Nucor Corporation $NUE Shares Bought by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp raised its stake in Nucor Corporation by 16.7%, acquiring a total of 21,331 shares worth approximately $2.57 million in the 1st quarter.
• Several hedge funds made significant investments in Nucor, with Diamond Hill Capital Management purchasing a stake valued at $194.8 million and Vanguard increasing its holdings to nearly $3.48 billion.
• Nucor has announced a quarterly dividend of $0.55 per share, translating to an annual yield of 1.5%, and reported a 4.7% year-over-year revenue increase to $8.46 billion for the last quarter.

OMERS ADMINISTRATION Corp boosted its stake in Nucor Corporation (NYSE:NUE - Free Report) by 16.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,331 shares of the basic materials company's stock after buying an additional 3,047 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Nucor were worth $2,567,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Diamond Hill Capital Management Inc. purchased a new position in Nucor in the 1st quarter worth approximately $194,804,000. Nuveen LLC purchased a new stake in shares of Nucor in the first quarter valued at about $141,216,000. Vanguard Group Inc. increased its position in Nucor by 2.6% during the first quarter. Vanguard Group Inc. now owns 28,959,327 shares of the basic materials company's stock worth $3,484,965,000 after purchasing an additional 745,671 shares during the last quarter. GAMMA Investing LLC raised its stake in Nucor by 17,785.0% during the first quarter. GAMMA Investing LLC now owns 505,789 shares of the basic materials company's stock worth $60,867,000 after purchasing an additional 502,961 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Nucor by 18.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,309,452 shares of the basic materials company's stock valued at $277,920,000 after purchasing an additional 355,364 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on NUE shares. Jefferies Financial Group raised Nucor from a "hold" rating to a "buy" rating and upped their price target for the company from $135.00 to $170.00 in a research note on Thursday, July 31st. Morgan Stanley upped their target price on shares of Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a research report on Friday, June 20th. JPMorgan Chase & Co. increased their target price on shares of Nucor from $143.00 to $162.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. UBS Group reduced their price target on shares of Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. Finally, BMO Capital Markets raised Nucor from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $140.00 to $145.00 in a research note on Monday, June 2nd. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $155.78.

Nucor Stock Down 1.3%

NUE stock traded down $1.85 during midday trading on Wednesday, reaching $144.56. 736,066 shares of the company were exchanged, compared to its average volume of 2,389,859. The company has a market cap of $33.18 billion, a price-to-earnings ratio of 26.09, a price-to-earnings-growth ratio of 0.95 and a beta of 1.76. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 2.83. Nucor Corporation has a 1-year low of $97.59 and a 1-year high of $170.52. The stock's 50-day simple moving average is $141.52 and its 200 day simple moving average is $128.08.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The basic materials company reported $2.60 EPS for the quarter, topping the consensus estimate of $2.54 by $0.06. The firm had revenue of $8.46 billion for 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%. Nucor's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the business earned $2.68 EPS. On average, equities analysts forecast that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Announces Dividend

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

Insiders Place Their Bets

In other Nucor news, EVP Daniel R. Needham sold 7,200 shares of the stock in a transaction dated 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 transaction, the executive vice president directly owned 92,179 shares of the company's stock, valued at approximately $13,458,134. This trade represents a 7.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Kenneth Rex Query sold 10,000 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $144.90, for a total value of $1,449,000.00. Following the sale, the executive vice president directly owned 84,080 shares in the company, valued at $12,183,192. This trade represents a 10.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,397 shares of company stock valued at $6,763,814 over the last 90 days. 0.71% of the stock is owned by corporate insiders.

Nucor 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.