Elo Mutual Pension Insurance Co Has $3.32 Million Stock Holdings in Nucor Co. (NYSE:NUE)

Elo Mutual Pension Insurance Co trimmed its holdings in shares of Nucor Co. (NYSE:NUE) by 6.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,007 shares of the basic materials company’s stock after selling 1,456 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Nucor were worth $3,321,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in Nucor by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,909,388 shares of the basic materials company’s stock valued at $617,915,000 after buying an additional 84,558 shares during the period. First Trust Advisors LP lifted its stake in shares of Nucor by 6.7% in the 4th quarter. First Trust Advisors LP now owns 1,367,209 shares of the basic materials company’s stock valued at $237,949,000 after purchasing an additional 85,475 shares during the last quarter. Nordea Investment Management AB grew its holdings in Nucor by 6.5% during the first quarter. Nordea Investment Management AB now owns 1,165,094 shares of the basic materials company’s stock valued at $230,572,000 after purchasing an additional 70,917 shares during the last quarter. Captrust Financial Advisors raised its position in shares of Nucor by 23.5% in the first quarter. Captrust Financial Advisors now owns 804,150 shares of the basic materials company’s stock valued at $159,141,000 after purchasing an additional 153,077 shares during the period. Finally, AustralianSuper Pty Ltd lifted its stake in shares of Nucor by 5.7% in the second quarter. AustralianSuper Pty Ltd now owns 738,327 shares of the basic materials company’s stock worth $116,715,000 after buying an additional 40,050 shares during the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Stock Performance

NYSE NUE opened at $148.98 on Friday. Nucor Co. has a 1-year low of $133.42 and a 1-year high of $203.00. The company has a 50 day moving average of $149.95 and a 200-day moving average of $166.43. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26. The firm has a market cap of $35.72 billion, a price-to-earnings ratio of 8.76 and a beta of 1.55.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.37. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The business had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $7.69 billion. During the same period in the previous year, the business posted $5.81 earnings per share. The firm’s revenue for the quarter was down 15.2% compared to the same quarter last year. On average, equities analysts forecast that Nucor Co. will post 9.95 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.54 per share. The ex-dividend date is Friday, September 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.45%. Nucor’s dividend payout ratio (DPR) is currently 12.71%.

Insider Activity at Nucor

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the transaction, the executive vice president now owns 99,049 shares of the company’s stock, valued at approximately $15,847,840. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.46% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently weighed in on NUE shares. Morgan Stanley decreased their target price on Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday. Bank of America lowered their price target on shares of Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. JPMorgan Chase & Co. upgraded shares of Nucor from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $170.00 to $174.00 in a research note on Monday, September 9th. BMO Capital Markets lowered their target price on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research note on Wednesday. Finally, Argus raised shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $192.00.

Nucor Profile

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.