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

Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in shares of Nucor Corporation (NYSE:NUE) by 1.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 214,110 shares of the basic materials company’s stock after purchasing an additional 2,975 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned approximately 0.09% of Nucor worth $28,997,000 at the end of the most recent reporting period.

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

Nucor Stock Down 2.0%

Shares of NYSE:NUE opened at $168.58 on Monday. The company has a market capitalization of $38.40 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 0.61 and a beta of 1.83. Nucor Corporation has a 12-month low of $97.59 and a 12-month high of $196.90. The business has a 50-day moving average price of $176.90 and a 200 day moving average price of $157.86. 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 posted its earnings results on Monday, January 26th. The basic materials company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.18). The company had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.93 billion. Nucor had a net margin of 5.37% and a return on equity of 8.26%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.22 EPS. Sell-side analysts expect that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Tuesday, March 31st. Nucor’s dividend payout ratio is currently 29.71%.

Nucor announced that its Board of Directors has authorized a share buyback plan on Friday, February 20th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the basic materials company to purchase up to 9.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts have issued reports on NUE shares. Jefferies Financial Group increased their price objective on shares of Nucor from $190.00 to $200.00 and gave the company a “buy” rating in a report on Monday, January 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Nucor in a research note on Monday, December 29th. Morgan Stanley restated an “equal weight” rating and set a $180.00 price target (up from $165.00) on shares of Nucor in a research report on Friday, January 9th. BMO Capital Markets lifted their price objective on Nucor from $190.00 to $196.00 and gave the stock an “outperform” rating in a report on Tuesday, March 3rd. Finally, Wall Street Zen lowered Nucor from a “buy” rating to a “hold” rating in a research note on Saturday. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $187.90.

Insider Activity at Nucor

In other Nucor news, EVP Kenneth Rex Query sold 7,452 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $196.02, for a total value of $1,460,741.04. Following the sale, the executive vice president owned 76,628 shares of the company’s stock, valued at $15,020,620.56. The trade was a 8.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Daniel R. Needham sold 3,881 shares of the company’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $178.00, for a total value of $690,818.00. Following the transaction, the executive vice president owned 88,298 shares in the company, valued at $15,717,044. This trade represents a 4.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 34,351 shares of company stock valued at $6,206,158. 0.71% of the stock is owned by insiders.

About Nucor

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.