Nucor Co. (NYSE:NUE) Shares Acquired by Procyon Advisors LLC

Procyon Advisors LLC lifted its holdings in shares of Nucor Co. (NYSE:NUE) by 6.1% during the 4th quarter, Holdings Channel reports. The firm owned 19,516 shares of the basic materials company’s stock after buying an additional 1,126 shares during the period. Procyon Advisors LLC’s holdings in Nucor were worth $3,397,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in NUE. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Nucor during the third quarter worth about $25,000. Providence Capital Advisors LLC raised its holdings in Nucor by 15,470.4% in the first quarter. Providence Capital Advisors LLC now owns 4,204 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 4,177 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in Nucor in the first quarter valued at approximately $32,000. VisionPoint Advisory Group LLC acquired a new stake in Nucor in the second quarter valued at approximately $39,000. Finally, OFI Invest Asset Management acquired a new stake in Nucor in the third quarter valued at approximately $40,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity at Nucor

In related news, insider Michael D. Keller sold 3,145 shares of Nucor stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total value of $609,092.15. Following the transaction, the insider now directly owns 24,873 shares in the company, valued at approximately $4,817,153.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Nucor news, insider Michael D. Keller sold 3,145 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total transaction of $609,092.15. Following the sale, the insider now directly owns 24,873 shares in the company, valued at approximately $4,817,153.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Allen C. Behr sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $190.19, for a total transaction of $1,901,900.00. Following the sale, the executive vice president now owns 80,902 shares in the company, valued at $15,386,751.38. The disclosure for this sale can be found here. Insiders have sold a total of 38,151 shares of company stock worth $7,308,683 in the last three months. Insiders own 0.46% of the company’s stock.

Nucor Stock Down 0.5 %

NUE stock traded down $0.92 during midday trading on Thursday, reaching $197.64. 103,934 shares of the company were exchanged, compared to its average volume of 1,455,655. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.35 and a current ratio of 3.57. Nucor Co. has a 1-year low of $129.79 and a 1-year high of $199.00. The stock’s 50-day simple moving average is $184.52 and its 200 day simple moving average is $168.75. The company has a market cap of $47.43 billion, a price-to-earnings ratio of 11.04 and a beta of 1.61.

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

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Thursday, March 28th will be given a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.09%. Nucor’s dividend payout ratio (DPR) is 12.01%.

Nucor Company 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.