OFC Financial Planning LLC Purchases Shares of 7,526 Nucor Corporation $NUE

Key Points

• OFC Financial Planning LLC bought 7,526 Nucor shares worth approximately $1.68 million, making Nucor about 1.5% of its portfolio. Institutional investors collectively own 76.48% of the company.
• Nucor exceeded quarterly expectations, reporting $4.84 in adjusted earnings per share versus the $4.46 consensus and $10.40 billion in revenue, up 23% year over year.
• Insiders sold 18,528 shares worth approximately $4.79 million during the quarter, while Nucor maintained a $0.56 quarterly dividend, equivalent to a 0.8% yield.

OFC Financial Planning LLC purchased a new position in shares of Nucor Corporation (NYSE:NUE - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,526 shares of the basic materials company's stock, valued at approximately $1,676,000. Nucor makes up about 1.5% of OFC Financial Planning LLC's portfolio, making the stock its 14th biggest holding.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Bell Investment Advisors Inc bought a new position in Nucor during the second quarter worth about $28,000. Strive Financial Group LLC acquired a new stake in shares of Nucor in the fourth quarter valued at approximately $27,000. Stance Capital LLC acquired a new stake in shares of Nucor in the third quarter valued at approximately $25,000. Bartlett & CO. Wealth Management LLC boosted its stake in shares of Nucor by 49.2% during the 1st 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 during the period. Finally, Mcguire Capital Advisors Inc. acquired a new position in shares of Nucor during the 4th quarter worth approximately $32,000. 76.48% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP John J. Hollatz sold 10,560 shares of Nucor stock in a transaction on 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 transaction, 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. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Thomas J. Batterbee sold 4,000 shares of the business's 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 transaction, the executive vice president directly owned 16,138 shares of the company's stock, valued at $4,212,340.76. This trade represents a 19.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 18,528 shares of company stock worth $4,793,035. Company insiders own 0.62% of the company's stock.

Nucor Stock Performance

Shares of NYSE:NUE opened at $264.74 on Wednesday. Nucor Corporation has a 12-month low of $131.32 and a 12-month high of $280.11. The company's 50 day moving average price is $247.76 and its two-hundred day moving average price is $215.68. The firm has a market cap of $60.06 billion, a PE ratio of 21.11, a PEG ratio of 0.60 and a beta of 1.89. The company has a quick ratio of 1.36, a current ratio of 2.51 and a debt-to-equity ratio of 0.27.

Nucor (NYSE:NUE - Get Free Report) 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. The company had revenue of $10.40 billion during the quarter, compared to the consensus estimate of $10.15 billion. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The firm's quarterly revenue was up 23.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.60 earnings per share. Equities research analysts predict that Nucor Corporation will post 17.95 earnings per share for the current year.

Nucor Dividend Announcement

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

Analyst Upgrades and Downgrades

NUE has been the subject of several research reports. Zacks Research downgraded Nucor from a "strong-buy" rating to a "hold" rating in a report on Monday, June 29th. Barclays raised their target price on shares of Nucor from $272.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 29th. BNP Paribas Exane increased their price target on shares of Nucor from $210.00 to $248.00 and gave the company an "outperform" rating in a report on Monday, May 4th. Bank of America cut their price objective on shares of Nucor from $290.00 to $280.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Finally, Citigroup reaffirmed a "buy" rating on shares of Nucor in a research report on Wednesday, July 29th. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $273.31.

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.

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