35,707 Shares in Nucor Corporation $NUE Bought by Oppenheimer Asset Management Inc.

Key Points

• Oppenheimer Asset Management acquired 35,707 Nucor shares worth approximately $7.95 million, while institutional investors and hedge funds collectively own 76.48% of the company.
• Analysts maintain a “Moderate Buy” consensus, with 12 Buy ratings and four Holds and an average price target of $273.31.
• Nucor exceeded quarterly earnings expectations, reporting $4.84 in EPS and $10.40 billion in revenue, up 23% year over year; it also maintains a quarterly dividend of $0.56 per share.

Oppenheimer Asset Management Inc. acquired a new stake in Nucor Corporation (NYSE:NUE - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 35,707 shares of the basic materials company's stock, valued at approximately $7,954,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. RKL Wealth Management LLC lifted its holdings in shares of Nucor by 0.9% in the first quarter. RKL Wealth Management LLC now owns 5,318 shares of the basic materials company's stock valued at $899,000 after purchasing an additional 48 shares in the last quarter. Focus Financial Network Inc. grew its holdings in shares of Nucor by 3.6% during the second quarter. Focus Financial Network Inc. now owns 1,417 shares of the basic materials company's stock worth $316,000 after buying an additional 49 shares in the last quarter. Empirical Asset Management LLC raised its position in Nucor by 2.6% in the 4th quarter. Empirical Asset Management LLC now owns 2,130 shares of the basic materials company's stock valued at $347,000 after buying an additional 54 shares during the last quarter. Krilogy Financial LLC lifted its stake in Nucor by 4.1% in the 4th quarter. Krilogy Financial LLC now owns 1,531 shares of the basic materials company's stock valued at $272,000 after acquiring an additional 61 shares in the last quarter. Finally, Moody National Bank Trust Division boosted its position in Nucor by 4.6% during the 2nd quarter. Moody National Bank Trust Division now owns 1,396 shares of the basic materials company's stock worth $311,000 after acquiring an additional 62 shares during the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Bank of America lowered their price objective on shares of Nucor from $290.00 to $280.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Zacks Research lowered shares of Nucor from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 29th. BMO Capital Markets boosted their price target on shares of Nucor from $285.00 to $295.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 29th. The Goldman Sachs Group boosted their price target on shares of Nucor from $260.00 to $284.00 and gave the stock a "buy" rating in a research report on Tuesday, June 16th. Finally, Wells Fargo & Company raised their price objective on Nucor from $283.00 to $297.00 and gave the company an "overweight" rating in a report on Wednesday, July 29th. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $273.31.

Nucor Trading Down 1.5%

Nucor stock opened at $268.11 on Friday. Nucor Corporation has a 52 week low of $131.32 and a 52 week high of $280.11. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51. The stock has a market capitalization of $60.83 billion, a P/E ratio of 21.38, a PEG ratio of 0.61 and a beta of 1.89. The stock has a 50-day simple moving average of $247.15 and a 200 day simple moving average of $214.08.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share for the quarter, topping analysts' consensus estimates of $4.46 by $0.38. The firm had revenue of $10.40 billion for the quarter, compared to the consensus estimate of $10.15 billion. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The business's revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.60 earnings per share. Analysts expect that Nucor Corporation will post 17.95 earnings per share for the current year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.8%. Nucor's payout ratio is presently 17.86%.

Insiders Place Their Bets

In related news, EVP Thomas J. Batterbee sold 4,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $261.02, for a total value of $1,044,080.00. Following the sale, the executive vice president owned 16,138 shares in the company, valued at approximately $4,212,340.76. This represents a 19.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John J. Hollatz sold 10,560 shares of the firm's stock in a transaction 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 directly owned 97,865 shares of the company's stock, valued at $25,294,187.90. This represents a 9.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 21,028 shares of company stock worth $5,355,535 in the last quarter. Insiders own 0.62% of the company's stock.

Nucor 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.

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