TD Asset Management Inc. boosted its position in shares of Nucor Co. (NYSE:NUE) by 12.6% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 490,929 shares of the basic materials company’s stock after acquiring an additional 54,867 shares during the quarter. TD Asset Management Inc.’s holdings in Nucor were worth $27,050,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Berman Capital Advisors LLC lifted its holdings in shares of Nucor by 37.9% in the 1st quarter. Berman Capital Advisors LLC now owns 677 shares of the basic materials company’s stock valued at $39,000 after buying an additional 186 shares during the period. Delta Asset Management LLC TN lifted its holdings in shares of Nucor by 20.5% in the 2nd quarter. Delta Asset Management LLC TN now owns 1,141 shares of the basic materials company’s stock valued at $63,000 after buying an additional 194 shares during the period. CWM LLC lifted its holdings in shares of Nucor by 26.8% in the 1st quarter. CWM LLC now owns 922 shares of the basic materials company’s stock valued at $54,000 after buying an additional 195 shares during the period. Empirical Finance LLC lifted its holdings in shares of Nucor by 1.0% in the 2nd quarter. Empirical Finance LLC now owns 22,451 shares of the basic materials company’s stock valued at $1,237,000 after buying an additional 227 shares during the period. Finally, Raymond James Trust N.A. lifted its holdings in shares of Nucor by 2.6% in the 1st quarter. Raymond James Trust N.A. now owns 9,823 shares of the basic materials company’s stock valued at $573,000 after buying an additional 246 shares during the period. 75.83% of the stock is owned by institutional investors.
NYSE:NUE traded up $1.06 during trading hours on Friday, hitting $48.77. 35,118 shares of the stock were exchanged, compared to its average volume of 2,110,374. Nucor Co. has a 52-week low of $47.13 and a 52-week high of $66.03. The firm’s fifty day moving average price is $54.13 and its 200 day moving average price is $56.10. The company has a current ratio of 3.56, a quick ratio of 1.76 and a debt-to-equity ratio of 0.40. The company has a market cap of $15.21 billion, a P/E ratio of 6.33, a P/E/G ratio of 0.86 and a beta of 1.61.
Nucor (NYSE:NUE) last posted its quarterly earnings data on Thursday, July 18th. The basic materials company reported $1.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.01. Nucor had a return on equity of 21.65% and a net margin of 8.84%. The company had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6 billion. During the same period in the previous year, the business earned $2.07 EPS. Nucor’s quarterly revenue was down 8.7% on a year-over-year basis. Equities analysts expect that Nucor Co. will post 4.89 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, June 28th were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.28%. Nucor’s dividend payout ratio (DPR) is presently 21.00%.
Several equities analysts have recently issued reports on NUE shares. Credit Suisse Group set a $61.00 price objective on Nucor and gave the company a “buy” rating in a report on Friday, July 19th. Deutsche Bank cut Nucor from a “buy” rating to a “hold” rating in a report on Thursday, May 30th. KeyCorp decreased their price objective on Nucor from $66.00 to $61.00 and set an “overweight” rating for the company in a report on Monday, June 17th. Bank of America cut Nucor from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $68.00 to $50.00 in a report on Friday, May 31st. Finally, Citigroup set a $60.00 price objective on Nucor and gave the company a “buy” rating in a report on Tuesday, June 11th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $62.90.
In other news, EVP Leon J. Topalian sold 5,798 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $56.47, for a total value of $327,413.06. Following the completion of the sale, the executive vice president now directly owns 93,559 shares in the company, valued at $5,283,276.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Raymond S. Napolitan, Jr. sold 7,214 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $56.32, for a total value of $406,292.48. Following the completion of the sale, the insider now owns 143,826 shares of the company’s stock, valued at $8,100,280.32. The disclosure for this sale can be found here. Insiders sold 61,203 shares of company stock valued at $3,465,601 over the last 90 days. Company insiders own 0.96% of the company’s stock.
Nucor Company Profile
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
Further Reading: Trade War
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