New York State Teachers Retirement System Raises Stock Holdings in Nucor Corporation $NUE

New York State Teachers Retirement System raised its stake in Nucor Corporation (NYSE:NUE) by 5.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 182,432 shares of the basic materials company’s stock after buying an additional 9,400 shares during the quarter. New York State Teachers Retirement System’s holdings in Nucor were worth $30,849,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. RKL Wealth Management LLC raised its stake in shares of Nucor by 0.9% in the 1st quarter. RKL Wealth Management LLC now owns 5,318 shares of the basic materials company’s stock valued at $899,000 after acquiring an additional 48 shares during the period. Empirical Asset Management LLC lifted its holdings in shares of Nucor by 2.6% in the 4th quarter. Empirical Asset Management LLC now owns 2,130 shares of the basic materials company’s stock worth $347,000 after acquiring an additional 54 shares during the last quarter. Krilogy Financial LLC boosted its position in shares of Nucor by 4.1% during the 4th quarter. Krilogy Financial LLC now owns 1,531 shares of the basic materials company’s stock worth $272,000 after purchasing an additional 61 shares during the period. IHT Wealth Management LLC boosted its position in shares of Nucor by 2.0% during the 4th quarter. IHT Wealth Management LLC now owns 3,306 shares of the basic materials company’s stock worth $539,000 after purchasing an additional 64 shares during the period. Finally, Rosenberg Matthew Hamilton increased its holdings in Nucor by 3.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 2,011 shares of the basic materials company’s stock valued at $328,000 after purchasing an additional 69 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Buying and Selling at Nucor

In related news, EVP Bradley Ford sold 2,240 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $232.13, for a total transaction of $519,971.20. Following the completion of the transaction, the executive vice president directly owned 43,649 shares of the company’s stock, valued at $10,132,242.37. The trade was a 4.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John J. Hollatz sold 10,560 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total value of $2,729,337.60. Following the sale, the executive vice president owned 97,865 shares in the company, valued at approximately $25,294,187.90. This trade represents a 9.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 82,378 shares of company stock valued at $18,963,930. Insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

NUE has been the topic of a number of research analyst reports. Jefferies Financial Group boosted their target price on Nucor from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. The Goldman Sachs Group raised their price target on Nucor from $260.00 to $284.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. KeyCorp raised Nucor from a “sector weight” rating to an “overweight” rating and set a $274.00 price objective for the company in a research note on Wednesday, June 24th. Wall Street Zen upgraded Nucor from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Finally, BMO Capital Markets increased their target price on Nucor from $250.00 to $285.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.92.

Nucor Trading Down 0.1%

Shares of NUE stock opened at $220.61 on Friday. Nucor Corporation has a fifty-two week low of $131.32 and a fifty-two week high of $270.90. The company has a 50 day moving average price of $237.84 and a 200 day moving average price of $196.89. The stock has a market capitalization of $50.24 billion, a P/E ratio of 21.84, a price-to-earnings-growth ratio of 0.50 and a beta of 1.91. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 2.90.

Nucor (NYSE:NUE) last released its earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.41. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The company had revenue of $9.50 billion for the quarter, compared to analyst estimates of $8.88 billion. During the same period in the prior year, the business earned $0.77 EPS. The firm’s quarterly revenue was up 21.3% on a year-over-year basis. Equities research analysts predict that Nucor Corporation will post 17.68 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.0%. Nucor’s dividend payout ratio is currently 22.18%.

About Nucor

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.