Nucor Co. (NYSE:NUE) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank reduced its position in Nucor Co. (NYSE:NUE) by 15.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 117,167 shares of the basic materials company’s stock after selling 21,587 shares during the quarter. Toronto Dominion Bank’s holdings in Nucor were worth $18,522,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in shares of Nucor by 2.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,909,388 shares of the basic materials company’s stock valued at $617,915,000 after buying an additional 84,558 shares during the last quarter. Pacer Advisors Inc. grew its stake in Nucor by 29.7% during the 2nd quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock valued at $456,030,000 after acquiring an additional 660,866 shares in the last quarter. First Trust Advisors LP raised its holdings in Nucor by 6.7% in the 4th quarter. First Trust Advisors LP now owns 1,367,209 shares of the basic materials company’s stock valued at $237,949,000 after acquiring an additional 85,475 shares during the last quarter. Nordea Investment Management AB raised its holdings in Nucor by 6.5% in the 1st quarter. Nordea Investment Management AB now owns 1,165,094 shares of the basic materials company’s stock valued at $230,572,000 after acquiring an additional 70,917 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its stake in Nucor by 11.6% in the 2nd quarter. Hsbc Holdings PLC now owns 1,069,920 shares of the basic materials company’s stock worth $169,433,000 after purchasing an additional 111,177 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on NUE shares. Morgan Stanley dropped their price target on Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a research report on Wednesday, September 18th. BMO Capital Markets dropped their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. Argus upgraded Nucor to a “strong-buy” rating in a report on Monday, August 26th. JPMorgan Chase & Co. raised shares of Nucor from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $170.00 to $174.00 in a report on Monday, September 9th. Finally, Bank of America cut their price objective on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $192.00.

Insider Activity

In related news, EVP Daniel R. Needham sold 8,624 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the transaction, the executive vice president now owns 99,049 shares of the company’s stock, valued at approximately $15,847,840. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.46% of the company’s stock.

Nucor Stock Up 1.1 %

Shares of NUE opened at $150.53 on Friday. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26. The firm has a market cap of $36.09 billion, a P/E ratio of 8.85 and a beta of 1.55. The company’s 50-day moving average price is $148.69 and its 200 day moving average price is $165.25. Nucor Co. has a 12-month low of $133.42 and a 12-month high of $203.00.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, topping the consensus estimate of $2.31 by $0.37. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The firm had revenue of $8.08 billion for the quarter, compared to analyst estimates of $7.69 billion. During the same period in the prior year, the business posted $5.81 EPS. The business’s revenue for the quarter was down 15.2% compared to the same quarter last year. On average, sell-side analysts forecast that Nucor Co. will post 9.28 earnings per share for the current year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be paid a $0.54 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.43%. Nucor’s payout ratio is presently 12.71%.

Nucor Profile

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The 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 structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.