Oppenheimer & Co. Inc. Acquires 1,650 Shares of Nucor Co. (NYSE:NUE)

Oppenheimer & Co. Inc. boosted its holdings in shares of Nucor Co. (NYSE:NUE) by 13.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,168 shares of the basic materials company’s stock after purchasing an additional 1,650 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Nucor were worth $1,654,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in NUE. Gladstone Institutional Advisory LLC boosted its stake in Nucor by 18.1% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 2,829 shares of the basic materials company’s stock valued at $425,000 after purchasing an additional 433 shares during the period. Farther Finance Advisors LLC boosted its stake in Nucor by 5.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,009 shares of the basic materials company’s stock valued at $302,000 after purchasing an additional 100 shares during the period. Conning Inc. increased its holdings in shares of Nucor by 54.3% during the 3rd quarter. Conning Inc. now owns 3,366 shares of the basic materials company’s stock worth $506,000 after purchasing an additional 1,185 shares during the period. Van ECK Associates Corp increased its holdings in shares of Nucor by 9.1% during the 3rd quarter. Van ECK Associates Corp now owns 218,698 shares of the basic materials company’s stock worth $30,981,000 after purchasing an additional 18,325 shares during the period. Finally, National Pension Service increased its holdings in shares of Nucor by 3.2% during the 3rd quarter. National Pension Service now owns 652,502 shares of the basic materials company’s stock worth $98,097,000 after purchasing an additional 20,258 shares during the period. Institutional investors own 76.48% of the company’s stock.

Wall Street Analysts Forecast Growth

NUE has been the topic of several research reports. Morgan Stanley dropped their price objective on shares of Nucor from $166.00 to $154.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Citigroup reduced their target price on Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. The Goldman Sachs Group assumed coverage on Nucor in a research note on Monday, December 2nd. They issued a “buy” rating and a $190.00 price objective on the stock. UBS Group reiterated a “neutral” rating and issued a $156.00 price objective (down from $171.00) on shares of Nucor in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. cut their price target on shares of Nucor from $152.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $163.13.

Nucor Trading Down 2.6 %

Shares of NYSE NUE opened at $133.94 on Tuesday. Nucor Co. has a 1-year low of $112.25 and a 1-year high of $203.00. The company has a market cap of $31.45 billion, a PE ratio of 15.93, a P/E/G ratio of 0.96 and a beta of 1.60. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average of $127.21 and a two-hundred day moving average of $139.44.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.28. Nucor had a return on equity of 9.85% and a net margin of 6.60%. During the same period in the previous year, the business earned $3.16 EPS. As a group, equities analysts expect that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Monday, March 31st. Nucor’s payout ratio is 26.16%.

About Nucor

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.