State of New Jersey Common Pension Fund D Has $11.13 Million Stock Position in Nucor Corporation $NUE

State of New Jersey Common Pension Fund D lifted its stake in Nucor Corporation (NYSE:NUE) by 5.4% during the 3rd quarter, Holdings Channel reports. The firm owned 82,196 shares of the basic materials company’s stock after acquiring an additional 4,212 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Nucor were worth $11,132,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NUE. PNC Financial Services Group Inc. grew its position in shares of Nucor by 1.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 62,215 shares of the basic materials company’s stock worth $8,426,000 after buying an additional 951 shares during the period. Aberdeen Group plc raised its position in shares of Nucor by 49.4% in the 3rd quarter. Aberdeen Group plc now owns 195,603 shares of the basic materials company’s stock valued at $26,618,000 after acquiring an additional 64,642 shares during the period. Cidel Asset Management Inc. boosted its stake in Nucor by 3.4% during the 3rd quarter. Cidel Asset Management Inc. now owns 4,650 shares of the basic materials company’s stock worth $630,000 after acquiring an additional 152 shares during the last quarter. Balboa Wealth Partners acquired a new position in Nucor during the third quarter valued at approximately $756,000. Finally, IMA Advisory Services Inc. grew its holdings in Nucor by 56.6% during the third quarter. IMA Advisory Services Inc. now owns 346 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 125 shares during the period. Institutional investors own 76.48% of the company’s stock.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Allen C. Behr sold 7,568 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $188.50, for a total transaction of $1,426,568.00. Following the sale, the executive vice president directly owned 67,711 shares of the company’s stock, valued at $12,763,523.50. The trade was a 10.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Thomas J. Batterbee sold 2,000 shares of the stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $165.28, for a total transaction of $330,560.00. Following the transaction, the executive vice president owned 17,952 shares of the company’s stock, valued at approximately $2,967,106.56. This represents a 10.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 34,351 shares of company stock valued at $6,206,158 over the last ninety days. 0.71% of the stock is currently owned by company insiders.

Nucor Price Performance

Shares of NYSE NUE opened at $182.97 on Tuesday. The company has a fifty day moving average price of $172.77 and a 200 day moving average price of $154.31. The firm has a market cap of $41.87 billion, a PE ratio of 24.27, a PEG ratio of 0.66 and a beta of 1.86. The company has a current ratio of 2.94, a quick ratio of 1.57 and a debt-to-equity ratio of 0.31. Nucor Corporation has a 1-year low of $97.59 and a 1-year high of $196.90.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, January 26th. The basic materials company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $1.91 by ($0.18). The firm had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.93 billion. Nucor had a return on equity of 8.26% and a net margin of 5.37%.The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.22 earnings per share. Research analysts predict that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 11th. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $2.24 annualized dividend and a dividend yield of 1.2%. This is an increase from Nucor’s previous quarterly dividend of $0.55. Nucor’s dividend payout ratio (DPR) is 29.71%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NUE shares. BMO Capital Markets reiterated an “outperform” rating on shares of Nucor in a report on Wednesday, October 29th. Weiss Ratings restated a “hold (c)” rating on shares of Nucor in a research report on Monday, December 29th. BNP Paribas Exane lifted their target price on Nucor from $165.00 to $185.00 and gave the stock an “outperform” rating in a report on Friday, January 2nd. Seaport Research Partners boosted their target price on Nucor from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Finally, UBS Group downgraded Nucor from a “buy” rating to a “neutral” rating and set a $183.00 price target for the company. in a report on Wednesday, January 28th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $179.36.

Nucor Company Profile

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.