Oakmont Investment Advisors Inc. Acquires New Shares in Nucor Corporation $NUE

Oakmont Investment Advisors Inc. bought a new position in Nucor Corporation (NYSE:NUE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,198 shares of the basic materials company’s stock, valued at approximately $490,000.

Other hedge funds also recently added to or reduced their stakes in the company. Plan A Wealth LLC boosted its holdings in shares of Nucor by 3.1% during the second quarter. Plan A Wealth LLC now owns 4,040 shares of the basic materials company’s stock valued at $900,000 after acquiring an additional 122 shares during the period. Knollwood Investment Advisory LLC bought a new position in shares of Nucor during the second quarter worth about $225,000. Syon Capital LLC increased its holdings in shares of Nucor by 3.3% in the 2nd quarter. Syon Capital LLC now owns 2,326 shares of the basic materials company’s stock worth $518,000 after acquiring an additional 74 shares during the period. TD Waterhouse Canada Inc. increased its holdings in shares of Nucor by 149.4% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 15,876 shares of the basic materials company’s stock worth $3,477,000 after acquiring an additional 9,511 shares during the period. Finally, Premier Path Wealth Partners LLC lifted its position in Nucor by 7.4% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 3,323 shares of the basic materials company’s stock valued at $740,000 after purchasing an additional 228 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, 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 sale, the executive vice president owned 16,138 shares of the company’s stock, valued at approximately $4,212,340.76. The trade was a 19.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Stephen D. Laxton sold 3,968 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total value of $1,019,617.28. Following the completion of the sale, the chief operating officer owned 77,867 shares of the company’s stock, valued at approximately $20,008,704.32. This trade represents a 4.85% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.62% of the company’s stock.

Nucor Stock Down 0.6%

Nucor stock opened at $260.98 on Friday. The stock has a market cap of $59.21 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 0.97 and a beta of 1.87. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average price is $248.16 and its two-hundred day moving average price is $221.33. Nucor Corporation has a 52 week low of $131.32 and a 52 week high of $280.11.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, topping analysts’ consensus estimates of $4.46 by $0.38. The company had revenue of $10.40 billion for 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%. Nucor’s revenue was up 23.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.60 EPS. On average, analysts expect that Nucor Corporation will post 17.95 EPS for the current fiscal year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Nucor’s dividend payout ratio is 17.86%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Nucor from $297.00 to $285.00 and set an “overweight” rating for the company in a research note on Monday, August 24th. BMO Capital Markets raised their price target on shares of Nucor from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Weiss Ratings raised Nucor from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 25th. UBS Group boosted their price objective on Nucor from $224.00 to $256.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th. Finally, CICC Research assumed coverage on Nucor in a report on Monday, May 25th. They issued an “outperform” rating for the company. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Nucor presently has an average rating of “Moderate Buy” and an average target price of $272.38.

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.