Oppenheimer Asset Management Inc. Takes $5.23 Million Position in Nucor Corporation $NUE

Oppenheimer Asset Management Inc. purchased a new stake in shares of Nucor Corporation (NYSE:NUE) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 40,336 shares of the basic materials company’s stock, valued at approximately $5,225,000.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Nucor by 2.6% during the first quarter. Vanguard Group Inc. now owns 28,959,327 shares of the basic materials company’s stock valued at $3,484,965,000 after buying an additional 745,671 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Nucor by 18.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,309,452 shares of the basic materials company’s stock worth $277,920,000 after purchasing an additional 355,364 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Nucor by 10.6% in the second quarter. Nordea Investment Management AB now owns 1,856,100 shares of the basic materials company’s stock worth $244,059,000 after purchasing an additional 177,420 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Nucor by 5.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,772,831 shares of the basic materials company’s stock worth $213,342,000 after purchasing an additional 92,363 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. purchased a new stake in Nucor in the first quarter worth approximately $194,804,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Stock Up 4.1%

Shares of NUE stock opened at $144.33 on Tuesday. The company has a market capitalization of $33.13 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 1.03 and a beta of 1.75. Nucor Corporation has a one year low of $97.59 and a one year high of $170.52. The company’s fifty day moving average price is $140.43 and its 200-day moving average price is $131.23. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.83 and a quick ratio of 1.51.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, October 27th. The basic materials company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.30 by $0.33. The firm had revenue of $8.52 billion for the quarter, compared to the consensus estimate of $8.27 billion. Nucor had a net margin of 4.21% and a return on equity of 6.65%. The company’s revenue was up 14.5% on a year-over-year basis. During the same period last year, the firm earned $1.49 EPS. Nucor has set its Q4 2025 guidance at -2.630 EPS. Sell-side analysts expect that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Tuesday, September 30th. Nucor’s dividend payout ratio (DPR) is presently 39.71%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Bank of America raised their target price on shares of Nucor from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Weiss Ratings restated a “hold (c)” rating on shares of Nucor in a report on Wednesday, October 8th. JPMorgan Chase & Co. raised their target price on shares of Nucor from $165.00 to $172.00 and gave the stock an “overweight” rating in a report on Monday, October 13th. The Goldman Sachs Group dropped their target price on shares of Nucor from $182.00 to $173.00 and set a “buy” rating on the stock in a report on Monday, September 22nd. Finally, Wells Fargo & Company dropped their target price on shares of Nucor from $146.00 to $140.00 and set an “equal weight” rating on the stock in a report on Thursday, September 18th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $157.60.

Insider Activity

In other news, insider Michael D. Keller sold 6,088 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $148.41, for a total transaction of $903,520.08. Following the sale, the insider directly owned 22,464 shares in the company, valued at $3,333,882.24. This trade represents a 21.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Daniel R. Needham sold 7,200 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $146.00, for a total transaction of $1,051,200.00. Following the sale, the executive vice president owned 92,179 shares in the company, valued at $13,458,134. The trade was a 7.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,309 shares of company stock valued at $4,553,771 over the last 90 days. Company insiders own 0.71% 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.