Ontario Teachers Pension Plan Board Sells 6,988 Shares of Nucor Co. (NYSE:NUE)

Ontario Teachers Pension Plan Board reduced its stake in shares of Nucor Co. (NYSE:NUE) by 18.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,742 shares of the basic materials company’s stock after selling 6,988 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Nucor were worth $4,749,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. SeaCrest Wealth Management LLC lifted its holdings in Nucor by 2.0% in the fourth quarter. SeaCrest Wealth Management LLC now owns 3,645 shares of the basic materials company’s stock valued at $480,000 after buying an additional 71 shares during the period. CGN Advisors LLC lifted its holdings in Nucor by 0.8% in the first quarter. CGN Advisors LLC now owns 9,948 shares of the basic materials company’s stock valued at $1,537,000 after buying an additional 75 shares during the period. Greenleaf Trust lifted its holdings in Nucor by 1.2% in the first quarter. Greenleaf Trust now owns 6,215 shares of the basic materials company’s stock valued at $960,000 after buying an additional 75 shares during the period. Advisors Capital Management LLC lifted its holdings in Nucor by 4.7% in the first quarter. Advisors Capital Management LLC now owns 1,731 shares of the basic materials company’s stock valued at $267,000 after buying an additional 78 shares during the period. Finally, Lindbrook Capital LLC lifted its holdings in Nucor by 9.1% in the first quarter. Lindbrook Capital LLC now owns 955 shares of the basic materials company’s stock valued at $148,000 after buying an additional 80 shares during the period. 77.76% of the stock is owned by institutional investors.

Insider Transactions at Nucor

In other news, EVP Allen C. Behr sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $170.54, for a total transaction of $1,705,400.00. Following the transaction, the executive vice president now directly owns 84,273 shares in the company, valued at approximately $14,371,917.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Nucor news, EVP Allen C. Behr sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $170.54, for a total value of $1,705,400.00. Following the completion of the sale, the executive vice president now owns 84,273 shares of the company’s stock, valued at approximately $14,371,917.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Douglas J. Jellison sold 5,194 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $172.92, for a total transaction of $898,146.48. Following the completion of the sale, the executive vice president now directly owns 139,326 shares of the company’s stock, valued at approximately $24,092,251.92. The disclosure for this sale can be found here. Insiders have sold 62,320 shares of company stock worth $10,584,084 in the last ninety days. Insiders own 0.46% of the company’s stock.

Nucor Stock Down 1.2 %

Shares of NUE stock traded down $1.90 during trading hours on Wednesday, hitting $161.12. 485,015 shares of the company were exchanged, compared to its average volume of 1,595,159. The business has a 50 day moving average of $168.05 and a two-hundred day moving average of $156.10. The company has a current ratio of 3.82, a quick ratio of 2.41 and a debt-to-equity ratio of 0.32. Nucor Co. has a 52 week low of $102.86 and a 52 week high of $182.68. The company has a market capitalization of $40.07 billion, a PE ratio of 7.44 and a beta of 1.61.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, July 24th. The basic materials company reported $5.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.59 by $0.22. Nucor had a net margin of 14.81% and a return on equity of 28.00%. The firm had revenue of $9.52 billion for the quarter, compared to analyst estimates of $9.62 billion. During the same period in the previous year, the business earned $9.67 EPS. The company’s revenue was down 19.3% compared to the same quarter last year. Analysts anticipate that Nucor Co. will post 18.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NUE has been the topic of several analyst reports. StockNews.com upgraded shares of Nucor from a “hold” rating to a “buy” rating in a report on Sunday. Credit Suisse Group increased their target price on shares of Nucor from $156.00 to $167.00 in a report on Tuesday, July 11th. Wolfe Research upgraded shares of Nucor from an “underperform” rating to a “peer perform” rating in a report on Thursday, June 1st. JPMorgan Chase & Co. increased their target price on shares of Nucor from $150.00 to $151.00 and gave the stock an “underweight” rating in a report on Friday, September 8th. Finally, Citigroup increased their target price on shares of Nucor from $160.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $161.00.

About Nucor

Nucor Corporation engages in manufacture and sale of steel and steel products. The company's 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 products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products.