Nucor Co. (NYSE:NUE) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP lifted its holdings in shares of Nucor Co. (NYSE:NUE) by 15.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 249,984 shares of the basic materials company’s stock after buying an additional 34,149 shares during the period. Wellington Management Group LLP owned approximately 0.11% of Nucor worth $37,583,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mizuho Securities USA LLC raised its holdings in Nucor by 8,530.1% during the third quarter. Mizuho Securities USA LLC now owns 1,595,179 shares of the basic materials company’s stock worth $239,819,000 after purchasing an additional 1,576,695 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Nucor by 29.7% in the 2nd quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock valued at $456,030,000 after acquiring an additional 660,866 shares during the last quarter. Ceredex Value Advisors LLC acquired a new position in shares of Nucor in the 3rd quarter worth approximately $74,829,000. State Street Corp raised its holdings in shares of Nucor by 2.9% in the 3rd quarter. State Street Corp now owns 11,427,899 shares of the basic materials company’s stock worth $1,724,117,000 after purchasing an additional 326,181 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Nucor by 14,525.9% during the third quarter. International Assets Investment Management LLC now owns 326,889 shares of the basic materials company’s stock valued at $49,144,000 after purchasing an additional 324,654 shares during the last quarter. 76.48% of the stock is owned by institutional investors.

Nucor Price Performance

NYSE NUE opened at $131.42 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61. The firm has a market capitalization of $30.86 billion, a price-to-earnings ratio of 12.81 and a beta of 1.55. The company has a 50 day simple moving average of $150.05 and a 200-day simple moving average of $151.98. Nucor Co. has a 52-week low of $130.65 and a 52-week high of $203.00.

Nucor (NYSE:NUE) last issued its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.09. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The company had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. During the same quarter last year, the business posted $4.57 EPS. The company’s revenue for the quarter was down 15.2% on a year-over-year basis. Equities research analysts predict that Nucor Co. will post 8.5 earnings per share for the current fiscal year.

Nucor Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Tuesday, December 31st will be given a $0.55 dividend. This is a positive change from Nucor’s previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Tuesday, December 31st. Nucor’s dividend payout ratio is presently 20.87%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NUE. Argus raised Nucor to a “strong-buy” rating in a report on Monday, August 26th. Morgan Stanley cut their target price on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. BMO Capital Markets decreased their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research report on Wednesday, September 18th. JPMorgan Chase & Co. cut their price objective on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, UBS Group reiterated a “neutral” rating and issued a $156.00 target price (down from $171.00) on shares of Nucor in a report on Thursday. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $183.75.

Insider Transactions at Nucor

In other news, CEO Leon J. Topalian sold 11,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the transaction, the chief executive officer now owns 172,136 shares in the company, valued at $29,109,918.96. This represents a 6.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Stephen D. Laxton sold 4,712 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total transaction of $798,825.36. Following the transaction, the chief financial officer now owns 82,132 shares in the company, valued at $13,923,837.96. This represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,680 shares of company stock valued at $4,773,724 in the last three months. Corporate insiders own 0.64% 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.