Wellington Management Group LLP Boosts Holdings in Nucor Co. (NYSE:NUE)

Wellington Management Group LLP grew its position in Nucor Co. (NYSE:NUE - Free Report) by 15.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 249,984 shares of the basic materials company's stock after purchasing an additional 34,149 shares during the period. Wellington Management Group LLP owned approximately 0.11% of Nucor worth $37,583,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. McClarren Financial Advisors Inc. increased its holdings in shares of Nucor by 129.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 89 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Nucor during the 3rd quarter valued at approximately $26,000. Coastline Trust Co acquired a new position in Nucor during the 3rd quarter valued at approximately $29,000. Brown Lisle Cummings Inc. acquired a new position in Nucor during the 3rd quarter valued at approximately $30,000. Finally, Salomon & Ludwin LLC boosted its position in Nucor by 45.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company's stock valued at $35,000 after purchasing an additional 72 shares during the period. 76.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Nucor

In related news, CEO Leon J. Topalian sold 11,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total value of $1,860,210.00. Following the sale, the chief executive officer now owns 172,136 shares of the company's stock, valued at $29,109,918.96. This trade represents a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stephen D. Laxton sold 4,712 shares of the stock in a transaction that occurred 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,680 shares of company stock worth $4,773,724. 0.46% of the stock is owned by insiders.

Nucor Stock Down 4.2 %

NYSE NUE traded down $5.49 during mid-day trading on Friday, reaching $125.92. The stock had a trading volume of 1,567,279 shares, compared to its average volume of 1,570,893. The stock has a market cap of $29.57 billion, a PE ratio of 12.36 and a beta of 1.55. 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 company has a fifty day moving average price of $149.65 and a 200 day moving average price of $151.83. Nucor Co. has a 1 year low of $125.78 and a 1 year high of $203.00.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.40 by $0.09. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The business's revenue was down 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.57 EPS. On average, research analysts expect that Nucor Co. will post 8.5 earnings per share for the current year.

Nucor Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Tuesday, December 31st will be paid a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Nucor's previous quarterly dividend of $0.54. This represents a $2.20 dividend on an annualized basis and a yield of 1.75%. Nucor's dividend payout ratio (DPR) is 20.87%.

Wall Street Analysts Forecast Growth

NUE has been the subject of a number of analyst reports. UBS Group reiterated a "neutral" rating and set a $156.00 price target (down previously from $171.00) on shares of Nucor in a research report on Thursday. The Goldman Sachs Group initiated coverage on Nucor in a research report on Monday, December 2nd. They set a "buy" rating and a $190.00 target price for the company. JPMorgan Chase & Co. dropped their price objective on Nucor from $170.00 to $168.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. Morgan Stanley dropped their price target on Nucor from $170.00 to $166.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. Finally, BMO Capital Markets lowered their price objective on Nucor from $175.00 to $160.00 and set a "market perform" rating on the stock in a research report on Wednesday, September 18th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $183.75.

Nucor Profile

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.