California State Teachers Retirement System reduced its position in Nucor Co. (NYSE:NUE) by 7.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 554,037 shares of the basic materials company’s stock after selling 42,584 shares during the quarter. California State Teachers Retirement System owned about 0.17% of Nucor worth $31,048,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BB&T Investment Services Inc. raised its position in shares of Nucor by 45.1% in the 3rd quarter. BB&T Investment Services Inc. now owns 13,442 shares of the basic materials company’s stock worth $751,000 after buying an additional 4,177 shares during the period. Stifel Financial Corp raised its position in shares of Nucor by 120.6% in the 3rd quarter. Stifel Financial Corp now owns 594,283 shares of the basic materials company’s stock worth $33,356,000 after buying an additional 324,926 shares during the period. FDO Partners LLC raised its position in shares of Nucor by 120.4% in the 3rd quarter. FDO Partners LLC now owns 39,980 shares of the basic materials company’s stock worth $2,240,000 after buying an additional 21,837 shares during the period. Tredje AP fonden raised its position in shares of Nucor by 31.3% in the 3rd quarter. Tredje AP fonden now owns 45,876 shares of the basic materials company’s stock worth $2,588,000 after buying an additional 10,948 shares during the period. Finally, Commerzbank Aktiengesellschaft FI raised its position in shares of Nucor by 101.6% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 12,595 shares of the basic materials company’s stock worth $706,000 after buying an additional 6,347 shares during the period. 74.55% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Victoria F. Haynes sold 2,500 shares of Nucor stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $55.16, for a total transaction of $137,900.00. Following the sale, the director now directly owns 33,573 shares of the company’s stock, valued at $1,851,886.68. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Ladd R. Hall sold 17,583 shares of Nucor stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $57.94, for a total value of $1,018,759.02. Following the sale, the insider now directly owns 206,406 shares in the company, valued at $11,959,163.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,217 shares of company stock worth $2,608,231. Corporate insiders own 0.70% of the company’s stock.

Several brokerages recently weighed in on NUE. ValuEngine raised Nucor from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. BMO Capital Markets set a $62.00 price objective on Nucor and gave the company a “hold” rating in a research report on Friday, November 17th. Zacks Investment Research raised Nucor from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Cowen raised their price objective on Nucor from $57.00 to $63.00 and gave the company a “market perform” rating in a research report on Monday, October 23rd. Finally, Bank of America cut their price objective on Nucor from $73.00 to $71.00 and set a “buy” rating on the stock in a research report on Friday, October 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. Nucor has an average rating of “Buy” and a consensus price target of $66.80.

Nucor Co. (NUE) opened at $60.11 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.11 and a quick ratio of 1.12. Nucor Co. has a 52-week low of $51.67 and a 52-week high of $66.00. The company has a market capitalization of $19,105.22, a PE ratio of 17.67, a price-to-earnings-growth ratio of 1.36 and a beta of 1.58.

Nucor (NYSE:NUE) last released its quarterly earnings data 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 return on equity of 12.78% and a net margin of 5.80%. The company had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same period last year, the company posted $0.88 earnings per share. The firm’s revenue was up 20.5% compared to the same quarter last year. equities research analysts anticipate that Nucor Co. will post 3.67 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, December 29th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.53%. This is a positive change from Nucor’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, December 28th. Nucor’s payout ratio is presently 43.90%.

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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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