State of New Jersey Common Pension Fund D Has $11.13 Million Holdings in Nucor Corporation $NUE

State of New Jersey Common Pension Fund D grew its holdings in Nucor Corporation (NYSE:NUE) by 5.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,196 shares of the basic materials company’s stock after acquiring an additional 4,212 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Nucor were worth $11,132,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of NUE. IMA Advisory Services Inc. boosted its holdings in Nucor by 51.4% in the 2nd quarter. IMA Advisory Services Inc. now owns 221 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 75 shares during the period. AXS Investments LLC acquired a new position in shares of Nucor during the third quarter valued at about $37,000. Vision Financial Markets LLC lifted its stake in shares of Nucor by 281.7% in the third quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock valued at $37,000 after buying an additional 200 shares during the period. Elevation Point Wealth Partners LLC bought a new stake in shares of Nucor in the second quarter valued at about $39,000. Finally, Geneos Wealth Management Inc. grew its position in Nucor by 81.8% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock worth $41,000 after buying an additional 153 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Insider Activity at Nucor

In other news, EVP Allen C. Behr sold 7,568 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $188.50, for a total transaction of $1,426,568.00. Following the transaction, the executive vice president directly owned 67,711 shares in the company, valued at approximately $12,763,523.50. This represents a 10.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kenneth Rex Query sold 7,452 shares of Nucor stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $196.02, for a total value of $1,460,741.04. Following the completion of the sale, the executive vice president directly owned 76,628 shares of the company’s stock, valued at $15,020,620.56. This trade represents a 8.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 34,351 shares of company stock worth $6,206,158. 0.71% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on the company. Morgan Stanley reiterated an “equal weight” rating and issued a $180.00 price objective (up previously from $165.00) on shares of Nucor in a research report on Friday, January 9th. BMO Capital Markets restated an “outperform” rating on shares of Nucor in a research note on Wednesday, October 29th. Wall Street Zen upgraded shares of Nucor from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Jefferies Financial Group boosted their price target on shares of Nucor from $190.00 to $200.00 and gave the company a “buy” rating in a report on Monday, January 12th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Nucor from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, December 5th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $179.36.

Nucor Stock Performance

NYSE NUE opened at $182.97 on Tuesday. Nucor Corporation has a 1-year low of $97.59 and a 1-year high of $196.90. The company has a 50 day moving average of $172.77 and a 200-day moving average of $154.31. The company has a current ratio of 2.94, a quick ratio of 1.57 and a debt-to-equity ratio of 0.31. The firm has a market cap of $41.87 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 0.66 and a beta of 1.86.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, January 26th. The basic materials company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.18). Nucor had a return on equity of 8.26% and a net margin of 5.37%.The business had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter last year, the company earned $1.22 earnings per share. The firm’s revenue was up 8.6% on a year-over-year basis. On average, equities analysts forecast that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, December 31st were given a dividend of $0.56 per share. This is a positive change from Nucor’s previous quarterly dividend of $0.55. The ex-dividend date was Wednesday, December 31st. This represents a $2.24 annualized dividend and a yield of 1.2%. Nucor’s dividend payout ratio is currently 29.71%.

Nucor Company Profile

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.