Oppenheimer & Co. Inc. Acquires 80 Shares of Nucor Co. (NYSE:NUE)

Oppenheimer & Co. Inc. raised its holdings in Nucor Co. (NYSE:NUE) by 0.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,537 shares of the basic materials company’s stock after buying an additional 80 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Nucor were worth $2,930,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Vest Financial LLC grew its position in shares of Nucor by 28.3% in the 2nd quarter. Vest Financial LLC now owns 390,896 shares of the basic materials company’s stock worth $61,793,000 after buying an additional 86,292 shares during the last quarter. Achmea Investment Management B.V. grew its position in shares of Nucor by 2.5% in the 2nd quarter. Achmea Investment Management B.V. now owns 82,795 shares of the basic materials company’s stock worth $13,088,000 after buying an additional 2,028 shares during the last quarter. Forsta AP Fonden grew its position in shares of Nucor by 4.1% in the 2nd quarter. Forsta AP Fonden now owns 70,300 shares of the basic materials company’s stock worth $11,113,000 after buying an additional 2,800 shares during the last quarter. Qsemble Capital Management LP bought a new stake in shares of Nucor in the 2nd quarter worth approximately $1,712,000. Finally, HHM Wealth Advisors LLC grew its position in shares of Nucor by 769.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock worth $36,000 after buying an additional 200 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on NUE shares. Jefferies Financial Group started coverage on Nucor in a research note on Monday, May 20th. They issued a “hold” rating and a $190.00 target price for the company. BMO Capital Markets lowered their target price on Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a research note on Monday, June 17th. Morgan Stanley upgraded Nucor from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $187.00 to $176.00 in a research note on Thursday, August 15th. Bank of America lowered their target price on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Finally, JPMorgan Chase & Co. upgraded Nucor from a “neutral” rating to an “overweight” rating and raised their target price for the company from $170.00 to $174.00 in a research note on Monday, September 9th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $195.00.

Insiders Place Their Bets

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of Nucor stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total value of $1,379,840.00. Following the completion of the sale, the executive vice president now owns 99,049 shares of the company’s stock, valued at approximately $15,847,840. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.46% of the company’s stock.

Nucor Stock Up 2.1 %

Shares of NYSE:NUE opened at $143.59 on Monday. The stock has a fifty day simple moving average of $150.71 and a two-hundred day simple moving average of $167.41. The stock has a market capitalization of $34.43 billion, a price-to-earnings ratio of 8.45 and a beta of 1.55. Nucor Co. has a 12-month low of $133.42 and a 12-month high of $203.00. 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 (NYSE:NUE) last announced its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.37. The business had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $7.69 billion. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The firm’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.81 earnings per share. On average, research analysts anticipate that Nucor Co. will post 9.95 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date is Friday, September 27th. Nucor’s payout ratio is 12.71%.

About Nucor

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.