Oppenheimer & Co. Inc. Sells 6,019 Shares of Nucor Co. (NYSE:NUE)

Oppenheimer & Co. Inc. reduced its position in shares of Nucor Co. (NYSE:NUE) by 32.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 12,518 shares of the basic materials company’s stock after selling 6,019 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Nucor were worth $1,882,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in NUE. Dimensional Fund Advisors LP increased its holdings in shares of Nucor by 2.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,909,388 shares of the basic materials company’s stock worth $617,915,000 after acquiring an additional 84,558 shares during the last quarter. Pacer Advisors Inc. boosted its position in Nucor by 29.7% during the second quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock worth $456,030,000 after purchasing an additional 660,866 shares during the period. Legal & General Group Plc increased its holdings in shares of Nucor by 3.2% in the second quarter. Legal & General Group Plc now owns 2,160,803 shares of the basic materials company’s stock valued at $341,580,000 after purchasing an additional 67,974 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Nucor by 11.6% in the second quarter. Hsbc Holdings PLC now owns 1,069,920 shares of the basic materials company’s stock valued at $169,433,000 after purchasing an additional 111,177 shares during the period. Finally, ProShare Advisors LLC lifted its stake in shares of Nucor by 2.8% during the 2nd quarter. ProShare Advisors LLC now owns 1,055,632 shares of the basic materials company’s stock worth $166,874,000 after buying an additional 28,384 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Buying and Selling

In other news, EVP Allen C. Behr sold 4,968 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $159.72, for a total value of $793,488.96. Following the sale, the executive vice president now directly owns 85,376 shares in the company, valued at approximately $13,636,254.72. This trade represents a 5.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Stephen D. Laxton sold 4,712 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total value of $798,825.36. Following the completion of the transaction, the chief financial officer now directly owns 82,132 shares of the company’s stock, valued at approximately $13,923,837.96. The trade was a 5.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,680 shares of company stock worth $4,773,724. Corporate insiders own 0.46% of the company’s stock.

Nucor Trading Up 0.5 %

Shares of NYSE:NUE opened at $147.08 on Monday. The company has a market capitalization of $34.54 billion, a P/E ratio of 14.21 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61. The business’s 50 day simple moving average is $148.88 and its 200 day simple moving average is $154.87. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.09. The company had revenue of $7.44 billion for the quarter, compared to analysts’ expectations of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. Nucor’s revenue was down 15.2% on a year-over-year basis. During the same quarter last year, the business earned $4.57 earnings per share. On average, research analysts anticipate that Nucor Co. will post 8.52 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Friday, September 27th. Nucor’s dividend payout ratio (DPR) is presently 20.87%.

Analyst Ratings Changes

A number of research analysts recently commented on NUE shares. Morgan Stanley decreased their price target on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their target price on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Argus upgraded Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Finally, BMO Capital Markets lowered their price objective on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 18th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.57.

Nucor 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.