Nucor Corporation (NUE) Shares Bought by Toronto Dominion Bank
Toronto Dominion Bank boosted its stake in Nucor Corporation (NYSE:NUE) by 25.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 109,074 shares of the basic materials company’s stock after buying an additional 22,003 shares during the quarter. Toronto Dominion Bank’s holdings in Nucor Corporation were worth $6,310,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Mckinley Capital Management LLC Delaware purchased a new stake in Nucor Corporation in the 2nd quarter worth approximately $100,000. Krilogy Financial LLC lifted its position in Nucor Corporation by 4,594.6% in the 2nd quarter. Krilogy Financial LLC now owns 1,737 shares of the basic materials company’s stock worth $101,000 after buying an additional 1,700 shares in the last quarter. Washington Trust Bank lifted its position in Nucor Corporation by 60.2% in the 2nd quarter. Washington Trust Bank now owns 1,756 shares of the basic materials company’s stock worth $102,000 after buying an additional 660 shares in the last quarter. Fiduciary Trust Co. purchased a new stake in Nucor Corporation in the 2nd quarter worth approximately $109,000. Finally, Sun Life Financial INC lifted its position in Nucor Corporation by 23,290.0% in the 2nd quarter. Sun Life Financial INC now owns 2,339 shares of the basic materials company’s stock worth $135,000 after buying an additional 2,329 shares in the last quarter. Institutional investors own 74.83% of the company’s stock.
Several brokerages have recently commented on NUE. Jefferies Group LLC restated a “buy” rating and set a $68.00 price target on shares of Nucor Corporation in a research note on Friday, October 6th. Longbow Research lowered shares of Nucor Corporation from a “buy” rating to a “neutral” rating and increased their price target for the stock from $55.01 to $56.04 in a research note on Monday, October 2nd. Credit Suisse Group dropped their price target on shares of Nucor Corporation from $68.00 to $63.00 and set a “buy” rating on the stock in a research note on Thursday, September 28th. Zacks Investment Research lowered shares of Nucor Corporation from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 26th. Finally, KeyCorp restated a “hold” rating on shares of Nucor Corporation in a research note on Tuesday, September 19th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $67.13.
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Nucor Corporation (NYSE NUE) traded down 1.61% during mid-day trading on Thursday, reaching $56.36. 460,236 shares of the company’s stock traded hands. Nucor Corporation has a 1-year low of $45.30 and a 1-year high of $68.00. The firm has a market cap of $18.00 billion, a PE ratio of 15.82 and a beta of 1.54. The firm has a 50 day moving average of $55.43 and a 200 day moving average of $57.49.
Nucor Corporation (NYSE:NUE) last released its quarterly earnings data on Thursday, July 20th. The basic materials company reported $1.00 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.06). Nucor Corporation had a net margin of 6.08% and a return on equity of 13.39%. The company had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.08 billion. During the same quarter in the prior year, the firm earned $0.73 earnings per share. Nucor Corporation’s revenue for the quarter was up 21.9% on a year-over-year basis. Analysts forecast that Nucor Corporation will post $3.79 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Friday, September 29th will be issued a $0.3775 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.51 annualized dividend and a dividend yield of 2.64%. Nucor Corporation’s dividend payout ratio is currently 43.77%.
In other Nucor Corporation news, Chairman John J. Ferriola sold 14,941 shares of the company’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $60.17, for a total value of $898,999.97. Following the transaction, the chairman now directly owns 361,847 shares in the company, valued at $21,772,333.99. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Leon J. Topalian sold 2,626 shares of the company’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $60.23, for a total transaction of $158,163.98. Following the completion of the transaction, the insider now owns 19,610 shares in the company, valued at $1,181,110.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,604 shares of company stock worth $1,351,495. Corporate insiders own 0.70% of the company’s stock.
About Nucor Corporation
Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).
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