IFG Advisory LLC Increases Stock Position in Nucor Corporation $NUE

IFG Advisory LLC grew its position in Nucor Corporation (NYSE:NUE) by 101.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,561 shares of the basic materials company’s stock after purchasing an additional 10,366 shares during the period. IFG Advisory LLC’s holdings in Nucor were worth $3,354,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Fox Run Management L.L.C. bought a new position in Nucor during the third quarter valued at about $1,528,000. Penserra Capital Management LLC boosted its position in Nucor by 15,814.3% during the third quarter. Penserra Capital Management LLC now owns 3,342 shares of the basic materials company’s stock worth $452,000 after purchasing an additional 3,321 shares during the period. Peterson Wealth Services boosted its position in Nucor by 587,032.0% during the third quarter. Peterson Wealth Services now owns 146,783 shares of the basic materials company’s stock worth $19,879,000 after purchasing an additional 146,758 shares during the period. Nordea Investment Management AB boosted its position in Nucor by 11.1% during the fourth quarter. Nordea Investment Management AB now owns 2,103,000 shares of the basic materials company’s stock worth $342,642,000 after purchasing an additional 210,577 shares during the period. Finally, FNY Investment Advisers LLC bought a new position in Nucor during the fourth quarter worth about $1,989,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Key Nucor News

Here are the key news stories impacting Nucor this week:

• Positive Sentiment: Zacks Research increased its earnings estimates for Nucor across several future periods, signaling improving profit expectations and supporting the stock’s valuation.
• Positive Sentiment: Analysts continue to view Nucor favorably, with the company receiving a consensus Moderate Buy recommendation, reinforcing upbeat sentiment around the name. Nucor Corporation (NYSE:NUE) Receives Consensus Recommendation of “Moderate Buy” from Analysts
• Neutral Sentiment: Coverage focused on why Nucor has risen since its last earnings report, with the implication that investor optimism is being driven by stronger earnings expectations rather than a new company announcement. Why Is Nucor (NUE) Up 6.7% Since Last Earnings Report?
• Neutral Sentiment: Another market note also highlighted the stock’s post-earnings strength and rising estimates, reinforcing the same positive earnings-driven narrative. Why Is Nucor (NUE) Up 6.7% Since Last Earnings Report?

Analysts Set New Price Targets

NUE has been the subject of a number of research reports. BMO Capital Markets increased their target price on shares of Nucor from $196.00 to $235.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. CICC Research initiated coverage on shares of Nucor in a research report on Monday. They set an “outperform” rating for the company. UBS Group lowered shares of Nucor from a “buy” rating to a “neutral” rating and increased their target price for the stock from $190.00 to $224.00 in a research report on Tuesday, April 28th. KeyCorp initiated coverage on shares of Nucor in a research report on Wednesday, March 25th. They set a “sector weight” rating for the company. Finally, Barclays initiated coverage on shares of Nucor in a research report on Thursday, May 21st. They set an “overweight” rating and a $270.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $247.50.

Nucor Price Performance

NUE stock opened at $249.50 on Friday. The firm has a 50 day moving average of $202.35 and a 200-day moving average of $180.53. 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 12 month low of $106.21 and a 12 month high of $250.37. The firm has a market capitalization of $56.82 billion, a P/E ratio of 24.70, a price-to-earnings-growth ratio of 0.65 and a beta of 1.87.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.41. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The company had revenue of $9.50 billion during the quarter, compared to analyst estimates of $8.88 billion. During the same period last year, the business earned $0.77 earnings per share. Nucor’s revenue was up 21.3% compared to the same quarter last year. As a group, sell-side analysts predict that Nucor Corporation will post 14.84 earnings per share for the current fiscal year.

Nucor announced that its Board of Directors has authorized a share repurchase plan on Friday, February 20th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the basic materials company to repurchase up to 9.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, EVP Allen C. Behr sold 10,096 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $226.08, for a total value of $2,282,503.68. Following the completion of the transaction, the executive vice president directly owned 62,871 shares in the company, valued at approximately $14,213,875.68. This trade represents a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel R. Needham sold 12,888 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president owned 89,724 shares of the company’s stock, valued at $20,277,624. This trade represents a 12.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 71,818 shares of company stock valued at $16,234,593 in the last three months. Insiders own 0.62% of the company’s stock.

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.