Public Sector Pension Investment Board Has $1.44 Million Stock Holdings in Nucor Co. (NYSE:NUE)

Public Sector Pension Investment Board grew its stake in Nucor Co. (NYSE:NUE) by 64.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,100 shares of the basic materials company’s stock after purchasing an additional 3,574 shares during the quarter. Public Sector Pension Investment Board’s holdings in Nucor were worth $1,439,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. lifted its stake in Nucor by 29.7% in the second quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock valued at $456,030,000 after buying an additional 660,866 shares during the period. Global Assets Advisory LLC acquired a new position in Nucor in the 1st quarter worth $90,216,000. Swedbank AB bought a new position in Nucor during the 1st quarter worth about $37,395,000. Captrust Financial Advisors raised its stake in shares of Nucor by 23.5% in the 1st quarter. Captrust Financial Advisors now owns 804,150 shares of the basic materials company’s stock valued at $159,141,000 after purchasing an additional 153,077 shares during the period. Finally, Trinity Street Asset Management LLP bought a new stake in shares of Nucor in the second quarter valued at about $19,213,000. 76.48% of the stock is currently owned by institutional investors.

Nucor Trading Up 0.1 %

NUE stock opened at $150.35 on Tuesday. Nucor Co. has a one year low of $133.42 and a one year high of $203.00. The stock has a market cap of $36.05 billion, a price-to-earnings ratio of 8.84 and a beta of 1.55. The company has a fifty day moving average price of $147.88 and a two-hundred day moving average price of $164.42. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85.

Nucor (NYSE:NUE) last announced its earnings results on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, topping the consensus estimate of $2.31 by $0.37. The business had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $7.69 billion. Nucor had a net margin of 10.45% and a return on equity of 15.69%. Nucor’s revenue was down 15.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.81 EPS. Equities analysts anticipate that Nucor Co. will post 9.28 EPS for the current year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.54 per share. The ex-dividend date is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.44%. Nucor’s dividend payout ratio (DPR) is currently 12.71%.

Insider Buying and Selling

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total value of $1,379,840.00. Following the transaction, the executive vice president now directly owns 99,049 shares of the company’s stock, valued at approximately $15,847,840. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.46% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NUE has been the subject of a number of research reports. JPMorgan Chase & Co. upgraded Nucor from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $170.00 to $174.00 in a report on Monday, September 9th. Bank of America decreased their price target on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. BMO Capital Markets lowered their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday, September 18th. Morgan Stanley reduced their target price on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. Finally, Argus upgraded shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $192.00.

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.