Oslo Pensjonsforsikring AS Buys Shares of 2,278 Nucor Corporation $NUE

Oslo Pensjonsforsikring AS purchased a new position in Nucor Corporation (NYSE:NUE) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 2,278 shares of the basic materials company’s stock, valued at approximately $385,000.

A number of other large investors also recently modified their holdings of the business. RKL Wealth Management LLC raised its stake in Nucor by 0.9% during the 1st quarter. RKL Wealth Management LLC now owns 5,318 shares of the basic materials company’s stock valued at $899,000 after purchasing an additional 48 shares during the last quarter. Empirical Asset Management LLC grew its position in Nucor by 2.6% in the 4th quarter. Empirical Asset Management LLC now owns 2,130 shares of the basic materials company’s stock worth $347,000 after purchasing an additional 54 shares during the last quarter. Krilogy Financial LLC grew its position in Nucor by 4.1% in the 4th quarter. Krilogy Financial LLC now owns 1,531 shares of the basic materials company’s stock worth $272,000 after purchasing an additional 61 shares during the last quarter. Bartlett & CO. Wealth Management LLC increased its holdings in shares of Nucor by 49.2% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 63 shares during the period. Finally, IHT Wealth Management LLC increased its holdings in shares of Nucor by 2.0% during the 4th quarter. IHT Wealth Management LLC now owns 3,306 shares of the basic materials company’s stock worth $539,000 after purchasing an additional 64 shares during the period. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Nucor from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 14th. Bank of America lowered their price target on Nucor from $290.00 to $280.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Zacks Research cut Nucor from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. The Goldman Sachs Group raised their price objective on Nucor from $260.00 to $284.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. Finally, CICC Research began coverage on Nucor in a report on Monday, May 25th. They set an “outperform” rating on the stock. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $266.31.

Insider Activity

In other Nucor news, EVP Noah C. Hanners sold 6,472 shares of Nucor stock in a transaction on Friday, May 1st. The stock was sold at an average price of $226.50, for a total transaction of $1,465,908.00. Following the completion of the transaction, the executive vice president directly owned 50,377 shares of the company’s stock, valued at approximately $11,410,390.50. This trade represents a 11.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Daniel R. Needham sold 12,888 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $226.00, for a total transaction of $2,912,688.00. Following the completion of the sale, the executive vice president owned 89,724 shares in the company, valued at $20,277,624. This represents a 12.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 82,378 shares of company stock valued at $18,963,930. 0.62% of the stock is owned by company insiders.

Nucor Stock Up 1.3%

Shares of NUE opened at $236.20 on Thursday. The company has a quick ratio of 1.55, a current ratio of 2.90 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average price of $239.33 and a two-hundred day moving average price of $203.37. The stock has a market cap of $53.79 billion, a price-to-earnings ratio of 23.39, a P/E/G ratio of 0.54 and a beta of 1.91. Nucor Corporation has a 12 month low of $131.32 and a 12 month high of $270.90.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.41. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The company had revenue of $9.50 billion for the quarter, compared to analyst estimates of $8.88 billion. During the same period in the prior year, the company posted $0.77 EPS. The company’s revenue was up 21.3% compared to the same quarter last year. Equities analysts predict that Nucor Corporation will post 17.53 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th will be 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 is Tuesday, June 30th. Nucor’s dividend payout ratio is 22.18%.

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.