Nucor Co. (NYSE:NUE) Position Raised by Wellington Management Group LLP

Wellington Management Group LLP raised its stake in Nucor Co. (NYSE:NUE) by 0.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 251,364 shares of the basic materials company’s stock after buying an additional 1,380 shares during the quarter. Wellington Management Group LLP owned approximately 0.11% of Nucor worth $29,337,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC increased its holdings in shares of Nucor by 6.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 2,542 shares of the basic materials company’s stock valued at $297,000 after purchasing an additional 152 shares during the period. Blue Trust Inc. grew its holdings in Nucor by 20.3% during the fourth quarter. Blue Trust Inc. now owns 3,845 shares of the basic materials company’s stock worth $449,000 after acquiring an additional 648 shares during the period. R Squared Ltd acquired a new position in Nucor during the fourth quarter worth about $84,000. Crews Bank & Trust acquired a new position in Nucor during the fourth quarter worth about $29,000. Finally, TCI Wealth Advisors Inc. grew its holdings in Nucor by 4.4% during the fourth quarter. TCI Wealth Advisors Inc. now owns 2,157 shares of the basic materials company’s stock worth $252,000 after acquiring an additional 91 shares during the period. 76.48% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Leon J. Topalian sold 34,238 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $120.19, for a total value of $4,115,065.22. Following the completion of the sale, the chief executive officer now directly owns 162,993 shares in the company, valued at approximately $19,590,128.67. The trade was a 17.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is owned by corporate insiders.

Nucor Stock Up 0.3%

Shares of Nucor stock opened at $109.30 on Friday. The firm has a market cap of $25.22 billion, a price-to-earnings ratio of 13.00, a P/E/G ratio of 0.96 and a beta of 1.73. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48. Nucor Co. has a 52-week low of $97.59 and a 52-week high of $170.52. The stock has a 50-day simple moving average of $114.02 and a 200-day simple moving average of $125.76.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, April 28th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.15). The firm had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.25 billion. Nucor had a net margin of 6.60% and a return on equity of 9.85%. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.46 earnings per share. On average, equities research analysts expect that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NUE has been the topic of a number of analyst reports. Wall Street Zen cut Nucor from a “hold” rating to a “sell” rating in a research note on Wednesday, April 30th. UBS Group dropped their price target on Nucor from $153.00 to $147.00 and set a “buy” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. dropped their price target on Nucor from $156.00 to $140.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. The Goldman Sachs Group dropped their price target on Nucor from $175.00 to $169.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Finally, Morgan Stanley set a $164.00 price objective on Nucor in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Nucor currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.89.

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.