116,000 Shares in Nucor Corporation $NUE Bought by Strs Ohio

Key Points

• Strs Ohio has acquired a new stake in Nucor Corporation, purchasing 116,000 shares valued at approximately $13.96 million.
• Several institutional investors, including MV Capital Management and Geneos Wealth Management, have significantly increased their positions in Nucor recently, reflecting a growing interest in the company.
• Nucor announced a quarterly dividend of $0.55 per share, with an upcoming payment date set for November 10th, which results in an annualized dividend yield of 1.6%.

Strs Ohio bought a new stake in shares of Nucor Corporation (NYSE:NUE - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 116,000 shares of the basic materials company's stock, valued at approximately $13,959,000. Strs Ohio owned about 0.05% of Nucor at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Putney Financial Group LLC acquired a new stake in Nucor during the fourth quarter worth about $29,000. MV Capital Management Inc. grew its holdings in shares of Nucor by 73.5% during the first quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company's stock valued at $34,000 after purchasing an additional 119 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of Nucor by 81.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company's stock worth $41,000 after purchasing an additional 153 shares during the period. Fourth Dimension Wealth LLC acquired a new position in Nucor during the 4th quarter valued at approximately $41,000. Finally, Spirit of America Management Corp NY acquired a new position in Nucor during the 1st quarter valued at approximately $48,000. 76.48% of the stock is currently owned by institutional investors.

Nucor Price Performance

Shares of NUE stock traded up $0.13 during midday trading on Monday, reaching $141.48. 1,547,958 shares of the company were exchanged, compared to its average volume of 1,216,555. The company's 50 day moving average price is $143.19 and its two-hundred day moving average price is $128.40. The company has a market cap of $32.48 billion, a P/E ratio of 25.54, a PEG ratio of 0.89 and a beta of 1.76. Nucor Corporation has a 12 month low of $97.59 and a 12 month high of $170.52. 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 (NYSE:NUE - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The basic materials company reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.06. Nucor had a net margin of 4.21% and a return on equity of 6.65%. The business had revenue of $8.46 billion during the quarter, compared to analysts' expectations of $8.47 billion. During the same period last year, the firm posted $2.68 earnings per share. The business's revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts expect that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be issued a $0.55 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.20 annualized dividend and a dividend yield of 1.6%. Nucor's dividend payout ratio is 39.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wells Fargo & Company raised their target price on Nucor from $145.00 to $146.00 and gave the company an "equal weight" rating in a research note on Monday. Bank of America lifted their price objective on shares of Nucor from $150.00 to $165.00 and gave the company a "buy" rating in a research report on Monday. UBS Group reduced their target price on shares of Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Jefferies Financial Group upgraded shares of Nucor from a "hold" rating to a "buy" rating and raised their price target for the company from $135.00 to $170.00 in a research note on Thursday, July 31st. Finally, JPMorgan Chase & Co. lifted their price target on Nucor from $143.00 to $162.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $156.80.

Insider Transactions at Nucor

In other news, EVP Kenneth Rex Query sold 10,000 shares of Nucor stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $130.37, for a total value of $1,303,700.00. Following the transaction, the executive vice president owned 94,080 shares of the company's stock, valued at $12,265,209.60. The trade was a 9.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Daniel R. Needham sold 7,200 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $146.00, for a total transaction 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. The trade was a 7.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,397 shares of company stock worth $6,763,814. Corporate insiders own 0.71% of the company's stock.

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.