Procyon Advisors LLC Acquires 1,126 Shares of Nucor Co. (NYSE:NUE)

Procyon Advisors LLC increased its holdings in shares of Nucor Co. (NYSE:NUE) by 6.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,516 shares of the basic materials company’s stock after acquiring an additional 1,126 shares during the period. Procyon Advisors LLC’s holdings in Nucor were worth $3,397,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Householder Group Estate & Retirement Specialist LLC bought a new stake in Nucor during the third quarter worth about $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in shares of Nucor in the first quarter worth approximately $32,000. VisionPoint Advisory Group LLC bought a new position in shares of Nucor in the second quarter worth approximately $39,000. Chilton Capital Management LLC lifted its stake in shares of Nucor by 260.9% in the second quarter. Chilton Capital Management LLC now owns 249 shares of the basic materials company’s stock worth $41,000 after buying an additional 180 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Nucor by 2,410.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 251 shares of the basic materials company’s stock worth $44,000 after buying an additional 241 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Stock Performance

Nucor stock traded down $0.92 during midday trading on Thursday, reaching $197.64. 103,934 shares of the company traded hands, compared to its average volume of 1,455,655. The firm has a market capitalization of $47.43 billion, a price-to-earnings ratio of 11.04 and a beta of 1.61. The business has a 50 day moving average of $184.52 and a two-hundred day moving average of $168.75. Nucor Co. has a 12 month low of $129.79 and a 12 month high of $199.00. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.57 and a quick ratio of 2.35.

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. Nucor had a net margin of 13.03% and a return on equity of 21.42%. The business had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.64 billion. During the same period in the prior year, the company earned $4.89 earnings per share. The firm’s revenue was down 11.7% on a year-over-year basis. As a group, research analysts predict that Nucor Co. will post 14.03 earnings per share for the current year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.54 per share. The ex-dividend date 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 is currently 12.01%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and upped their target price for the stock from $180.00 to $240.00 in a research note on Wednesday, March 13th. UBS Group assumed coverage on shares of Nucor in a research note on Tuesday, January 16th. They issued a “buy” rating and a $210.00 target price on the stock. StockNews.com downgraded shares of Nucor from a “buy” rating to a “hold” rating in a research report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Nucor from $151.00 to $158.00 and gave the company a “neutral” rating in a research report on Tuesday, December 12th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Nucor presently has an average rating of “Hold” and a consensus price target of $186.67.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Kenneth Rex Query sold 5,500 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the completion of the sale, the executive vice president now directly owns 85,326 shares of the company’s stock, valued at $15,902,206.62. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Kenneth Rex Query sold 5,500 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $186.37, for a total value of $1,025,035.00. Following the completion of the sale, the executive vice president now directly owns 85,326 shares of the company’s stock, valued at $15,902,206.62. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael D. Keller sold 3,145 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total transaction of $609,092.15. Following the completion of the sale, the insider now directly owns 24,873 shares of the company’s stock, valued at $4,817,153.91. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,151 shares of company stock valued at $7,308,683. Insiders own 0.46% of the company’s stock.

About Nucor

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.