Illinois Municipal Retirement Fund Sells 13,421 Shares of Nucor Co. (NYSE:NUE)

Illinois Municipal Retirement Fund decreased its stake in shares of Nucor Co. (NYSE:NUE) by 12.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,313 shares of the basic materials company’s stock after selling 13,421 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Nucor were worth $14,751,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. McClarren Financial Advisors Inc. raised its holdings in shares of Nucor by 129.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 89 shares in the last quarter. Rise Advisors LLC bought a new stake in shares of Nucor in the 1st quarter valued at about $27,000. Chilton Capital Management LLC raised its holdings in shares of Nucor by 94.2% in the 1st quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 65 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Nucor in the 1st quarter valued at about $28,000. Finally, Tompkins Financial Corp raised its holdings in shares of Nucor by 208.0% in the 1st quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 104 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Stock Performance

Shares of NUE stock traded down $0.81 during trading hours on Friday, hitting $138.79. The company’s stock had a trading volume of 1,310,681 shares, compared to its average volume of 1,457,170. The company has a 50 day moving average of $152.27 and a 200 day moving average of $169.39. The stock has a market cap of $33.28 billion, a PE ratio of 8.17 and a beta of 1.55. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26. Nucor Co. has a 12-month low of $137.91 and a 12-month high of $203.00.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, beating the consensus estimate of $2.31 by $0.37. The business had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $7.69 billion. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The business’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same period in the prior year, the firm earned $5.81 EPS. On average, sell-side analysts forecast that Nucor Co. will post 9.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NUE has been the subject of several recent research reports. Morgan Stanley upgraded shares of Nucor from an “equal weight” rating to an “overweight” rating and reduced their price target for the company from $187.00 to $176.00 in a report on Thursday, August 15th. Bank of America cut their price objective on shares of Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. BMO Capital Markets cut their price objective on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a research report on Monday, June 17th. Argus raised shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Nucor from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 16th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $194.43.

Insider Activity at Nucor

In related news, EVP Daniel R. Needham sold 8,624 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $15,847,840. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.46% of the company’s stock.

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.