Wellington Management Group LLP Has $11.76 Million Stake in Nucor Corporation $NUE

Wellington Management Group LLP lowered its holdings in Nucor Corporation (NYSE:NUE) by 76.6% during the second quarter, Holdings Channel.com reports. The firm owned 52,813 shares of the basic materials company’s stock after selling 172,748 shares during the period. Wellington Management Group LLP’s holdings in Nucor were worth $11,764,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. increased its position in Nucor by 745.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 83,463 shares of the basic materials company’s stock valued at $13,614,000 after acquiring an additional 73,588 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Nucor by 19.3% in the first quarter. California Public Employees Retirement System now owns 510,331 shares of the basic materials company’s stock worth $86,297,000 after acquiring an additional 82,668 shares during the last quarter. Pacific Heights Asset Management LLC lifted its position in shares of Nucor by 12.9% during the fourth quarter. Pacific Heights Asset Management LLC now owns 175,000 shares of the basic materials company’s stock worth $28,544,000 after purchasing an additional 20,000 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in shares of Nucor during the fourth quarter valued at approximately $23,804,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Nucor by 1.7% during the first quarter. Bank of New York Mellon Corp now owns 1,809,899 shares of the basic materials company’s stock valued at $306,054,000 after purchasing an additional 29,476 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Insiders Place Their Bets

In related news, COO Stephen D. Laxton sold 3,968 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total value of $1,019,617.28. Following the completion of the sale, the chief operating officer owned 77,867 shares in the company, valued at $20,008,704.32. This represents a 4.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Thomas J. Batterbee sold 4,000 shares of Nucor stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $261.02, for a total value of $1,044,080.00. Following the transaction, the executive vice president owned 16,138 shares in the company, valued at approximately $4,212,340.76. This represents a 19.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.62% of the company’s stock.

Nucor Trading Down 0.0%

NYSE:NUE opened at $260.98 on Tuesday. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. Nucor Corporation has a 1-year low of $131.32 and a 1-year high of $280.11. The firm has a market capitalization of $59.21 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 0.97 and a beta of 1.87. The business’s 50-day moving average price is $248.81 and its two-hundred day moving average price is $222.15.

Nucor (NYSE:NUE) last posted its earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.46 by $0.38. The company had revenue of $10.40 billion during the quarter, compared to analyst estimates of $10.15 billion. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The company’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.60 EPS. On average, equities analysts expect that Nucor Corporation will post 17.95 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Nucor from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 25th. Zacks Research lowered Nucor from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Seaport Research Partners lifted their target price on Nucor from $245.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. JPMorgan Chase & Co. boosted their target price on Nucor from $240.00 to $282.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 10th. Finally, BMO Capital Markets upped their price target on Nucor from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $272.38.

Nucor 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.