Teacher Retirement System of Texas decreased its position in Nucor (NYSE:NUE) by 37.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,602 shares of the basic materials company’s stock after selling 60,213 shares during the period. Teacher Retirement System of Texas’ holdings in Nucor were worth $6,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of the stock. Independence Bank of Kentucky purchased a new position in shares of Nucor during the 4th quarter valued at about $100,000. Jacobi Capital Management LLC raised its stake in shares of Nucor by 166.7% during the 1st quarter. Jacobi Capital Management LLC now owns 1,664 shares of the basic materials company’s stock valued at $100,000 after buying an additional 1,040 shares during the last quarter. Barrett Asset Management LLC purchased a new position in shares of Nucor during the 4th quarter valued at about $101,000. Signaturefd LLC purchased a new position in shares of Nucor during the 1st quarter valued at about $106,000. Finally, Cerebellum GP LLC purchased a new position in shares of Nucor during the 4th quarter valued at about $131,000. Institutional investors own 78.50% of the company’s stock.Get Nucor alerts:
Shares of Nucor stock opened at $64.61 on Friday. The company has a quick ratio of 1.18, a current ratio of 2.49 and a debt-to-equity ratio of 0.35. Nucor has a twelve month low of $51.67 and a twelve month high of $70.48. The stock has a market capitalization of $20.43 billion, a P/E ratio of 18.41, a price-to-earnings-growth ratio of 0.91 and a beta of 1.55.
Nucor (NYSE:NUE) last announced its quarterly earnings results on Thursday, April 19th. The basic materials company reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.07. Nucor had a return on equity of 12.94% and a net margin of 6.33%. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.50 billion. During the same quarter in the previous year, the business earned $1.13 EPS. Nucor’s revenue for the quarter was up 15.6% compared to the same quarter last year. analysts forecast that Nucor will post 5.86 earnings per share for the current fiscal year.
In related news, Director Victoria F. Haynes sold 3,000 shares of Nucor stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $69.12, for a total value of $207,360.00. Following the completion of the transaction, the director now owns 30,573 shares in the company, valued at approximately $2,113,205.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Victoria F. Haynes sold 1,800 shares of Nucor stock in a transaction dated Tuesday, May 1st. The shares were sold at an average price of $60.91, for a total value of $109,638.00. Following the completion of the transaction, the director now owns 28,773 shares of the company’s stock, valued at approximately $1,752,563.43. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,800 shares of company stock valued at $837,878. 0.70% of the stock is owned by company insiders.
A number of equities analysts have weighed in on NUE shares. Zacks Investment Research lowered Nucor from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. ValuEngine lowered Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, March 20th. Jefferies Group reiterated a “buy” rating and set a $76.00 price objective on shares of Nucor in a research note on Wednesday, January 31st. Morgan Stanley lifted their price objective on Nucor from $68.00 to $73.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 17th. Finally, UBS started coverage on Nucor in a research note on Tuesday, April 17th. They set a “neutral” rating and a $65.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Nucor has a consensus rating of “Buy” and an average target price of $70.40.
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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