IFG Advisory LLC Makes New $1.38 Million Investment in Nucor Corporation $NUE

IFG Advisory LLC bought a new stake in shares of Nucor Corporation (NYSE:NUE) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,195 shares of the basic materials company’s stock, valued at approximately $1,381,000.

A number of other institutional investors also recently bought and sold shares of NUE. Whittier Trust Co. raised its holdings in Nucor by 5.6% in the third quarter. Whittier Trust Co. now owns 1,330 shares of the basic materials company’s stock worth $184,000 after purchasing an additional 70 shares in the last quarter. IMA Advisory Services Inc. boosted its holdings in shares of Nucor by 51.4% during the 2nd quarter. IMA Advisory Services Inc. now owns 221 shares of the basic materials company’s stock valued at $29,000 after buying an additional 75 shares in the last quarter. HUB Investment Partners LLC grew its position in shares of Nucor by 1.9% in the 2nd quarter. HUB Investment Partners LLC now owns 4,099 shares of the basic materials company’s stock worth $531,000 after buying an additional 75 shares during the period. Dorsey & Whitney Trust CO LLC grew its position in shares of Nucor by 1.9% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 4,326 shares of the basic materials company’s stock worth $560,000 after buying an additional 79 shares during the period. Finally, Versant Capital Management Inc increased its stake in shares of Nucor by 23.2% in the 3rd quarter. Versant Capital Management Inc now owns 425 shares of the basic materials company’s stock worth $58,000 after acquiring an additional 80 shares in the last quarter. 76.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on NUE shares. Seaport Research Partners boosted their target price on Nucor from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, January 30th. UBS Group lowered shares of Nucor from a “buy” rating to a “neutral” rating and set a $183.00 price objective for the company. in a report on Wednesday, January 28th. Morgan Stanley reiterated an “equal weight” rating and set a $180.00 target price (up from $165.00) on shares of Nucor in a research note on Friday, January 9th. The Goldman Sachs Group boosted their price target on Nucor from $182.00 to $196.00 and gave the stock a “buy” rating in a research note on Friday, January 16th. Finally, Wells Fargo & Company increased their price objective on shares of Nucor from $184.00 to $194.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $182.80.

Insider Activity

In other Nucor news, EVP Allen C. Behr sold 7,568 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $188.50, for a total value of $1,426,568.00. Following the transaction, the executive vice president owned 67,711 shares of the company’s stock, valued at $12,763,523.50. This represents a 10.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Kenneth Rex Query sold 7,452 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $196.02, for a total value of $1,460,741.04. Following the completion of the sale, the executive vice president owned 76,628 shares in the company, valued at approximately $15,020,620.56. The trade was a 8.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 34,351 shares of company stock worth $6,206,158. 0.46% of the stock is currently owned by insiders.

Nucor Price Performance

Shares of Nucor stock opened at $168.58 on Friday. The company has a market capitalization of $38.40 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 0.62 and a beta of 1.83. The company has a quick ratio of 1.57, a current ratio of 2.94 and a debt-to-equity ratio of 0.31. The stock’s 50-day simple moving average is $176.90 and its 200-day simple moving average is $157.68. Nucor Corporation has a 52 week low of $97.59 and a 52 week high of $196.90.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, January 26th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.18). The company had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.93 billion. Nucor had a net margin of 5.37% and a return on equity of 8.26%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the business earned $1.22 earnings per share. As a group, analysts expect that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 11th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, March 31st. Nucor’s payout ratio is presently 29.71%.

Nucor declared that its Board of Directors has initiated a stock repurchase program on Friday, February 20th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the basic materials company to buy up to 9.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

Nucor Company 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.