Buckhead Capital Management LLC Reduces Stake in Nucor Co. (NUE)

Buckhead Capital Management LLC lowered its position in shares of Nucor Co. (NYSE:NUE) by 5.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,515 shares of the basic materials company’s stock after selling 340 shares during the period. Buckhead Capital Management LLC’s holdings in Nucor were worth $322,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. BOKF NA lifted its holdings in shares of Nucor by 8.8% during the fourth quarter. BOKF NA now owns 8,097 shares of the basic materials company’s stock worth $420,000 after purchasing an additional 656 shares during the period. Empowered Funds LLC acquired a new position in Nucor in the fourth quarter valued at approximately $2,054,000. State of Alaska Department of Revenue lifted its holdings in Nucor by 16.6% in the fourth quarter. State of Alaska Department of Revenue now owns 60,149 shares of the basic materials company’s stock valued at $3,115,000 after acquiring an additional 8,573 shares during the period. Oakbrook Investments LLC lifted its holdings in Nucor by 77.1% in the first quarter. Oakbrook Investments LLC now owns 28,620 shares of the basic materials company’s stock valued at $1,670,000 after acquiring an additional 12,460 shares during the period. Finally, MU Investments Co. Ltd. acquired a new position in Nucor in the fourth quarter valued at approximately $5,079,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

NUE stock traded down $0.80 during trading on Wednesday, reaching $52.88. 1,791,576 shares of the stock traded hands, compared to its average volume of 2,407,460. Nucor Co. has a 52-week low of $49.79 and a 52-week high of $68.84. The company has a current ratio of 3.37, a quick ratio of 1.64 and a debt-to-equity ratio of 0.40. The company has a market cap of $16.24 billion, a PE ratio of 6.94, a price-to-earnings-growth ratio of 0.77 and a beta of 1.46.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $1.55 EPS for the quarter, topping the Zacks’ consensus estimate of $1.50 by $0.05. The company had revenue of $6.10 billion for the quarter, compared to analysts’ expectations of $6.05 billion. Nucor had a return on equity of 24.86% and a net margin of 9.80%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.17 earnings per share. Equities analysts forecast that Nucor Co. will post 5.74 EPS for the current fiscal year.

NUE has been the subject of a number of recent analyst reports. KeyCorp cut their price objective on Nucor from $70.00 to $66.00 and set an “overweight” rating for the company in a research report on Wednesday. UBS Group set a $59.00 price target on Nucor and gave the company a “hold” rating in a research note on Wednesday, May 8th. Standpoint Research raised Nucor from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Longbow Research cut Nucor from a “buy” rating to a “neutral” rating in a research report on Monday, March 11th. Finally, ValuEngine downgraded Nucor from a “hold” rating to a “sell” rating in a research report on Thursday, February 14th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $69.25.

In related news, EVP Leon J. Topalian sold 1,253 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $56.99, for a total value of $71,408.47. Following the transaction, the executive vice president now owns 46,593 shares in the company, valued at $2,655,335.07. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman John J. Ferriola sold 65,061 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $56.20, for a total value of $3,656,428.20. Following the completion of the transaction, the chairman now owns 403,735 shares in the company, valued at approximately $22,689,907. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,314 shares of company stock worth $4,310,637. 0.96% of the stock is currently owned by insiders.

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Nucor Profile

Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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