Wellington Management Group LLP Cuts Position in Nucor Co. (NYSE:NUE)

Wellington Management Group LLP lowered its position in Nucor Co. (NYSE:NUEFree Report) by 72.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,359 shares of the basic materials company’s stock after selling 58,499 shares during the quarter. Wellington Management Group LLP’s holdings in Nucor were worth $3,496,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC lifted its position in shares of Nucor by 127,059.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 155,232,061 shares of the basic materials company’s stock worth $20,461,138,000 after purchasing an additional 155,109,984 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Nucor by 0.4% during the 1st quarter. Geode Capital Management LLC now owns 5,438,353 shares of the basic materials company’s stock worth $841,209,000 after acquiring an additional 23,366 shares in the last quarter. Morgan Stanley increased its holdings in shares of Nucor by 30.0% in the 4th quarter. Morgan Stanley now owns 4,247,626 shares of the basic materials company’s stock valued at $559,880,000 after acquiring an additional 979,824 shares during the last quarter. Northern Trust Corp raised its position in shares of Nucor by 3.7% during the 3rd quarter. Northern Trust Corp now owns 4,175,571 shares of the basic materials company’s stock worth $652,851,000 after acquiring an additional 149,589 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Nucor by 7.6% during the third quarter. Invesco Ltd. now owns 2,262,832 shares of the basic materials company’s stock worth $353,794,000 after purchasing an additional 159,230 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Activity

In related news, EVP Kenneth Rex Query sold 5,500 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 85,326 shares of the company’s stock, valued at approximately $15,902,206.62. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Douglas J. Jellison sold 19,506 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the sale, the executive vice president now owns 120,738 shares of the company’s stock, valued at $23,351,936.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kenneth Rex Query sold 5,500 shares of Nucor stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the sale, the executive vice president now owns 85,326 shares of the company’s stock, valued at $15,902,206.62. The disclosure for this sale can be found here. Insiders sold a total of 38,151 shares of company stock worth $7,308,683 over the last 90 days. 0.46% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NUE. StockNews.com cut shares of Nucor from a “buy” rating to a “hold” rating in a report on Wednesday, March 13th. JPMorgan Chase & Co. boosted their price target 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. UBS Group initiated coverage on Nucor in a report on Tuesday, January 16th. They set a “buy” rating and a $210.00 price objective on the stock. Finally, Citigroup raised Nucor from a “neutral” rating to a “buy” rating and boosted their target price for the company from $180.00 to $240.00 in a report on Wednesday, March 13th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Nucor currently has a consensus rating of “Hold” and an average price target of $186.67.

Get Our Latest Analysis on Nucor

Nucor Trading Down 0.7 %

NYSE:NUE opened at $194.08 on Wednesday. Nucor Co. has a 1 year low of $129.79 and a 1 year high of $198.61. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.35 and a current ratio of 3.57. The stock has a fifty day moving average price of $184.05 and a two-hundred day moving average price of $168.54. The stock has a market capitalization of $46.72 billion, a price-to-earnings ratio of 10.79 and a beta of 1.61.

Nucor (NYSE:NUEGet Free Report) last issued its earnings results on Monday, January 29th. The basic materials company reported $3.16 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.33. Nucor had a net margin of 13.03% and a return on equity of 21.42%. The company had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.64 billion. During the same period in the prior year, the business posted $4.89 earnings per share. The firm’s revenue for the quarter was down 11.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Nucor Co. will post 14.03 earnings per share for the current fiscal year.

Nucor Dividend Announcement

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 issued a dividend of $0.54 per share. The ex-dividend date is Wednesday, March 27th. This represents a $2.16 annualized dividend and a yield of 1.11%. Nucor’s dividend payout ratio is presently 12.01%.

About Nucor

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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