California Public Employees Retirement System decreased its position in Nucor Co. (NYSE:NUE – Free Report) by 6.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 494,841 shares of the basic materials company’s stock after selling 32,665 shares during the quarter. California Public Employees Retirement System’s holdings in Nucor were worth $81,144,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of NUE. Lincoln Capital LLC lifted its position in Nucor by 3.1% in the second quarter. Lincoln Capital LLC now owns 2,085 shares of the basic materials company’s stock valued at $342,000 after purchasing an additional 62 shares during the last quarter. Global Retirement Partners LLC increased its stake in shares of Nucor by 2.4% during the second quarter. Global Retirement Partners LLC now owns 2,698 shares of the basic materials company’s stock valued at $442,000 after buying an additional 64 shares during the period. Forza Wealth Management LLC increased its stake in shares of Nucor by 1.0% during the second quarter. Forza Wealth Management LLC now owns 6,781 shares of the basic materials company’s stock valued at $1,112,000 after buying an additional 65 shares during the period. Planned Solutions Inc. increased its stake in shares of Nucor by 2.9% during the second quarter. Planned Solutions Inc. now owns 2,468 shares of the basic materials company’s stock valued at $405,000 after buying an additional 70 shares during the period. Finally, SeaCrest Wealth Management LLC increased its stake in shares of Nucor by 2.0% during 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. Institutional investors own 77.76% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on NUE shares. Citigroup boosted their target price on Nucor from $160.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, July 27th. Morgan Stanley reduced their target price on Nucor from $162.00 to $154.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 31st. StockNews.com assumed coverage on Nucor in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. raised Nucor from an “underweight” rating to a “neutral” rating and set a $151.00 price target on the stock in a research note on Monday, October 16th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Nucor presently has an average rating of “Hold” and a consensus target price of $164.56.
Nucor Price Performance
Shares of NYSE:NUE opened at $154.99 on Wednesday. Nucor Co. has a 1-year low of $129.46 and a 1-year high of $182.68. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.72 and a quick ratio of 2.50. The business has a fifty day moving average price of $153.56 and a 200-day moving average price of $155.63. The company has a market capitalization of $38.10 billion, a PE ratio of 7.86 and a beta of 1.64.
Nucor (NYSE:NUE – Get Free Report) last released its quarterly earnings data on Tuesday, October 24th. The basic materials company reported $4.57 EPS for the quarter, beating the consensus estimate of $4.19 by $0.38. Nucor had a return on equity of 24.38% and a net margin of 13.98%. The company had revenue of $8.78 billion for the quarter, compared to analysts’ expectations of $8.37 billion. During the same period last year, the firm posted $6.50 earnings per share. Nucor’s revenue was down 16.4% compared to the same quarter last year. As a group, equities analysts expect that Nucor Co. will post 17.82 EPS for the current fiscal year.
Nucor Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Investors of record on Friday, September 29th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $2.04 annualized dividend and a dividend yield of 1.32%. Nucor’s dividend payout ratio (DPR) is presently 10.34%.
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.
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