Oslo Pensjonsforsikring AS Purchases New Shares in Nucor Corporation $NUE

Oslo Pensjonsforsikring AS acquired a new stake in Nucor Corporation (NYSE:NUE) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 2,278 shares of the basic materials company’s stock, valued at approximately $385,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Nucor by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 28,407,540 shares of the basic materials company’s stock worth $4,633,554,000 after purchasing an additional 144,038 shares during the last quarter. Morgan Stanley lifted its position in Nucor by 1.1% during the 4th quarter. Morgan Stanley now owns 3,853,205 shares of the basic materials company’s stock worth $628,497,000 after buying an additional 41,728 shares in the last quarter. Norges Bank bought a new stake in Nucor during the 4th quarter worth about $609,002,000. Dimensional Fund Advisors LP grew its holdings in Nucor by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,539,044 shares of the basic materials company’s stock worth $429,298,000 after acquiring an additional 22,718 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Nucor by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,919,883 shares of the basic materials company’s stock valued at $313,152,000 after acquiring an additional 56,565 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Stock Up 1.3%

Shares of NYSE NUE opened at $236.20 on Thursday. The firm has a market capitalization of $53.79 billion, a PE ratio of 23.39, a price-to-earnings-growth ratio of 0.54 and a beta of 1.91. The company has a current ratio of 2.90, a quick ratio of 1.55 and a debt-to-equity ratio of 0.30. Nucor Corporation has a 1 year low of $131.32 and a 1 year high of $270.90. The firm’s 50-day moving average is $239.33 and its 200-day moving average is $203.37.

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

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Nucor’s payout ratio is currently 22.18%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NUE. UBS Group downgraded shares of Nucor from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $190.00 to $224.00 in a research note on Tuesday, April 28th. JPMorgan Chase & Co. increased their price target on shares of Nucor from $240.00 to $282.00 and gave the company an “overweight” rating in a research note on Wednesday, June 10th. The Goldman Sachs Group boosted their price objective on shares of Nucor from $260.00 to $284.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. CICC Research started coverage on Nucor in a report on Monday, May 25th. They set an “outperform” rating on the stock. Finally, Weiss Ratings upgraded Nucor from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 14th. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $266.31.

Insider Activity at Nucor

In other news, EVP Allen C. Behr sold 10,096 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $226.08, for a total value of $2,282,503.68. Following the transaction, the executive vice president owned 62,871 shares of the company’s stock, valued at $14,213,875.68. This represents a 13.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Bradley Ford sold 2,240 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $232.13, for a total value of $519,971.20. Following the completion of the transaction, the executive vice president owned 43,649 shares in the company, valued at $10,132,242.37. This represents a 4.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 82,378 shares of company stock worth $18,963,930. 0.62% of the stock is owned by company insiders.

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.