OFC Financial Planning LLC Makes New Investment in Nucor Corporation $NUE

OFC Financial Planning LLC purchased a new stake in Nucor Corporation (NYSE:NUE) in the second quarter, Holdings Channel reports. The institutional investor purchased 7,526 shares of the basic materials company’s stock, valued at approximately $1,676,000. Nucor comprises about 1.5% of OFC Financial Planning LLC’s portfolio, making the stock its 14th biggest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Integrated Wealth Concepts LLC increased its stake in shares of Nucor by 21.1% in the first quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock valued at $393,000 after buying an additional 568 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Nucor during the 1st quarter worth approximately $259,000. Geneos Wealth Management Inc. increased its position in Nucor by 81.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 153 shares during the period. Sivia Capital Partners LLC bought a new position in shares of Nucor during the second quarter valued at $390,000. Finally, Cerity Partners LLC lifted its holdings in shares of Nucor by 51.9% during the second quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock worth $5,263,000 after purchasing an additional 13,877 shares during the period. Institutional investors own 76.48% of the company’s stock.

Insider Buying and Selling at Nucor

In other Nucor news, EVP John J. Hollatz sold 10,560 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total transaction of $2,729,337.60. Following the transaction, the executive vice president owned 97,865 shares in the company, valued at approximately $25,294,187.90. This represents a 9.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Stephen D. Laxton sold 3,968 shares of Nucor stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the transaction, the chief operating officer owned 77,867 shares of the company’s stock, valued at $20,008,704.32. This represents a 4.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 18,528 shares of company stock worth $4,793,035. 0.62% of the stock is owned by corporate insiders.

Nucor Stock Down 2.9%

Shares of NYSE NUE opened at $264.74 on Wednesday. The company has a quick ratio of 1.36, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The firm has a market cap of $60.06 billion, a PE ratio of 21.11, a P/E/G ratio of 0.60 and a beta of 1.89. The company’s fifty day simple moving average is $247.76 and its 200 day simple moving average is $215.68. Nucor Corporation has a 12-month low of $131.32 and a 12-month high of $280.11.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, July 27th. The basic materials company reported $4.84 earnings per share for the quarter, beating the consensus estimate of $4.46 by $0.38. The firm had revenue of $10.40 billion for the quarter, compared to analyst estimates of $10.15 billion. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The business’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.60 earnings per share. As a group, sell-side analysts forecast that Nucor Corporation will post 17.95 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Tuesday, June 30th. Nucor’s dividend payout ratio (DPR) is currently 17.86%.

Analyst Ratings Changes

A number of analysts recently weighed in on NUE shares. BNP Paribas Exane increased their price objective on Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Wells Fargo & Company raised their price objective on Nucor from $283.00 to $297.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Morgan Stanley set a $270.00 target price on Nucor in a report on Wednesday, July 29th. Barclays raised their price target on shares of Nucor from $272.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Finally, Citigroup reaffirmed a “buy” rating on shares of Nucor in a research note on Wednesday, July 29th. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $273.31.

About Nucor

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.