Caisse DE Depot ET Placement DU Quebec Has $49.18 Million Stock Position in Nucor Corporation $NUE

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its stake in Nucor Corporation by 301.4% in the first quarter, owning a total of 408,685 shares valued at approximately $49 million.
• Nucor recently announced a quarterly dividend of $0.55 per share, resulting in an annual yield of 1.5% and a payout ratio of 39.71%.
• Analyst ratings for Nucor vary, with seven rated as a "Buy" and one as a "Hold," while price targets range from $134 to $170.

Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Nucor Corporation (NYSE:NUE - Free Report) by 301.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 408,685 shares of the basic materials company's stock after buying an additional 306,867 shares during the period. Caisse DE Depot ET Placement DU Quebec owned approximately 0.18% of Nucor worth $49,181,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in NUE. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Nucor during the 4th quarter valued at approximately $25,000. Freestone Grove Partners LP bought a new stake in shares of Nucor in the 4th quarter worth approximately $683,000. DoubleLine ETF Adviser LP bought a new stake in shares of Nucor in the 4th quarter worth approximately $3,100,000. AXA S.A. lifted its position in shares of Nucor by 106.7% in the 4th quarter. AXA S.A. now owns 22,522 shares of the basic materials company's stock worth $2,629,000 after acquiring an additional 11,628 shares during the period. Finally, Aspire Growth Partners LLC bought a new stake in shares of Nucor in the 4th quarter worth approximately $621,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Nucor news, EVP Daniel R. Needham sold 7,200 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $146.00, for a total value of $1,051,200.00. Following the completion of the sale, the executive vice president owned 92,179 shares in the company, valued at $13,458,134. This trade represents a 7.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Allen C. Behr sold 8,021 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $143.38, for a total value of $1,150,050.98. Following the transaction, the executive vice president directly owned 82,703 shares in the company, valued at approximately $11,857,956.14. This trade represents a 8.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,397 shares of company stock valued at $6,763,814 in the last ninety days. 0.46% of the stock is owned by company insiders.

Nucor Trading Down 0.3%

Nucor stock traded down $0.48 during mid-day trading on Thursday, hitting $149.85. 1,082,897 shares of the company's stock were exchanged, compared to its average volume of 1,329,783. Nucor Corporation has a fifty-two week low of $97.59 and a fifty-two week high of $170.52. The company has a quick ratio of 1.51, a current ratio of 2.83 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $34.40 billion, a P/E ratio of 27.05, a PEG ratio of 0.96 and a beta of 1.74. The company's 50 day simple moving average is $140.21 and its 200-day simple moving average is $127.90.

Nucor (NYSE:NUE - Get Free Report) last announced its earnings results on Monday, July 28th. The basic materials company reported $2.60 earnings per share for the quarter, topping analysts' consensus estimates of $2.54 by $0.06. The firm had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.47 billion. Nucor had a net margin of 4.21% and a return on equity of 6.65%. The company's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.68 EPS. On average, equities analysts anticipate that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, June 30th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.20 annualized dividend and a yield of 1.5%. Nucor's dividend payout ratio is 39.71%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Wall Street Zen downgraded Nucor from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. Wells Fargo & Company raised Nucor to a "hold" rating in a report on Thursday, August 14th. UBS Group dropped their target price on Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a report on Thursday, May 29th. BMO Capital Markets raised Nucor from a "market perform" rating to an "outperform" rating and raised their price target for the company from $140.00 to $145.00 in a report on Monday, June 2nd. Finally, JPMorgan Chase & Co. increased their price target on shares of Nucor from $143.00 to $162.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $155.78.

Nucor Company Profile

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.