Wellington Management Group LLP Sells 58,499 Shares of Nucor Co. (NYSE:NUE)

Wellington Management Group LLP lowered its stake in Nucor Co. (NYSE:NUEFree Report) by 72.3% in the third quarter, Holdings Channel.com reports. The institutional investor 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 large investors also recently made changes to their positions in NUE. Moneta Group Investment Advisors LLC lifted its holdings in Nucor by 127,059.1% in 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 raised its position in shares of Nucor by 0.4% in the first quarter. Geode Capital Management LLC now owns 5,438,353 shares of the basic materials company’s stock valued at $841,209,000 after purchasing an additional 23,366 shares during the period. Morgan Stanley lifted its stake in shares of Nucor by 30.0% in the fourth quarter. Morgan Stanley now owns 4,247,626 shares of the basic materials company’s stock worth $559,880,000 after buying an additional 979,824 shares during the last quarter. Northern Trust Corp boosted its holdings 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 buying an additional 149,589 shares during the period. Finally, Invesco Ltd. grew its stake in Nucor by 7.6% in the 3rd quarter. Invesco Ltd. now owns 2,262,832 shares of the basic materials company’s stock valued at $353,794,000 after buying an additional 159,230 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Insider Buying and Selling at Nucor

In other news, EVP Allen C. Behr sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total value of $1,901,900.00. Following the sale, the executive vice president now owns 80,902 shares of the company’s stock, valued at approximately $15,386,751.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Allen C. Behr sold 10,000 shares of Nucor stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total value of $1,901,900.00. Following the completion of the transaction, the executive vice president now owns 80,902 shares in the company, valued at $15,386,751.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael D. Keller sold 3,145 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the sale, the insider now owns 24,873 shares in the company, valued at $4,817,153.91. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,151 shares of company stock valued at $7,308,683. 0.46% of the stock is currently owned by company insiders.

Nucor Price Performance

NYSE:NUE opened at $194.08 on Wednesday. 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 company has a 50-day moving average of $184.05 and a 200-day moving average of $168.54. Nucor Co. has a 52 week low of $129.79 and a 52 week high of $198.61. The company 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 announced its quarterly earnings results on Monday, January 29th. The basic materials company reported $3.16 EPS for the quarter, topping 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 firm had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.64 billion. During the same quarter last year, the company earned $4.89 earnings per share. The company’s revenue for the quarter was down 11.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Nucor Co. will post 14.03 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.16 annualized dividend and a yield of 1.11%. Nucor’s dividend payout ratio is currently 12.01%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on NUE shares. JPMorgan Chase & Co. boosted their target price on shares of Nucor from $151.00 to $158.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 12th. Citigroup raised Nucor from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. UBS Group initiated coverage on Nucor in a research report on Tuesday, January 16th. They issued a “buy” rating and a $210.00 price target on the stock. Finally, StockNews.com cut Nucor from a “buy” rating to a “hold” rating in a research report on Wednesday, March 13th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Nucor currently has a consensus rating of “Hold” and an average target price of $186.67.

Check Out Our Latest Research Report on NUE

Nucor Company Profile

(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

Want to see what other hedge funds are holding NUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nucor Co. (NYSE:NUEFree Report).

Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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