4,178 Nucor Corporation $NUE Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its holdings in shares of Nucor Corporation (NYSE:NUE) by 18.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,493 shares of the basic materials company’s stock after purchasing an additional 4,178 shares during the period. State of Alaska Department of Revenue’s holdings in Nucor were worth $6,191,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of NUE. Transamerica Financial Advisors LLC bought a new position in Nucor during the 2nd quarter worth $25,000. Manning & Napier Advisors LLC acquired a new position in Nucor during the 2nd quarter worth about $27,000. Bell Investment Advisors Inc bought a new stake in shares of Nucor in the 2nd quarter valued at about $28,000. GK Wealth Management LLC bought a new stake in shares of Nucor in the 3rd quarter valued at about $28,000. Finally, Markowski Investments bought a new stake in shares of Nucor in the 2nd quarter valued at about $29,000. Institutional investors own 76.48% of the company’s stock.

Nucor Trading Up 0.6%

Nucor stock traded up $1.63 during trading hours on Friday, reaching $256.32. 1,121,855 shares of the company’s stock were exchanged, compared to its average volume of 1,303,832. The company has a quick ratio of 1.36, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The firm’s 50 day simple moving average is $253.71 and its 200 day simple moving average is $238.02. Nucor Corporation has a twelve month low of $131.32 and a twelve month high of $280.11. The firm has a market capitalization of $58.15 billion, a PE ratio of 20.44, a PEG ratio of 0.63 and a beta of 1.84.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.46 by $0.38. Nucor had a return on equity of 12.73% and a net margin of 7.99%. The company had revenue of $10.40 billion for the quarter, compared to the consensus estimate of $10.15 billion. During the same period in the previous year, the business earned $2.60 EPS. The firm’s revenue was up 23.0% compared to the same quarter last year. Research analysts predict that Nucor Corporation will post 19.62 earnings per share for the current year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 10th. Shareholders of record on Wednesday, September 30th will be paid a $0.56 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.24 annualized dividend and a yield of 0.9%. Nucor’s payout ratio is 17.86%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NUE shares. Citigroup restated a “buy” rating on shares of Nucor in a research report on Wednesday, July 29th. Bank of America reduced their target price on Nucor from $290.00 to $280.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Weiss Ratings raised shares of Nucor from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday. UBS Group increased their target price on shares of Nucor from $224.00 to $256.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. Finally, Barclays raised their price target on shares of Nucor from $272.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $276.07.

Insider Buying and Selling

In other news, COO Stephen D. Laxton sold 3,968 shares of Nucor stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total value of $1,019,617.28. Following the completion of the sale, the chief operating officer owned 77,867 shares in the company, valued at $20,008,704.32. The trade was a 4.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Thomas J. Batterbee sold 4,000 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the transaction, the executive vice president owned 16,138 shares in the company, valued at $4,212,340.76. The trade was a 19.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.62% of the stock is currently owned by corporate insiders.

About Nucor

Nucor Corporation is a Charlotte, North Carolina-based steel producer and one of the largest steel companies in North America. The company operates electric arc furnace (EAF) steel mills that use recycled scrap steel as a primary raw material, along with facilities that manufacture and process steel products for construction, manufacturing, transportation, energy and other industrial markets.

Nucor’s product portfolio includes carbon and alloy steel in sheet, plate, bar and structural forms, as well as reinforcing steel, wire and wire mesh.