Teacher Retirement System of Texas increased its holdings in shares of Nucor Co. (NYSE:NUE) by 24.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 470,507 shares of the basic materials company’s stock after purchasing an additional 93,008 shares during the period. Teacher Retirement System of Texas’ holdings in Nucor were worth $27,454,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Pinnacle Bank bought a new position in Nucor during the fourth quarter worth about $26,000. Lindbrook Capital LLC bought a new stake in shares of Nucor during the fourth quarter worth approximately $27,000. Ropes Wealth Advisors LLC bought a new stake in shares of Nucor during the first quarter worth approximately $34,000. Laurel Wealth Advisors LLC bought a new stake in shares of Nucor during the fourth quarter worth approximately $38,000. Finally, Capital Investment Advisory Services LLC bought a new stake in shares of Nucor during the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 79.15% of the company’s stock.
Shares of NYSE:NUE opened at $54.43 on Wednesday. Nucor Co. has a 12-month low of $49.79 and a 12-month high of $68.84. The company has a market cap of $16.67 billion, a PE ratio of 7.14, a PEG ratio of 0.79 and a beta of 1.46. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.37 and a quick ratio of 1.64.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, March 29th were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.94%. Nucor’s payout ratio is 21.00%.
In other news, Chairman John J. Ferriola sold 65,061 shares of Nucor stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $56.20, for a total value of $3,656,428.20. Following the completion of the sale, the chairman now directly owns 403,735 shares in the company, valued at $22,689,907. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Raymond S. Napolitan, Jr. sold 10,000 shares of Nucor stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $58.28, for a total transaction of $582,800.00. Following the completion of the sale, the insider now owns 96,778 shares of the company’s stock, valued at $5,640,221.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,314 shares of company stock valued at $4,310,637. 0.96% of the stock is owned by company insiders.
A number of brokerages have recently issued reports on NUE. UBS Group set a $59.00 price objective on Nucor and gave the stock a “hold” rating in a report on Wednesday, May 8th. Zacks Investment Research cut Nucor from a “hold” rating to a “strong sell” rating in a report on Friday, February 1st. ValuEngine upgraded Nucor from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Longbow Research cut Nucor from a “buy” rating to a “neutral” rating in a report on Monday, March 11th. Finally, Standpoint Research upgraded Nucor from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $70.56.
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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