Grantham Mayo Van Otterloo & Co. LLC Raises Position in Nucor Co. (NYSE:NUE)

Grantham Mayo Van Otterloo & Co. LLC raised its stake in shares of Nucor Co. (NYSE:NUEGet Rating) by 288.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 212,102 shares of the basic materials company’s stock after purchasing an additional 157,439 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned 0.08% of Nucor worth $22,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. M Holdings Securities Inc. purchased a new stake in shares of Nucor in the first quarter worth approximately $328,000. Truist Financial Corp increased its holdings in Nucor by 11.0% during the 2nd quarter. Truist Financial Corp now owns 189,782 shares of the basic materials company’s stock worth $19,816,000 after purchasing an additional 18,881 shares during the period. StoneX Group Inc. increased its holdings in Nucor by 57.1% during the 2nd quarter. StoneX Group Inc. now owns 2,684 shares of the basic materials company’s stock worth $282,000 after purchasing an additional 976 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in Nucor by 61.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 104,072 shares of the basic materials company’s stock worth $10,903,000 after purchasing an additional 39,536 shares during the period. Finally, MGO One Seven LLC increased its holdings in Nucor by 59.9% during the 2nd quarter. MGO One Seven LLC now owns 6,117 shares of the basic materials company’s stock worth $639,000 after purchasing an additional 2,291 shares during the period. 79.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on NUE shares. Credit Suisse Group reduced their price objective on Nucor from $165.00 to $140.00 and set an “outperform” rating on the stock in a report on Friday, September 16th. The Goldman Sachs Group dropped their target price on Nucor from $127.00 to $114.00 and set a “neutral” rating on the stock in a research report on Thursday, October 6th. StockNews.com began coverage on Nucor in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Citigroup increased their target price on Nucor to $145.00 in a research report on Tuesday, September 13th. Finally, BMO Capital Markets increased their target price on Nucor from $113.00 to $142.00 and gave the company a “market perform” rating in a research report on Wednesday, November 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Nucor presently has a consensus rating of “Hold” and a consensus target price of $132.33.

Insiders Place Their Bets

In other Nucor news, EVP Gregory J. Murphy sold 3,000 shares of Nucor stock in a transaction dated Wednesday, October 26th. The stock was sold at an average price of $137.29, for a total transaction of $411,870.00. Following the completion of the sale, the executive vice president now owns 49,549 shares of the company’s stock, valued at approximately $6,802,582.21. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Nucor news, EVP Gregory J. Murphy sold 3,000 shares of Nucor stock in a transaction dated Wednesday, October 26th. The stock was sold at an average price of $137.29, for a total transaction of $411,870.00. Following the completion of the sale, the executive vice president now owns 49,549 shares of the company’s stock, valued at approximately $6,802,582.21. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John J. Hollatz sold 2,450 shares of Nucor stock in a transaction dated Monday, October 24th. The stock was sold at an average price of $134.40, for a total value of $329,280.00. Following the sale, the executive vice president now directly owns 52,282 shares of the company’s stock, valued at approximately $7,026,700.80. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by insiders.

Nucor Stock Down 1.6 %

Nucor stock opened at $149.73 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.10 and a quick ratio of 1.79. The stock has a market capitalization of $38.41 billion, a price-to-earnings ratio of 4.71 and a beta of 1.48. Nucor Co. has a 1-year low of $88.50 and a 1-year high of $187.90. The business has a fifty day moving average price of $125.56 and a 200-day moving average price of $125.64.

Nucor (NYSE:NUEGet Rating) last issued its quarterly earnings results on Thursday, October 20th. The basic materials company reported $6.50 EPS for the quarter, topping analysts’ consensus estimates of $6.45 by $0.05. Nucor had a return on equity of 51.03% and a net margin of 19.93%. The company had revenue of $10.50 billion during the quarter, compared to analysts’ expectations of $10.43 billion. During the same quarter in the previous year, the firm posted $7.28 EPS. The firm’s revenue was up 1.8% compared to the same quarter last year. Equities research analysts forecast that Nucor Co. will post 29.84 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Friday, September 30th were given a dividend of $0.50 per share. The ex-dividend date was Thursday, September 29th. This represents a $2.00 dividend on an annualized basis and a yield of 1.34%. Nucor’s dividend payout ratio is currently 6.29%.

Nucor Profile

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Nucor Corporation manufactures and sells steel and steel products. The company's 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 products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.

Further Reading

Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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