California State Teachers Retirement System trimmed its position in Nucor Co. (NYSE:NUE – Get Rating) by 2.2% in the third quarter, Holdings Channel reports. The fund owned 439,360 shares of the basic materials company’s stock after selling 9,980 shares during the quarter. California State Teachers Retirement System’s holdings in Nucor were worth $47,007,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of NUE. Guardian Wealth Advisors LLC bought a new position in shares of Nucor in the 3rd quarter valued at $31,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in Nucor during the 1st quarter worth $32,000. Coston McIsaac & Partners bought a new position in Nucor during the 3rd quarter worth $34,000. Cowa LLC bought a new position in Nucor during the 3rd quarter worth $37,000. Finally, CI Investments Inc. raised its position in Nucor by 972.7% during the 3rd quarter. CI Investments Inc. now owns 354 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 321 shares during the last quarter. 78.33% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Nucor
In other Nucor news, EVP Kenneth Rex Query sold 1,962 shares of Nucor stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $177.99, for a total transaction of $349,216.38. Following the completion of the transaction, the executive vice president now owns 74,138 shares in the company, valued at approximately $13,195,822.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Nucor news, EVP Allen C. Behr sold 2,613 shares of Nucor stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $168.00, for a total transaction of $438,984.00. Following the transaction, the executive vice president now owns 57,121 shares of the company’s stock, valued at approximately $9,596,328. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kenneth Rex Query sold 1,962 shares of Nucor stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $177.99, for a total transaction of $349,216.38. Following the transaction, the executive vice president now directly owns 74,138 shares in the company, valued at approximately $13,195,822.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,575 shares of company stock worth $2,034,130. Insiders own 0.46% of the company’s stock.
Nucor Stock Performance
Nucor (NYSE:NUE – Get Rating) last issued its earnings results on Thursday, January 26th. The basic materials company reported $4.89 EPS for the quarter, beating the consensus estimate of $4.18 by $0.71. The company had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $8.54 billion. Nucor had a return on equity of 42.03% and a net margin of 18.33%. The firm’s revenue for the quarter was down 15.8% compared to the same quarter last year. During the same period last year, the business posted $7.97 EPS. On average, equities research analysts predict that Nucor Co. will post 14.35 EPS for the current fiscal year.
Nucor Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 11th. Shareholders of record on Friday, March 31st will be paid a dividend of $0.51 per share. The ex-dividend date is Thursday, March 30th. This represents a $2.04 dividend on an annualized basis and a yield of 1.42%. Nucor’s dividend payout ratio (DPR) is currently 7.10%.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on the company. UBS Group raised their target price on Nucor from $120.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 6th. The Goldman Sachs Group increased their price target on Nucor from $144.00 to $161.00 and gave the stock a “neutral” rating in a report on Friday, March 10th. StockNews.com began coverage on Nucor in a report on Thursday. They set a “hold” rating for the company. Morgan Stanley increased their price target on Nucor from $113.00 to $122.00 and gave the stock an “equal weight” rating in a report on Monday, January 30th. Finally, BMO Capital Markets increased their price target on Nucor from $155.00 to $165.00 and gave the stock a “market perform” rating in a report on Friday, January 27th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Nucor presently has a consensus rating of “Hold” and a consensus target price of $153.44.
Nucor Company Profile
Nucor Corp. engages in the manufacturing of steel and steel products. It operates through the following segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment consists of carbon and alloy steel in sheet, bars, structural and plate, steel trading businesses, rebar distribution businesses, and Nucor’s equity method investments.
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