IFG Advisory LLC Raises Stock Holdings in Nucor Co. (NYSE:NUE)

IFG Advisory LLC boosted its holdings in shares of Nucor Co. (NYSE:NUE) by 5.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,549 shares of the basic materials company’s stock after purchasing an additional 328 shares during the quarter. IFG Advisory LLC’s holdings in Nucor were worth $1,140,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Moneta Group Investment Advisors LLC lifted its holdings in Nucor by 127,059.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 155,232,061 shares of the basic materials company’s stock worth $20,461,138,000 after buying an additional 155,109,984 shares during the last quarter. Morgan Stanley lifted its holdings in Nucor by 30.0% in the fourth quarter. Morgan Stanley now owns 4,247,626 shares of the basic materials company’s stock worth $559,880,000 after acquiring an additional 979,824 shares during the last quarter. Norges Bank acquired a new position in Nucor in the fourth quarter valued at approximately $111,725,000. Imprint Wealth LLC grew its holdings in shares of Nucor by 21,987.3% during the second quarter. Imprint Wealth LLC now owns 528,992 shares of the basic materials company’s stock valued at $52,899,000 after purchasing an additional 526,597 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of Nucor by 97.8% during the 1st quarter. First Trust Advisors LP now owns 820,706 shares of the basic materials company’s stock worth $121,998,000 after purchasing an additional 405,815 shares during the period. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Stock Up 2.6 %

Shares of NUE opened at $198.56 on Thursday. The company has a quick ratio of 2.35, a current ratio of 3.57 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average price of $184.52 and a two-hundred day moving average price of $168.75. The stock has a market cap of $47.65 billion, a price-to-earnings ratio of 11.04 and a beta of 1.61. Nucor Co. has a 12 month low of $129.79 and a 12 month high of $198.63.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, January 29th. The basic materials company reported $3.16 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.33. Nucor had a return on equity of 21.42% and a net margin of 13.03%. The firm had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.64 billion. During the same period in the prior year, the business posted $4.89 earnings per share. The business’s revenue was down 11.7% compared to the same quarter last year. Equities analysts predict that Nucor Co. will post 14.03 EPS for the current fiscal year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, March 28th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Wednesday, March 27th. Nucor’s payout ratio is currently 12.01%.

Insider Transactions at Nucor

In other news, EVP Kenneth Rex Query sold 5,500 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the transaction, the executive vice president now owns 85,326 shares of the company’s stock, valued at $15,902,206.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Nucor news, EVP Allen C. Behr sold 10,000 shares of the stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total value of $1,901,900.00. Following the sale, the executive vice president now directly owns 80,902 shares in the company, valued at $15,386,751.38. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kenneth Rex Query sold 5,500 shares of Nucor stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $186.37, for a total value of $1,025,035.00. Following the transaction, the executive vice president now owns 85,326 shares in the company, valued at $15,902,206.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,151 shares of company stock worth $7,308,683. Insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NUE. Citigroup raised Nucor from a “neutral” rating to a “buy” rating and increased their target price for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. JPMorgan Chase & Co. lifted their price target on Nucor from $151.00 to $158.00 and gave the company a “neutral” rating in a research report on Tuesday, December 12th. UBS Group assumed coverage on Nucor in a report on Tuesday, January 16th. They set a “buy” rating and a $210.00 target price for the company. Finally, StockNews.com lowered Nucor from a “buy” rating to a “hold” rating in a research report on Wednesday, March 13th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Nucor currently has a consensus rating of “Hold” and an average target price of $186.67.

Nucor Profile

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.