Oppenheimer & Co. Inc. Has $2.01 Million Stake in Nucor Corporation (NYSE:NUE)

Oppenheimer & Co. Inc. raised its holdings in shares of Nucor Corporation (NYSE:NUE - Free Report) by 17.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 16,673 shares of the basic materials company's stock after acquiring an additional 2,505 shares during the period. Oppenheimer & Co. Inc.'s holdings in Nucor were worth $2,006,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in NUE. Bank of New York Mellon Corp raised its position in shares of Nucor by 6.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,679,176 shares of the basic materials company's stock valued at $195,977,000 after acquiring an additional 104,238 shares during the last quarter. Lake Street Advisors Group LLC raised its position in shares of Nucor by 8.8% during the 4th quarter. Lake Street Advisors Group LLC now owns 1,851 shares of the basic materials company's stock valued at $217,000 after acquiring an additional 150 shares during the last quarter. Bryn Mawr Capital Management LLC raised its position in shares of Nucor by 2.2% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 9,240 shares of the basic materials company's stock valued at $1,078,000 after acquiring an additional 198 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its position in shares of Nucor by 3.9% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 42,981 shares of the basic materials company's stock valued at $5,016,000 after acquiring an additional 1,600 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of Nucor during the 4th quarter valued at $15,452,000. Institutional investors own 76.48% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NUE. Morgan Stanley boosted their price target on shares of Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a report on Friday, June 20th. The Goldman Sachs Group reduced their price objective on shares of Nucor from $175.00 to $169.00 and set a "buy" rating for the company in a research note on Monday, April 7th. BMO Capital Markets upgraded shares of Nucor from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $140.00 to $145.00 in a research note on Monday, June 2nd. Argus set a $155.00 price objective on shares of Nucor in a research note on Wednesday, March 5th. Finally, UBS Group reduced their price objective on shares of Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $150.00.

Nucor Stock Performance

NYSE:NUE traded up $1.14 during mid-day trading on Friday, hitting $131.75. The stock had a trading volume of 2,860,212 shares, compared to its average volume of 2,231,595. Nucor Corporation has a twelve month low of $97.59 and a twelve month high of $170.52. The stock has a market cap of $30.40 billion, a price-to-earnings ratio of 23.44, a PEG ratio of 0.83 and a beta of 1.67. The company's 50 day simple moving average is $117.76 and its 200 day simple moving average is $122.25. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.48 and a current ratio of 2.52.

Nucor (NYSE:NUE - Get Free Report) last issued its earnings results on Monday, April 28th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.15). Nucor had a net margin of 4.40% and a return on equity of 6.82%. The firm had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.25 billion. During the same quarter last year, the business posted $3.46 earnings per share. The company's revenue for the quarter was down 3.8% on a year-over-year basis. On average, equities research analysts forecast that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Monday, June 30th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.20 annualized dividend and a yield of 1.67%. Nucor's dividend payout ratio is currently 39.15%.

Insider Buying and Selling at Nucor

In other Nucor news, CEO Leon J. Topalian sold 34,238 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $120.19, for a total value of $4,115,065.22. Following the transaction, the chief executive officer now directly owns 162,993 shares of the company's stock, valued at $19,590,128.67. This represents a 17.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Daniel R. Needham sold 7,088 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $127.87, for a total transaction of $906,342.56. Following the completion of the transaction, the executive vice president now directly owns 99,379 shares in the company, valued at approximately $12,707,592.73. This represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.46% of the company's stock.

Nucor Company 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.