Canada Pension Plan Investment Board Sells 3,563 Shares of Nucor Co. (NYSE:NUE)

Canada Pension Plan Investment Board trimmed its holdings in Nucor Co. (NYSE:NUEFree Report) by 1.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 228,906 shares of the basic materials company’s stock after selling 3,563 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.09% of Nucor worth $35,789,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of NUE. Householder Group Estate & Retirement Specialist LLC bought a new stake in Nucor in the 3rd quarter valued at $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in shares of Nucor in the first quarter worth about $32,000. VisionPoint Advisory Group LLC purchased a new stake in shares of Nucor in the second quarter worth about $39,000. Chilton Capital Management LLC boosted its stake in Nucor by 260.9% during the second quarter. Chilton Capital Management LLC now owns 249 shares of the basic materials company’s stock valued at $41,000 after buying an additional 180 shares during the last quarter. Finally, OFI Invest Asset Management bought a new stake in Nucor in the 3rd quarter worth approximately $40,000. Hedge funds and other institutional investors own 77.76% of the company’s stock.

Insider Transactions at Nucor

In related news, EVP Kenneth Rex Query sold 5,500 shares of Nucor stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the completion of the sale, the executive vice president now owns 85,326 shares in the company, valued at approximately $15,902,206.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Nucor news, EVP Kenneth Rex Query sold 5,500 shares of Nucor stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the completion of the sale, the executive vice president now directly owns 85,326 shares of the company’s stock, valued at approximately $15,902,206.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Douglas J. Jellison sold 11,491 shares of the stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $176.83, for a total value of $2,031,953.53. Following the transaction, the executive vice president now directly owns 127,615 shares in the company, valued at approximately $22,566,160.45. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,330 shares of company stock worth $13,672,548. Insiders own 0.46% of the company’s stock.

Nucor Price Performance

NUE stock opened at $186.54 on Friday. The company has a current ratio of 3.57, a quick ratio of 2.35 and a debt-to-equity ratio of 0.30. Nucor Co. has a 12 month low of $129.79 and a 12 month high of $190.96. The stock has a market cap of $45.86 billion, a PE ratio of 10.37 and a beta of 1.61. The company has a 50-day moving average price of $173.81 and a 200 day moving average price of $164.53.

Nucor (NYSE:NUEGet Free Report) last released its earnings results on Monday, January 29th. The basic materials company reported $3.16 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.33. Nucor had a return on equity of 21.42% and a net margin of 13.03%. The firm had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.64 billion. During the same quarter in the prior year, the firm posted $4.89 earnings per share. The company’s quarterly revenue was down 11.7% on a year-over-year basis. Equities research analysts anticipate that Nucor Co. will post 12.53 earnings per share for the current year.

Nucor Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Friday, December 29th were paid a dividend of $0.54 per share. This is a positive change from Nucor’s previous quarterly dividend of $0.51. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Thursday, December 28th. Nucor’s payout ratio is currently 12.01%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. UBS Group assumed coverage on Nucor in a research report on Tuesday, January 16th. They set a “buy” rating and a $210.00 target price for the company. StockNews.com upgraded shares of Nucor from a “hold” rating to a “buy” rating in a research report on Tuesday, January 30th. JPMorgan Chase & Co. boosted their target price on shares of Nucor from $151.00 to $158.00 and gave the stock a “neutral” rating in a report on Tuesday, December 12th. Finally, Morgan Stanley lowered their price target on shares of Nucor from $162.00 to $154.00 and set an “equal weight” rating for the company in a report on Tuesday, October 31st. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $174.43.

Check Out Our Latest Analysis on NUE

Nucor Company Profile

(Free Report)

Nucor Corporation engages in manufacture and sale of steel and steel products. The company's 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; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products.

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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