Nucor Co. (NYSE:NUE) Shares Sold by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp reduced its position in shares of Nucor Co. (NYSE:NUE) by 16.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,284 shares of the basic materials company’s stock after selling 3,470 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Nucor were worth $2,134,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Norges Bank purchased a new position in Nucor during the 4th quarter valued at about $398,077,000. First Trust Advisors LP lifted its position in shares of Nucor by 24.6% during the fourth quarter. First Trust Advisors LP now owns 2,404,477 shares of the basic materials company’s stock worth $280,627,000 after purchasing an additional 474,274 shares in the last quarter. Voya Investment Management LLC boosted its stake in shares of Nucor by 528.6% in the fourth quarter. Voya Investment Management LLC now owns 507,715 shares of the basic materials company’s stock valued at $59,235,000 after purchasing an additional 426,949 shares during the period. Invesco Ltd. grew its holdings in shares of Nucor by 18.7% in the fourth quarter. Invesco Ltd. now owns 2,435,265 shares of the basic materials company’s stock valued at $284,220,000 after purchasing an additional 384,205 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Nucor during the 4th quarter worth approximately $38,714,000. 76.48% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Nucor

In other Nucor news, CEO Leon J. Topalian sold 34,238 shares of the company’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $120.19, for a total value of $4,115,065.22. Following the completion of the transaction, the chief executive officer now owns 162,993 shares in the company, valued at $19,590,128.67. This represents a 17.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.46% of the company’s stock.

Nucor Trading Down 1.5%

NYSE:NUE opened at $117.13 on Thursday. Nucor Co. has a 1 year low of $97.59 and a 1 year high of $176.59. The stock has a market cap of $27.00 billion, a P/E ratio of 13.93, a P/E/G ratio of 0.96 and a beta of 1.73. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51. The stock has a 50-day simple moving average of $118.20 and a 200-day simple moving average of $129.03.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, April 28th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15). The business had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.25 billion. Nucor had a net margin of 6.60% and a return on equity of 9.85%. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period last year, the company earned $3.46 earnings per share. As a group, analysts anticipate that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 12th. Stockholders of record on Monday, March 31st were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend was Monday, March 31st. Nucor’s payout ratio is 39.15%.

Analysts Set New Price Targets

NUE has been the subject of several recent research reports. StockNews.com cut shares of Nucor from a “hold” rating to a “sell” rating in a research report on Wednesday, April 30th. Argus set a $155.00 target price on Nucor in a report on Wednesday, March 5th. The Goldman Sachs Group cut their price target on Nucor from $175.00 to $169.00 and set a “buy” rating on the stock in a report on Monday, April 7th. JPMorgan Chase & Co. reduced their price target on Nucor from $156.00 to $140.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Finally, UBS Group raised Nucor from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $156.00 to $160.00 in a research report on Monday, March 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $160.33.

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.