Canada Pension Plan Investment Board Purchases Shares of 209,339 Nucor Corporation $NUE

Canada Pension Plan Investment Board acquired a new stake in shares of Nucor Corporation (NYSE:NUE) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 209,339 shares of the basic materials company’s stock, valued at approximately $46,630,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Manning & Napier Advisors LLC acquired a new stake in Nucor during the 2nd quarter worth approximately $27,000. Bell Investment Advisors Inc purchased a new stake in Nucor during the second quarter worth approximately $28,000. Strive Financial Group LLC purchased a new stake in Nucor during the fourth quarter worth approximately $27,000. Stance Capital LLC acquired a new stake in shares of Nucor in the third quarter worth $25,000. Finally, Bartlett & CO. Wealth Management LLC increased its position in shares of Nucor by 49.2% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 63 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Stephen D. Laxton sold 3,968 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $256.96, for a total value of $1,019,617.28. Following the completion of the transaction, the chief operating officer owned 77,867 shares of the company’s stock, valued at approximately $20,008,704.32. This represents a 4.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP John J. Hollatz sold 10,560 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were 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 of the company’s stock, valued at approximately $25,294,187.90. This trade represents a 9.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 18,528 shares of company stock worth $4,793,035 over the last ninety days. Corporate insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on NUE. Morgan Stanley set a $270.00 target price on shares of Nucor in a report on Wednesday, July 29th. Barclays increased their price target on Nucor from $272.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Seaport Research Partners boosted their price objective on Nucor from $245.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. CICC Research started coverage on Nucor in a research report on Monday, May 25th. They issued an “outperform” rating for the company. Finally, Citigroup reiterated a “buy” rating on shares of Nucor in a research note on Wednesday, July 29th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $272.38.

Nucor Trading Down 0.2%

NYSE NUE opened at $252.19 on Friday. The stock has a market cap of $57.21 billion, a P/E ratio of 20.11, a PEG ratio of 0.94 and a beta of 1.89. The company’s fifty day simple moving average is $246.51 and its 200-day simple moving average is $218.75. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. Nucor Corporation has a 52 week low of $131.32 and a 52 week high of $280.11.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share for the quarter, beating analysts’ consensus estimates of $4.46 by $0.38. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The business had revenue of $10.40 billion during the quarter, compared to analyst estimates of $10.15 billion. During the same period last year, the business earned $2.60 EPS. The business’s revenue was up 23.0% on a year-over-year basis. Equities research analysts predict that Nucor Corporation will post 17.95 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.56 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.24 annualized dividend and a dividend yield of 0.9%. Nucor’s dividend payout ratio (DPR) is currently 17.86%.

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.