued at about $109,000. Sun Life Financial INC increased its stake in shares of Nucor by 23,290.0% in the 2nd quarter. Sun Life Financial INC now owns 2,339 shares of the basic materials company’s stock valued at $135,000 after purchasing an additional 2,329 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its stake in shares of Nucor by 791.0% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 2,673 shares of the basic materials company’s stock valued at $150,000 after purchasing an additional 2,373 shares in the last quarter. Institutional investors and hedge funds own 74.55% of the company’s stock.
Shares of Nucor Co. (NYSE:NUE) opened at $60.11 on Friday. The stock has a market capitalization of $18,928.76, a P/E ratio of 17.51, a price-to-earnings-growth ratio of 1.35 and a beta of 1.58. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.11 and a quick ratio of 1.12. Nucor Co. has a 12-month low of $51.67 and a 12-month high of $66.00.
Nucor (NYSE:NUE) last announced its earnings results on Thursday, October 19th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. The company had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.19 billion. Nucor had a return on equity of 12.78% and a net margin of 5.80%. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.88 earnings per share. equities research analysts expect that Nucor Co. will post 3.69 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, December 29th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.53%. This is a positive change from Nucor’s previous quarterly dividend of $0.38. Nucor’s dividend payout ratio is currently 43.90%.
Several equities research analysts recently issued reports on the company. Credit Suisse Group lowered their price objective on Nucor from $68.00 to $63.00 and set a “buy” rating on the stock in a report on Thursday, September 28th. Bank of America lowered their price objective on Nucor from $73.00 to $71.00 and set a “buy” rating on the stock in a report on Friday, October 20th. ValuEngine upgraded Nucor from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Longbow Research cut Nucor from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $55.01 to $56.04 in a report on Monday, October 2nd. Finally, Jefferies Group set a $68.00 target price on Nucor and gave the stock a “buy” rating in a report on Monday, August 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $66.80.
In other news, Chairman John J. Ferriola sold 15,131 shares of the company’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $60.40, for a total transaction of $913,912.40. Following the sale, the chairman now owns 349,506 shares of the company’s stock, valued at $21,110,162.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ladd R. Hall sold 17,583 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $57.94, for a total transaction of $1,018,759.02. Following the transaction, the insider now owns 206,406 shares of the company’s stock, valued at approximately $11,959,163.64. The disclosure for this sale can be found here. Insiders have sold 44,217 shares of company stock worth $2,608,231 in the last ninety days. Corporate insiders own 0.70% of the company’s stock.
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Nucor Company Profile
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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