Grantham Mayo Van Otterloo & Co. LLC Increases Stock Holdings in Nucor Corporation $NUE

Grantham Mayo Van Otterloo & Co. LLC raised its position in Nucor Corporation (NYSE:NUE) by 1.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 214,110 shares of the basic materials company’s stock after acquiring an additional 2,975 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Nucor were worth $28,997,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Nucor by 0.7% during the second quarter. Vanguard Group Inc. now owns 29,171,068 shares of the basic materials company’s stock worth $3,778,820,000 after purchasing an additional 211,741 shares in the last quarter. State Street Corp grew its holdings in shares of Nucor by 3.1% in the second quarter. State Street Corp now owns 12,501,779 shares of the basic materials company’s stock valued at $1,626,321,000 after purchasing an additional 371,911 shares in the last quarter. Berkshire Hathaway Inc purchased a new stake in Nucor during the 2nd quarter worth approximately $856,792,000. Norges Bank purchased a new stake in Nucor during the 2nd quarter worth approximately $479,858,000. Finally, Nordea Investment Management AB lifted its holdings in Nucor by 2.0% during the 3rd quarter. Nordea Investment Management AB now owns 1,892,423 shares of the basic materials company’s stock worth $255,155,000 after buying an additional 36,323 shares in the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Stock Down 2.0%

Shares of NYSE NUE opened at $168.58 on Monday. The business has a 50-day moving average price of $176.90 and a 200 day moving average price of $157.86. The stock has a market cap of $38.40 billion, a PE ratio of 22.36, a price-to-earnings-growth ratio of 0.61 and a beta of 1.83. The company has a quick ratio of 1.57, a current ratio of 2.94 and a debt-to-equity ratio of 0.31. Nucor Corporation has a 52-week low of $97.59 and a 52-week high of $196.90.

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

Nucor announced that its Board of Directors has authorized a stock repurchase 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 buy up to 9.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 11th. Stockholders of record on Tuesday, March 31st will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, March 31st. Nucor’s payout ratio is presently 29.71%.

Insider Buying and Selling at Nucor

In related news, EVP Daniel R. Needham sold 3,881 shares of the company’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $178.00, for a total value of $690,818.00. Following the completion of the sale, the executive vice president owned 88,298 shares in the company, valued at $15,717,044. This represents a 4.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Allen C. Behr sold 7,568 shares of the stock in a transaction 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 owned 67,711 shares of the company’s stock, valued at approximately $12,763,523.50. This represents a 10.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 34,351 shares of company stock valued at $6,206,158. Insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on NUE. JPMorgan Chase & Co. raised their price target on shares of Nucor from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, December 5th. Morgan Stanley reiterated an “equal weight” rating and issued a $180.00 price objective (up from $165.00) on shares of Nucor in a research note on Friday, January 9th. BNP Paribas Exane lifted their target price on Nucor from $165.00 to $185.00 and gave the company an “outperform” rating in a report on Friday, January 2nd. Wells Fargo & Company boosted their target price on Nucor from $184.00 to $194.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. Finally, UBS Group downgraded Nucor from a “buy” rating to a “neutral” rating and set a $183.00 price target on the stock. in a report on Wednesday, January 28th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Nucor presently has a consensus rating of “Moderate Buy” and an average price target of $187.90.

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.