National Pension Service Boosts Holdings in Nucor Co. (NUE)

National Pension Service raised its stake in Nucor Co. (NYSE:NUE) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 352,162 shares of the basic materials company’s stock after buying an additional 8,256 shares during the period. National Pension Service owned approximately 0.11% of Nucor worth $22,390,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Security National Bank of Sioux City Iowa IA increased its holdings in shares of Nucor by 0.4% in the second quarter. Security National Bank of Sioux City Iowa IA now owns 21,597 shares of the basic materials company’s stock valued at $1,249,000 after buying an additional 77 shares in the last quarter. Hillsdale Investment Management Inc. increased its holdings in shares of Nucor by 2.4% in the second quarter. Hillsdale Investment Management Inc. now owns 5,530 shares of the basic materials company’s stock valued at $320,000 after buying an additional 130 shares in the last quarter. Veritable L.P. increased its holdings in shares of Nucor by 2.0% in the second quarter. Veritable L.P. now owns 9,600 shares of the basic materials company’s stock valued at $556,000 after buying an additional 191 shares in the last quarter. Thrivent Financial For Lutherans increased its holdings in shares of Nucor by 1.6% in the second quarter. Thrivent Financial For Lutherans now owns 12,170 shares of the basic materials company’s stock valued at $704,000 after buying an additional 195 shares in the last quarter. Finally, Sentry Investment Management LLC increased its holdings in shares of Nucor by 1.3% in the second quarter. Sentry Investment Management LLC now owns 20,879 shares of the basic materials company’s stock valued at $1,208,000 after buying an additional 260 shares in the last quarter. 74.34% of the stock is currently owned by institutional investors.

Nucor Co. (NYSE NUE) opened at $68.72 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 2.11. Nucor Co. has a fifty-two week low of $51.67 and a fifty-two week high of $70.48. The company has a market cap of $21,850.00, a price-to-earnings ratio of 19.14, a PEG ratio of 1.17 and a beta of 1.58.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Thursday, October 19th. The basic materials company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.78 by $0.01. Nucor had a net margin of 5.80% and a return on equity of 12.78%. The business had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same period in the previous year, the company posted $0.88 EPS. Nucor’s revenue was up 20.5% on a year-over-year basis. sell-side analysts predict that Nucor Co. will post 3.5 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.38 per share. This is a boost from Nucor’s previous quarterly dividend of $0.38. This represents a $1.52 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Thursday, December 28th. Nucor’s payout ratio is currently 42.34%.

In related news, Chairman John J. Ferriola sold 15,131 shares of Nucor stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $60.40, for a total value of $913,912.40. Following the completion of the sale, the chairman now owns 349,506 shares of the company’s stock, valued at approximately $21,110,162.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Robert J. Stratman sold 39,037 shares of Nucor stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $63.88, for a total transaction of $2,493,683.56. Following the completion of the sale, the executive vice president now directly owns 233,824 shares of the company’s stock, valued at approximately $14,936,677.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 80,754 shares of company stock worth $4,964,014. 0.70% of the stock is currently owned by corporate insiders.

NUE has been the topic of several research analyst reports. Credit Suisse Group lowered their price objective on shares of Nucor from $68.00 to $63.00 and set a “buy” rating on the stock in a research report on Thursday, September 28th. Jefferies Group reiterated a “buy” rating and set a $77.00 price objective on shares of Nucor in a research report on Tuesday, January 9th. Bank of America lowered their price objective on shares of Nucor from $73.00 to $71.00 and set a “buy” rating on the stock in a research report on Friday, October 20th. Longbow Research cut shares of Nucor from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $55.01 to $56.04 in a research report on Monday, October 2nd. Finally, Zacks Investment Research cut shares of Nucor from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $68.37.

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About Nucor

Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).

Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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