Oppenheimer Asset Management Inc. cut its stake in Nucor Corporation (NYSE:NUE) by 10.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,582 shares of the basic materials company’s stock after selling 519 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Nucor Corporation were worth $265,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Washington Trust Bank increased its stake in shares of Nucor Corporation by 60.2% during the 2nd quarter. Washington Trust Bank now owns 1,756 shares of the basic materials company’s stock worth $102,000 after purchasing an additional 660 shares in the last quarter. Advantage Investment Management LLC increased its stake in shares of Nucor Corporation by 164.9% during the 1st quarter. Advantage Investment Management LLC now owns 1,854 shares of the basic materials company’s stock worth $111,000 after purchasing an additional 1,154 shares in the last quarter. Valley National Advisers Inc. increased its stake in shares of Nucor Corporation by 12.0% during the 1st quarter. Valley National Advisers Inc. now owns 2,340 shares of the basic materials company’s stock worth $140,000 after purchasing an additional 250 shares in the last quarter. First Command Bank increased its stake in shares of Nucor Corporation by 1.5% during the 2nd quarter. First Command Bank now owns 2,905 shares of the basic materials company’s stock worth $169,000 after purchasing an additional 44 shares in the last quarter. Finally, Ledyard National Bank increased its stake in shares of Nucor Corporation by 56.2% during the 2nd quarter. Ledyard National Bank now owns 3,195 shares of the basic materials company’s stock worth $185,000 after purchasing an additional 1,150 shares in the last quarter. 74.86% of the stock is owned by institutional investors.

In related news, Chairman John J. Ferriola sold 14,941 shares of the company’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $60.17, for a total transaction of $898,999.97. Following the completion of the sale, the chairman now directly owns 361,847 shares of the company’s stock, valued at approximately $21,772,333.99. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Leon J. Topalian sold 2,626 shares of the company’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $60.23, for a total transaction of $158,163.98. Following the sale, the insider now directly owns 19,610 shares of the company’s stock, valued at $1,181,110.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,104 shares of company stock worth $1,213,595. 0.70% of the stock is currently owned by company insiders.

Shares of Nucor Corporation (NYSE NUE) opened at 55.11 on Wednesday. The firm has a 50-day moving average of $55.28 and a 200 day moving average of $58.29. The stock has a market capitalization of $17.60 billion, a PE ratio of 15.47 and a beta of 1.53. Nucor Corporation has a 1-year low of $45.30 and a 1-year high of $68.00.

Nucor Corporation (NYSE:NUE) last announced its quarterly earnings results on Thursday, July 20th. The basic materials company reported $1.00 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.06). Nucor Corporation had a return on equity of 13.39% and a net margin of 6.08%. The business had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.08 billion. During the same quarter last year, the company earned $0.73 EPS. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. On average, equities analysts anticipate that Nucor Corporation will post $3.96 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.3775 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.51 annualized dividend and a dividend yield of 2.74%. Nucor Corporation’s dividend payout ratio (DPR) is 43.77%.

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NUE has been the subject of a number of recent research reports. Jefferies Group LLC reissued a “buy” rating on shares of Nucor Corporation in a research note on Friday, June 30th. Bank of America Corporation reissued a “buy” rating and set a $73.00 price objective on shares of Nucor Corporation in a research note on Wednesday, September 6th. ValuEngine cut shares of Nucor Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 16th. Cowen and Company reissued a “market perform” rating and set a $63.00 price objective (up from $62.00) on shares of Nucor Corporation in a research note on Tuesday, July 25th. Finally, Berenberg Bank reissued a “buy” rating and set a $77.50 price objective on shares of Nucor Corporation in a research note on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $68.00.

Nucor Corporation Profile

Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).

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Institutional Ownership by Quarter for Nucor Corporation (NYSE:NUE)

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