Nucor Co. (NYSE:NUE) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its holdings in Nucor Co. (NYSE:NUE - Free Report) by 7.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 120,859 shares of the basic materials company's stock after selling 9,696 shares during the period. Public Employees Retirement System of Ohio owned 0.05% of Nucor worth $14,105,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Nucor in the 4th quarter valued at approximately $398,077,000. First Trust Advisors LP boosted its holdings in shares of Nucor by 24.6% during the 4th quarter. First Trust Advisors LP now owns 2,404,477 shares of the basic materials company's stock valued at $280,627,000 after acquiring an additional 474,274 shares in the last quarter. Voya Investment Management LLC grew its position in Nucor by 528.6% during the 4th quarter. Voya Investment Management LLC now owns 507,715 shares of the basic materials company's stock worth $59,235,000 after acquiring an additional 426,949 shares during the last quarter. Invesco Ltd. raised its position in Nucor by 18.7% in the fourth quarter. Invesco Ltd. now owns 2,435,265 shares of the basic materials company's stock valued at $284,220,000 after purchasing an additional 384,205 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Nucor in the fourth quarter worth $38,714,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Price Performance

NUE stock traded down $1.03 during trading on Friday, hitting $107.91. 832,364 shares of the company's stock traded hands, compared to its average volume of 2,134,243. Nucor Co. has a 52 week low of $97.59 and a 52 week high of $170.52. The stock has a market capitalization of $24.90 billion, a price-to-earnings ratio of 12.82, a P/E/G ratio of 0.96 and a beta of 1.73. The business has a fifty day simple moving average of $114.38 and a 200 day simple moving average of $126.07. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51.

Nucor (NYSE:NUE - Get Free Report) last posted its earnings results on Monday, April 28th. The basic materials company reported $0.77 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.15). The business had revenue of $7.83 billion for the quarter, compared to analysts' expectations of $7.25 billion. Nucor had a net margin of 6.60% and a return on equity of 9.85%. The company's revenue for the quarter was down 3.8% on a year-over-year basis. During the same period last year, the business posted $3.46 EPS. As a group, research analysts expect that Nucor Co. will post 7.64 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on NUE shares. UBS Group cut their price target on Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a report on Thursday. Wall Street Zen cut Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. cut their price target on Nucor from $156.00 to $140.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Argus set a $155.00 price target on shares of Nucor in a report on Wednesday, March 5th. Finally, Morgan Stanley set a $164.00 price target on shares of Nucor in a report on Monday, March 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Nucor presently has an average rating of "Moderate Buy" and an average price target of $158.89.

Insider Activity at Nucor

In other Nucor news, CEO Leon J. Topalian sold 34,238 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $120.19, for a total value of $4,115,065.22. Following the completion of the transaction, the chief executive officer now owns 162,993 shares of the company's stock, valued at approximately $19,590,128.67. This trade represents a 17.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

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.