National Pension Service increased its position in Nucor Co. (NYSE:NUE - Free Report) by 3.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 652,502 shares of the basic materials company's stock after purchasing an additional 20,258 shares during the quarter. National Pension Service owned approximately 0.27% of Nucor worth $98,097,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the company. Central Pacific Bank Trust Division acquired a new position in Nucor in the 1st quarter valued at about $28,000. Signaturefd LLC grew its stake in Nucor by 6.5% in the 1st quarter. Signaturefd LLC now owns 6,145 shares of the basic materials company's stock valued at $1,216,000 after buying an additional 376 shares during the last quarter. Team Hewins LLC grew its stake in Nucor by 8.0% in the 1st quarter. Team Hewins LLC now owns 1,839 shares of the basic materials company's stock valued at $365,000 after buying an additional 137 shares during the last quarter. Hemington Wealth Management acquired a new position in Nucor in the 1st quarter valued at about $393,000. Finally, Empirical Finance LLC grew its stake in Nucor by 2.4% in the 1st quarter. Empirical Finance LLC now owns 12,532 shares of the basic materials company's stock valued at $2,480,000 after buying an additional 295 shares during the last quarter. 76.48% of the stock is owned by institutional investors.
A number of research analysts recently commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Nucor from $170.00 to $168.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. BMO Capital Markets decreased their target price 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 upgraded shares of Nucor to a "strong-buy" rating in a research report on Monday, August 26th. Finally, Morgan Stanley decreased their target price 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, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Nucor has an average rating of "Moderate Buy" and a consensus price target of $190.57.
Read Our Latest Analysis on NUE
In related news, EVP Kenneth Rex Query sold 9,000 shares of the stock in a transaction that occurred 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 owns 98,770 shares of the company's stock, valued at $14,499,436. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.64% of the stock is owned by insiders.
NYSE NUE opened at $144.61 on Wednesday. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $34.32 billion, a price-to-earnings ratio of 13.97 and a beta of 1.55. The firm's 50 day simple moving average is $147.29 and its 200 day simple moving average is $155.87. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00.
Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.09. The business had revenue of $7.44 billion for 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 firm'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 expect that Nucor Co. will post 8.65 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Friday, September 27th. Nucor's payout ratio is 20.87%.
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.
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