California State Teachers Retirement System raised its position in Nucor Co. (NYSE:NUE) by 7.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 594,568 shares of the basic materials company’s stock after purchasing an additional 40,531 shares during the period. California State Teachers Retirement System owned about 0.19% of Nucor worth $37,803,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Marathon Trading Investment Management LLC acquired a new position in shares of Nucor during the 4th quarter valued at about $375,000. Stone Ridge Asset Management LLC acquired a new position in shares of Nucor during the 4th quarter valued at about $1,115,000. Encompass Capital Advisors LLC acquired a new position in shares of Nucor during the 4th quarter valued at about $12,398,000. Guggenheim Capital LLC increased its stake in shares of Nucor by 24.8% during the 4th quarter. Guggenheim Capital LLC now owns 1,118,852 shares of the basic materials company’s stock valued at $71,136,000 after acquiring an additional 222,246 shares during the last quarter. Finally, Virtue Capital Management LLC acquired a new position in shares of Nucor during the 4th quarter valued at about $705,000. Institutional investors own 80.08% of the company’s stock.
NUE has been the subject of a number of research analyst reports. ValuEngine raised shares of Nucor from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Longbow Research raised shares of Nucor from a “neutral” rating to a “buy” rating in a research report on Wednesday, December 20th. Bank of America set a $75.00 target price on shares of Nucor and gave the stock a “buy” rating in a research report on Monday, January 8th. Jefferies Group reissued a “buy” rating and set a $76.00 target price on shares of Nucor in a research report on Wednesday, January 31st. Finally, Goldman Sachs started coverage on shares of Nucor in a research report on Tuesday, March 20th. They set a “buy” rating and a $78.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $69.54.
Shares of Nucor stock traded down $2.41 on Friday, hitting $60.69. 1,899,102 shares of the company’s stock traded hands, compared to its average volume of 2,382,658. The stock has a market cap of $20,061.81, a P/E ratio of 17.29, a price-to-earnings-growth ratio of 0.99 and a beta of 1.54. The company has a current ratio of 2.42, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36. Nucor Co. has a 52-week low of $51.67 and a 52-week high of $70.48.
Nucor (NYSE:NUE) last announced its quarterly earnings data on Tuesday, January 30th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.10. Nucor had a return on equity of 13.03% and a net margin of 6.58%. The firm had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $4.86 billion. During the same period last year, the business posted $0.50 earnings per share. The firm’s revenue for the quarter was up 28.7% on a year-over-year basis. equities analysts predict that Nucor Co. will post 5.32 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 11th. Investors of record on Thursday, March 29th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.50%. The ex-dividend date is Wednesday, March 28th. Nucor’s dividend payout ratio (DPR) is presently 43.30%.
In other Nucor news, Chairman John J. Ferriola sold 14,313 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $64.12, for a total value of $917,749.56. Following the sale, the chairman now directly owns 333,775 shares in the company, valued at $21,401,653. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James D. Frias sold 39,037 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $68.31, for a total value of $2,666,617.47. Following the completion of the sale, the chief financial officer now owns 177,204 shares in the company, valued at $12,104,805.24. The disclosure for this sale can be found here. Insiders have sold 64,350 shares of company stock worth $4,312,607 over the last 90 days. 0.70% of the stock is currently owned by company insiders.
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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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