Public Employees Retirement System of Ohio Has $19.63 Million Holdings in Nucor Co. (NYSE:NUE)

Public Employees Retirement System of Ohio lifted its stake in shares of Nucor Co. (NYSE:NUE) by 9.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 130,555 shares of the basic materials company’s stock after buying an additional 10,781 shares during the period. Public Employees Retirement System of Ohio owned about 0.06% of Nucor worth $19,628,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of NUE. McClarren Financial Advisors Inc. grew its stake in shares of Nucor by 129.0% in the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 89 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Nucor in the third quarter worth $26,000. Coastline Trust Co bought a new stake in shares of Nucor in the third quarter worth $29,000. Brown Lisle Cummings Inc. bought a new stake in Nucor during the third quarter valued at $30,000. Finally, HHM Wealth Advisors LLC boosted its position in Nucor by 769.2% during the second quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 200 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NUE has been the topic of a number of research analyst reports. JPMorgan Chase & Co. cut their price target on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. The Goldman Sachs Group initiated coverage on shares of Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 price target on the stock. BMO Capital Markets cut their price target on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 18th. Argus raised shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Finally, Morgan Stanley cut their price objective on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $190.50.

Insider Buying and Selling

In other Nucor news, EVP Kenneth Rex Query sold 9,000 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the completion of the transaction, the executive vice president now directly owns 98,770 shares of the company’s stock, valued at $14,499,436. This trade represents a 8.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Allen C. Behr sold 4,968 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $159.72, for a total transaction of $793,488.96. Following the completion of the transaction, the executive vice president now directly owns 85,376 shares of the company’s stock, valued at approximately $13,636,254.72. The trade was a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,680 shares of company stock valued at $4,773,724. Company insiders own 0.64% of the company’s stock.

Nucor Trading Down 2.8 %

NUE opened at $140.57 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61. Nucor Co. has a fifty-two week low of $133.42 and a fifty-two week high of $203.00. The firm has a market capitalization of $33.01 billion, a PE ratio of 13.58 and a beta of 1.55. The company’s 50-day moving average is $150.56 and its 200 day moving average is $152.29.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.40 by $0.09. The firm had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The company’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same quarter last year, the business posted $4.57 EPS. As a group, research analysts predict that Nucor Co. will post 8.5 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.54%. The ex-dividend date was Friday, September 27th. Nucor’s dividend payout ratio (DPR) is presently 20.87%.

About Nucor

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The 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 structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.