Teacher Retirement System of Texas Acquires 20,353 Shares of Nucor Corporation (NYSE:NUE)

Teacher Retirement System of Texas boosted its position in Nucor Corporation (NYSE:NUE - Free Report) by 145.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 34,352 shares of the basic materials company's stock after acquiring an additional 20,353 shares during the period. Teacher Retirement System of Texas' holdings in Nucor were worth $4,134,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NUE. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Nucor during the fourth quarter worth about $25,000. Putney Financial Group LLC purchased a new stake in Nucor in the fourth quarter worth approximately $29,000. MV Capital Management Inc. boosted its stake in Nucor by 73.5% in the first quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company's stock worth $34,000 after buying an additional 119 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new stake in Nucor in the fourth quarter worth approximately $41,000. Finally, Spirit of America Management Corp NY purchased a new stake in Nucor in the first quarter worth approximately $48,000. 76.48% of the stock is currently owned by institutional investors.

Nucor Stock Performance

Shares of NUE stock opened at $137.11 on Tuesday. The stock has a fifty day moving average of $120.99 and a 200 day moving average of $122.69. Nucor Corporation has a 52 week low of $97.59 and a 52 week high of $170.52. The firm has a market capitalization of $31.64 billion, a price-to-earnings ratio of 24.40, a PEG ratio of 0.88 and a beta of 1.70. The company has a quick ratio of 1.48, a current ratio of 2.52 and a debt-to-equity ratio of 0.32.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly 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). Nucor had a return on equity of 6.82% and a net margin of 4.40%. The business had revenue of $7.83 billion during the quarter, compared to analysts' expectations of $7.25 billion. During the same period in the previous year, the business earned $3.46 EPS. The business's revenue was down 3.8% compared to the same quarter last year. As a group, research 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, August 11th. Shareholders of record on Monday, June 30th will be issued a $0.55 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.20 dividend on an annualized basis and a yield of 1.60%. Nucor's dividend payout ratio (DPR) is 39.15%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wall Street Zen lowered Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. The Goldman Sachs Group cut their target price on Nucor from $175.00 to $169.00 and set a "buy" rating for the company in a research note on Monday, April 7th. JPMorgan Chase & Co. lowered their price objective on Nucor from $156.00 to $140.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Morgan Stanley boosted their price objective on Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a research report on Friday, June 20th. Finally, BMO Capital Markets upgraded Nucor from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $140.00 to $145.00 in a research report on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Nucor presently has a consensus rating of "Moderate Buy" and an average target price of $150.00.

Insiders Place Their Bets

In other Nucor news, EVP Daniel R. Needham sold 7,088 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $127.87, for a total value of $906,342.56. Following the completion of the transaction, the executive vice president owned 99,379 shares in the company, valued at approximately $12,707,592.73. This represents a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kenneth Rex Query sold 10,000 shares of the stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $130.37, for a total value of $1,303,700.00. Following the completion of the transaction, the executive vice president owned 94,080 shares of the company's stock, valued at approximately $12,265,209.60. This trade represents a 9.61% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,326 shares of company stock worth $6,325,108. 0.46% 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.

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