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

Wellington Management Group LLP lifted its position in Nucor Co. (NYSE:NUE) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 251,364 shares of the basic materials company’s stock after purchasing an additional 1,380 shares during the quarter. Wellington Management Group LLP owned approximately 0.11% of Nucor worth $29,337,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Crews Bank & Trust purchased a new position in shares of Nucor during the fourth quarter worth approximately $29,000. New Wave Wealth Advisors LLC purchased a new position in Nucor during the 4th quarter worth $33,000. Versant Capital Management Inc increased its stake in Nucor by 60.3% in the fourth quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 114 shares during the period. Beacon Capital Management LLC raised its holdings in shares of Nucor by 29.1% in the fourth quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company’s stock valued at $49,000 after buying an additional 94 shares during the last quarter. Finally, Millstone Evans Group LLC acquired a new stake in shares of Nucor during the fourth quarter worth about $50,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analyst Ratings Changes

NUE has been the subject of several analyst reports. UBS Group raised Nucor from a “neutral” rating to a “buy” rating and upped their price objective for the company from $156.00 to $160.00 in a research note on Monday, March 24th. StockNews.com raised Nucor from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. Argus set a $155.00 price objective on shares of Nucor in a research report on Wednesday, March 5th. JPMorgan Chase & Co. raised their target price on shares of Nucor from $150.00 to $156.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Finally, Jefferies Financial Group boosted their price target on shares of Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.44.

Nucor Trading Down 6.1 %

Shares of NUE opened at $103.14 on Monday. Nucor Co. has a twelve month low of $95.70 and a twelve month high of $203.00. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $23.78 billion, a P/E ratio of 12.26, a PEG ratio of 0.96 and a beta of 1.67. The firm’s 50-day moving average is $130.19 and its two-hundred day moving average is $136.31.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.28. Nucor had a return on equity of 9.85% and a net margin of 6.60%. During the same period in the previous year, the company posted $3.16 EPS. On average, research analysts predict that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Monday, March 31st. Nucor’s dividend payout ratio (DPR) is presently 26.16%.

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.