Nucor Corporation (NUE) Shares Sold by Wellington Management Group LLP
Wellington Management Group LLP reduced its position in shares of Nucor Corporation (NYSE:NUE) by 46.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,436,352 shares of the basic materials company’s stock after selling 1,258,876 shares during the period. Wellington Management Group LLP owned 0.45% of Nucor Corporation worth $85,778,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the stock. Advantage Investment Management LLC raised its position in shares of Nucor Corporation by 164.9% in the first quarter. Advantage Investment Management LLC now owns 1,854 shares of the basic materials company’s stock worth $111,000 after buying an additional 1,154 shares during the period. Ledyard National Bank acquired a new position in shares of Nucor Corporation during the first quarter worth approximately $122,000. Massmutual Trust Co. FSB ADV raised its position in shares of Nucor Corporation by 0.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,147 shares of the basic materials company’s stock worth $128,000 after buying an additional 15 shares during the period. Feltz Wealth PLAN Inc. acquired a new position in shares of Nucor Corporation during the first quarter worth approximately $146,000. Finally, Parallel Advisors LLC acquired a new position in shares of Nucor Corporation during the fourth quarter worth approximately $150,000. Hedge funds and other institutional investors own 77.43% of the company’s stock.
Shares of Nucor Corporation (NUE) traded up 0.59% on Friday, hitting $54.92. 4,723,981 shares of the stock were exchanged. The company has a market cap of $17.52 billion, a PE ratio of 16.55 and a beta of 1.52. The company has a 50-day moving average price of $58.54 and a 200 day moving average price of $60.54. Nucor Corporation has a 12 month low of $44.81 and a 12 month high of $68.00.
Nucor Corporation (NYSE:NUE) last released its quarterly earnings data on Thursday, April 20th. The basic materials company reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by $0.03. The firm had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.67 billion. Nucor Corporation had a net margin of 5.90% and a return on equity of 12.63%. The firm’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.27 earnings per share. Equities analysts forecast that Nucor Corporation will post $4.42 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 11th. Shareholders of record on Friday, June 30th will be paid a dividend of $0.3775 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $1.51 dividend on an annualized basis and a yield of 2.75%. Nucor Corporation’s dividend payout ratio is currently 47.48%.
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NUE has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Nucor Corporation from a “hold” rating to a “strong-buy” rating and set a $69.00 price target on the stock in a report on Tuesday, March 28th. BMO Capital Markets reiterated a “hold” rating on shares of Nucor Corporation in a report on Friday, April 21st. ValuEngine lowered shares of Nucor Corporation from a “buy” rating to a “hold” rating in a report on Friday. Jefferies Group LLC reiterated a “buy” rating and set a $75.00 price target (down previously from $77.00) on shares of Nucor Corporation in a report on Wednesday, April 19th. Finally, Barclays PLC reiterated a “buy” rating and set a $73.00 price target on shares of Nucor Corporation in a report on Friday, May 5th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $68.97.
In other Nucor Corporation news, Director Victoria F. Haynes sold 3,000 shares of the firm’s stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $61.52, for a total transaction of $184,560.00. Following the completion of the sale, the director now directly owns 33,703 shares in the company, valued at approximately $2,073,408.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman John J. Ferriola sold 12,232 shares of the firm’s stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $61.60, for a total transaction of $753,491.20. Following the sale, the chairman now owns 349,855 shares of the company’s stock, valued at $21,551,068. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by company insiders.
Nucor Corporation Company Profile
Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).
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