Teacher Retirement System of Texas cut its holdings in Nucor Co. (NYSE:NUE) by 5.9% in the 2nd quarter, Holdings Channel reports. The firm owned 94,698 shares of the basic materials company’s stock after selling 5,904 shares during the period. Teacher Retirement System of Texas’ holdings in Nucor were worth $5,919,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of NUE. Verity Asset Management Inc. grew its holdings in shares of Nucor by 51.0% during the 1st quarter. Verity Asset Management Inc. now owns 7,806 shares of the basic materials company’s stock worth $477,000 after purchasing an additional 2,638 shares during the period. Global X Management Co. LLC boosted its holdings in Nucor by 170.2% in the 1st quarter. Global X Management Co. LLC now owns 46,433 shares of the basic materials company’s stock worth $2,837,000 after acquiring an additional 29,251 shares during the period. HL Financial Services LLC boosted its holdings in Nucor by 10.9% in the 1st quarter. HL Financial Services LLC now owns 12,994 shares of the basic materials company’s stock worth $794,000 after acquiring an additional 1,282 shares during the period. Hennessy Advisors Inc. purchased a new position in Nucor in the 1st quarter worth approximately $2,920,000. Finally, Inverness Counsel LLC NY purchased a new position in Nucor in the 1st quarter worth approximately $1,293,000. 77.98% of the stock is owned by institutional investors and hedge funds.

In other Nucor news, CEO John J. Ferriola sold 14,607 shares of the company’s stock in a transaction that occurred on Tuesday, July 24th. The stock was sold at an average price of $68.25, for a total value of $996,927.75. Following the transaction, the chief executive officer now directly owns 374,542 shares of the company’s stock, valued at approximately $25,562,491.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Leon J. Topalian sold 3,115 shares of the company’s stock in a transaction that occurred on Thursday, June 21st. The shares were sold at an average price of $64.98, for a total value of $202,412.70. Following the completion of the transaction, the insider now directly owns 43,370 shares in the company, valued at $2,818,182.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 122,443 shares of company stock worth $8,277,404. 0.80% of the stock is currently owned by corporate insiders.

A number of equities analysts have weighed in on the company. Zacks Investment Research cut Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, August 14th. KeyCorp upgraded Nucor from a “sector weight” rating to an “overweight” rating and set a $77.00 price target for the company in a report on Tuesday, July 24th. Jefferies Financial Group restated a “buy” rating and issued a $80.00 price target on shares of Nucor in a report on Friday, July 13th. Finally, Macquarie upgraded Nucor from a “neutral” rating to an “outperform” rating and set a $75.00 price target for the company in a report on Thursday, May 17th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $71.16.

NYSE NUE opened at $62.87 on Tuesday. The company has a market capitalization of $19.73 billion, a price-to-earnings ratio of 17.91, a P/E/G ratio of 0.70 and a beta of 1.57. Nucor Co. has a fifty-two week low of $51.67 and a fifty-two week high of $70.48. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.05 and a quick ratio of 1.55.

Nucor (NYSE:NUE) last announced its earnings results on Thursday, July 19th. The basic materials company reported $2.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.10 by ($0.03). Nucor had a net margin of 7.58% and a return on equity of 16.22%. The business had revenue of $6.46 billion during the quarter, compared to analyst estimates of $6.47 billion. During the same period in the previous year, the company earned $1.00 earnings per share. The business’s revenue for the quarter was up 24.9% on a year-over-year basis. sell-side analysts forecast that Nucor Co. will post 7.45 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 10th. Shareholders of record on Friday, June 29th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend was Thursday, June 28th. Nucor’s payout ratio is 43.30%.

Nucor Company Profile

Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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; hollow structural section steel tubing, steel electrical conduit, plate steel, and structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, wire rods, and special bar quality; and tubular and plate steel products.

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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