Public Employees Retirement System of Ohio Makes New $23.61 Million Investment in Nucor Corporation $NUE

Key Points

• Public Employees Retirement System of Ohio purchased 105,970 Nucor shares worth approximately $23.61 million in the second quarter. Institutional investors collectively own 76.48% of Nucor.
• Nucor reported quarterly EPS of $4.84, exceeding estimates of $4.46, while revenue rose 23% year over year to $10.40 billion.
• Analysts maintain a generally positive outlook, with 13 Buy ratings and three Holds, an overall “Moderate Buy” rating, and an average price target of $272.38 versus the stock’s reported $250.84 price.

Public Employees Retirement System of Ohio purchased a new stake in shares of Nucor Corporation (NYSE:NUE - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 105,970 shares of the basic materials company's stock, valued at approximately $23,605,000.

Several other institutional investors also recently modified their holdings of NUE. BlackRock Inc. bought a new stake in shares of Nucor in the 2nd quarter valued at about $4,452,563,000. Norges Bank bought a new position in shares of Nucor during the fourth quarter worth about $609,002,000. Bank of America Corp DE bought a new position in shares of Nucor during the second quarter worth about $462,886,000. Berkshire Hathaway Inc acquired a new position in shares of Nucor in the second quarter worth approximately $413,814,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Nucor in the second quarter worth approximately $330,902,000. Institutional investors own 76.48% of the company's stock.

Nucor Trading Down 0.6%

Shares of Nucor stock opened at $250.84 on Friday. The stock has a market capitalization of $56.91 billion, a PE ratio of 20.00, a price-to-earnings-growth ratio of 0.93 and a beta of 1.89. Nucor Corporation has a 52 week low of $131.32 and a 52 week high of $280.11. The stock has a 50 day moving average price of $246.64 and a two-hundred day moving average price of $218.97. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51.

Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.46 by $0.38. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The business had revenue of $10.40 billion during the quarter, compared to the consensus estimate of $10.15 billion. During the same quarter last year, the firm posted $2.60 EPS. Nucor's revenue was up 23.0% compared to the same quarter last year. As a group, equities analysts anticipate that Nucor Corporation will post 17.95 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Nucor's dividend payout ratio is currently 17.86%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NUE shares. Citigroup reissued a "buy" rating on shares of Nucor in a research report on Wednesday, July 29th. Wall Street Zen upgraded shares of Nucor from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 16th. JPMorgan Chase & Co. upped their price objective on shares of Nucor from $240.00 to $282.00 and gave the company an "overweight" rating in a research note on Wednesday, June 10th. CICC Research assumed coverage on shares of Nucor in a research note on Monday, May 25th. They set an "outperform" rating for the company. Finally, Bank of America dropped their target price on shares of Nucor from $290.00 to $280.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Nucor has an average rating of "Moderate Buy" and an average target price of $272.38.

Insider Activity at Nucor

In other news, EVP Thomas J. Batterbee sold 4,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $261.02, for a total value of $1,044,080.00. Following the completion of the sale, the executive vice president directly owned 16,138 shares of the company's stock, valued at $4,212,340.76. This represents a 19.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John J. Hollatz sold 10,560 shares of the firm's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total value of $2,729,337.60. Following the completion of the transaction, the executive vice president owned 97,865 shares in the company, valued at $25,294,187.90. This represents a 9.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 18,528 shares of company stock valued at $4,793,035. 0.62% of the stock is owned by corporate insiders.

Nucor Company Profile

Nucor Corporation NYSE: NUE is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor's operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.

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