Oakmont Investment Advisors Inc. Makes New Investment in Nucor Corporation $NUE

Oakmont Investment Advisors Inc. purchased a new stake in Nucor Corporation (NYSE:NUE) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 2,198 shares of the basic materials company’s stock, valued at approximately $490,000.

Other large investors have also modified their holdings of the company. Integrated Wealth Concepts LLC grew its holdings in shares of Nucor by 21.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock worth $393,000 after acquiring an additional 568 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Nucor in the 1st quarter valued at $259,000. Geneos Wealth Management Inc. boosted its position in shares of 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 purchasing an additional 153 shares during the period. Sivia Capital Partners LLC purchased a new position in Nucor in the 2nd quarter worth about $390,000. Finally, Cerity Partners LLC raised its holdings in Nucor by 51.9% during the 2nd quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock worth $5,263,000 after buying an additional 13,877 shares during the period. 76.48% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Bank of America reduced their price objective on shares of Nucor from $290.00 to $280.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Argus lifted their target price on shares of Nucor from $200.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Citigroup restated a “buy” rating on shares of Nucor in a report on Wednesday, July 29th. KeyCorp upgraded shares of Nucor from a “sector weight” rating to an “overweight” rating and set a $274.00 price target for the company in a research report on Wednesday, June 24th. Finally, Barclays raised their price objective on shares of Nucor from $272.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Nucor currently has a consensus rating of “Moderate Buy” and a consensus target price of $272.38.

Insider Buying and Selling

In other Nucor news, EVP Thomas Batterbee sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $261.02, for a total value of $1,044,080.00. Following the transaction, the executive vice president owned 16,138 shares in the company, valued at approximately $4,212,340.76. This represents a 19.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Stephen Laxton sold 3,968 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the completion of the sale, the chief operating officer owned 77,867 shares of the company’s stock, valued at approximately $20,008,704.32. The trade was a 4.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.62% of the company’s stock.

Nucor Stock Down 0.6%

Shares of Nucor stock opened at $260.98 on Friday. Nucor Corporation has a 1 year low of $131.32 and a 1 year high of $280.11. The company has a market cap of $59.21 billion, a P/E ratio of 20.81, a P/E/G ratio of 0.97 and a beta of 1.87. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average price of $248.16 and a 200 day moving average price of $221.33.

Nucor (NYSE:NUE) last released its earnings results 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 company had revenue of $10.40 billion for the quarter, compared to analysts’ expectations of $10.15 billion. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The business’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.60 EPS. As a group, analysts expect that Nucor Corporation will post 17.95 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. Nucor’s payout ratio is presently 17.86%.

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.