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

Procyon Advisors LLC increased its stake in Nucor Co. (NYSE:NUE - Free Report) by 26.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,656 shares of the basic materials company's stock after buying an additional 4,103 shares during the quarter. Procyon Advisors LLC's holdings in Nucor were worth $2,318,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in NUE. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Nucor during the fourth quarter valued at $25,000. Putney Financial Group LLC purchased a new position in shares of Nucor during the fourth quarter valued at $29,000. Fourth Dimension Wealth LLC purchased a new position in shares of Nucor during the fourth quarter valued at $41,000. Park Square Financial Group LLC purchased a new position in shares of Nucor during the fourth quarter valued at $48,000. Finally, Beacon Capital Management LLC increased its stake in shares of Nucor by 29.1% during the fourth quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company's stock valued at $49,000 after buying an additional 94 shares during the period. 76.48% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Leon J. Topalian sold 34,238 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $120.19, for a total value of $4,115,065.22. Following the transaction, the chief executive officer now owns 162,993 shares of the company's stock, valued at approximately $19,590,128.67. The trade was a 17.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on NUE. BMO Capital Markets upgraded Nucor from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $140.00 to $145.00 in a research note on Monday, June 2nd. Wall Street Zen lowered Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. The Goldman Sachs Group dropped their price target on Nucor from $175.00 to $169.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. JPMorgan Chase & Co. dropped their price target on Nucor from $156.00 to $140.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Argus set a $155.00 price target on Nucor in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $157.22.

Nucor Trading Up 2.5%

Nucor stock traded up $2.96 during midday trading on Friday, reaching $121.71. 2,061,217 shares of the stock traded hands, compared to its average volume of 2,192,487. The company has a 50-day simple moving average of $113.79 and a two-hundred day simple moving average of $124.85. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. The firm has a market cap of $28.08 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 0.96 and a beta of 1.67. Nucor Co. has a 12-month low of $97.59 and a 12-month high of $170.52.

Nucor (NYSE:NUE - Get Free Report) last posted its earnings results on Monday, April 28th. The basic materials company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.15). The business had revenue of $7.83 billion for the quarter, compared to analysts' expectations of $7.25 billion. Nucor had a return on equity of 9.85% and a net margin of 6.60%. Nucor's revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.46 EPS. Research analysts expect that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

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.