5,583 Shares in Nucor Corporation $NUE Acquired by Balboa Wealth Partners

Balboa Wealth Partners purchased a new stake in Nucor Corporation (NYSE:NUE) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 5,583 shares of the basic materials company’s stock, valued at approximately $756,000.

Other large investors have also recently added to or reduced their stakes in the company. RFG Advisory LLC boosted its position in shares of Nucor by 2.9% in the second quarter. RFG Advisory LLC now owns 2,462 shares of the basic materials company’s stock valued at $319,000 after acquiring an additional 69 shares during the period. Whittier Trust Co. raised its stake in Nucor by 5.6% in the 3rd 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 Nucor by 51.4% in the 2nd quarter. IMA Advisory Services Inc. now owns 221 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 75 shares during the period. HUB Investment Partners LLC grew its position in shares of Nucor by 1.9% during the 2nd quarter. HUB Investment Partners LLC now owns 4,099 shares of the basic materials company’s stock worth $531,000 after purchasing an additional 75 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC grew its position in shares of Nucor by 1.9% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 4,326 shares of the basic materials company’s stock worth $560,000 after purchasing an additional 79 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NUE shares. BMO Capital Markets reiterated an “outperform” rating on shares of Nucor in a research note on Wednesday, October 29th. Wall Street Zen raised Nucor from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Wells Fargo & Company increased their target price on Nucor from $176.00 to $184.00 and gave the stock an “overweight” rating in a report on Wednesday, January 28th. Citigroup raised their price target on Nucor from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, BNP Paribas Exane upped their price objective on shares of Nucor from $165.00 to $185.00 and gave the stock an “outperform” rating in a research report on Friday, January 2nd. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Nucor currently has an average rating of “Moderate Buy” and an average price target of $179.36.

Insider Activity at Nucor

In related news, EVP Daniel R. Needham sold 3,881 shares of Nucor stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $178.00, for a total transaction of $690,818.00. Following the sale, the executive vice president directly owned 88,298 shares of the company’s stock, valued at approximately $15,717,044. The trade was a 4.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kenneth Rex Query sold 7,452 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $196.02, for a total transaction of $1,460,741.04. Following the transaction, the executive vice president owned 76,628 shares of the company’s stock, valued at approximately $15,020,620.56. This represents a 8.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 34,351 shares of company stock valued at $6,206,158. 0.46% of the stock is currently owned by company insiders.

Nucor Trading Down 3.1%

Shares of NUE opened at $182.97 on Friday. Nucor Corporation has a 52-week low of $97.59 and a 52-week high of $196.90. The business’s fifty day moving average is $172.29 and its 200-day moving average is $153.86. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.94. The firm has a market cap of $41.87 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 0.68 and a beta of 1.86.

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

Nucor Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 11th. Stockholders of record on Wednesday, December 31st were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from Nucor’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Wednesday, December 31st. Nucor’s dividend payout ratio (DPR) is currently 29.71%.

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.