Massachusetts Financial Services Co. MA Has $138.90 Million Position in Nucor Corporation $NUE

Massachusetts Financial Services Co. MA reduced its holdings in shares of Nucor Corporation (NYSE:NUE) by 4.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 851,563 shares of the basic materials company’s stock after selling 37,427 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Nucor were worth $138,898,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Rosenberg Matthew Hamilton boosted its position in shares of Nucor by 3.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 2,011 shares of the basic materials company’s stock valued at $328,000 after acquiring an additional 69 shares in the last quarter. Whittier Trust Co. boosted its position in shares of Nucor by 5.6% during the 3rd quarter. Whittier Trust Co. now owns 1,330 shares of the basic materials company’s stock valued at $184,000 after acquiring an additional 70 shares in the last quarter. HUB Investment Partners LLC boosted its position in shares of Nucor by 1.9% during the 2nd quarter. HUB Investment Partners LLC now owns 4,099 shares of the basic materials company’s stock valued at $531,000 after acquiring an additional 75 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of Nucor by 23.2% during the 3rd quarter. Versant Capital Management Inc now owns 425 shares of the basic materials company’s stock valued at $58,000 after acquiring an additional 80 shares in the last quarter. Finally, True North Advisors LLC boosted its position in shares of Nucor by 3.9% during the 3rd quarter. True North Advisors LLC now owns 2,195 shares of the basic materials company’s stock valued at $297,000 after acquiring an additional 82 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Price Performance

Shares of NUE stock opened at $189.61 on Tuesday. Nucor Corporation has a 1 year low of $105.92 and a 1 year high of $196.90. The firm’s 50 day moving average is $175.53 and its 200-day moving average is $162.68. The firm has a market capitalization of $43.16 billion, a price-to-earnings ratio of 25.15, a PEG ratio of 0.66 and a beta of 1.73. The company has a current ratio of 2.94, a quick ratio of 1.57 and a debt-to-equity ratio of 0.31.

Nucor (NYSE:NUE) last announced its earnings results on Monday, January 26th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.18). Nucor had a return on equity of 8.26% and a net margin of 5.37%.The company had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the previous year, the company posted $1.22 earnings per share. Nucor’s revenue for the quarter was up 8.6% on a year-over-year basis. Sell-side analysts forecast that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 11th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, March 31st. Nucor’s payout ratio is 29.71%.

Nucor announced that its board has authorized a share buyback program on Friday, February 20th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the basic materials company to purchase up to 9.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NUE. BMO Capital Markets lifted their target price on shares of Nucor from $190.00 to $196.00 and gave the company an “outperform” rating in a research report on Tuesday, March 3rd. UBS Group raised shares of Nucor from a “neutral” rating to a “buy” rating and lifted their price target for the company from $184.00 to $190.00 in a report on Thursday, March 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Nucor in a report on Monday, December 29th. Wells Fargo & Company lifted their price target on shares of Nucor from $194.00 to $197.00 and gave the company an “overweight” rating in a report on Friday, March 20th. Finally, The Goldman Sachs Group initiated coverage on shares of Nucor in a report on Wednesday, April 1st. They set a “buy” rating and a $210.00 price target for the company. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $192.80.

Insider Buying and Selling

In related news, EVP Daniel R. Needham sold 3,881 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $178.00, for a total transaction of $690,818.00. Following the completion of the sale, the executive vice president directly owned 88,298 shares of the company’s stock, valued at $15,717,044. The trade was a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Allen C. Behr sold 7,568 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $188.50, for a total transaction of $1,426,568.00. Following the sale, the executive vice president directly owned 67,711 shares of the company’s stock, valued at approximately $12,763,523.50. This trade represents a 10.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 26,401 shares of company stock valued at $4,936,152 over the last ninety days. Insiders own 0.62% of the company’s stock.

Nucor Company Profile

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.