Ensign Peak Advisors Inc Has $15.17 Million Holdings in Nucor Co. (NYSE:NUE)

Ensign Peak Advisors Inc lessened its holdings in Nucor Co. (NYSE:NUE) by 5.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 95,969 shares of the basic materials company’s stock after selling 5,890 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Nucor were worth $15,171,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NUE. Ameritas Investment Partners Inc. increased its holdings in Nucor by 6.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 18,827 shares of the basic materials company’s stock worth $2,976,000 after purchasing an additional 1,059 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Nucor by 10.4% during the second quarter. Thrivent Financial for Lutherans now owns 1,020,618 shares of the basic materials company’s stock worth $161,340,000 after purchasing an additional 95,870 shares during the period. Sei Investments Co. grew its stake in shares of Nucor by 91.4% in the second quarter. Sei Investments Co. now owns 55,770 shares of the basic materials company’s stock worth $8,816,000 after purchasing an additional 26,638 shares during the last quarter. Pacer Advisors Inc. raised its position in Nucor by 29.7% during the 2nd quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock worth $456,030,000 after purchasing an additional 660,866 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in Nucor by 3.4% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 534,393 shares of the basic materials company’s stock worth $84,477,000 after buying an additional 17,523 shares during the period. Institutional investors own 76.48% of the company’s stock.

Nucor Stock Up 0.5 %

NUE opened at $147.00 on Tuesday. The stock has a market cap of $35.25 billion, a PE ratio of 8.65 and a beta of 1.55. The company has a quick ratio of 1.85, a current ratio of 2.93 and a debt-to-equity ratio of 0.26. Nucor Co. has a 52 week low of $133.42 and a 52 week high of $203.00. The business’s fifty day simple moving average is $149.30 and its 200 day simple moving average is $165.61.

Nucor (NYSE:NUE) last released its quarterly earnings data 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 net margin of 10.45% and a return on equity of 15.69%. The firm had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $7.69 billion. During the same quarter in the previous year, the company earned $5.81 earnings per share. The company’s revenue for the quarter was down 15.2% compared to the same quarter last year. As a group, research analysts expect that Nucor Co. will post 9.95 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.47%. The ex-dividend date is Friday, September 27th. Nucor’s payout ratio is currently 12.71%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NUE. Argus raised shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Morgan Stanley lowered their target price on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, September 18th. BMO Capital Markets cut their price target on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 18th. Bank of America cut their target price on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. upgraded Nucor from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $170.00 to $174.00 in a report on Monday, September 9th. 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $192.00.

Insider Activity

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of Nucor stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total value of $1,379,840.00. Following the completion of the transaction, the executive vice president now directly owns 99,049 shares of the company’s stock, valued at $15,847,840. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.46% of the company’s stock.

About Nucor

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.