Nucor Corporation $NUE Position Increased by TD Private Client Wealth LLC

TD Private Client Wealth LLC raised its position in shares of Nucor Corporation (NYSE:NUE) by 19.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,653 shares of the basic materials company’s stock after buying an additional 264 shares during the quarter. TD Private Client Wealth LLC’s holdings in Nucor were worth $214,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Revisor Wealth Management LLC lifted its stake in Nucor by 14.1% during the second quarter. Revisor Wealth Management LLC now owns 3,747 shares of the basic materials company’s stock valued at $537,000 after buying an additional 463 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in Nucor during the second quarter valued at about $351,000. Farmers Trust Co. lifted its stake in Nucor by 12.5% during the second quarter. Farmers Trust Co. now owns 25,558 shares of the basic materials company’s stock valued at $3,311,000 after buying an additional 2,832 shares in the last quarter. Proathlete Wealth Management LLC purchased a new stake in Nucor during the second quarter valued at about $58,000. Finally, Matrix Trust Co lifted its stake in Nucor by 53.8% during the second quarter. Matrix Trust Co now owns 240 shares of the basic materials company’s stock valued at $31,000 after buying an additional 84 shares in the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Stock Up 2.5%

Shares of NUE stock opened at $138.13 on Monday. The stock has a market cap of $31.71 billion, a P/E ratio of 24.93, a price-to-earnings-growth ratio of 0.95 and a beta of 1.76. Nucor Corporation has a one year low of $97.59 and a one year high of $170.52. The stock has a fifty day moving average price of $142.54 and a 200 day moving average price of $128.77. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.83 and a quick ratio of 1.51.

Nucor (NYSE:NUE) last issued its earnings results on Monday, July 28th. The basic materials company reported $2.60 EPS for the quarter, topping the consensus estimate of $2.54 by $0.06. The firm had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.47 billion. Nucor had a return on equity of 6.65% and a net margin of 4.21%.Nucor’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business earned $2.68 earnings per share. Analysts predict that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 30th. Nucor’s dividend payout ratio (DPR) is 39.71%.

Insider Transactions at Nucor

In related news, EVP Daniel R. Needham sold 7,200 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $146.00, for a total value of $1,051,200.00. Following the completion of the transaction, the executive vice president directly owned 92,179 shares of the company’s stock, valued at $13,458,134. This trade represents a 7.24% 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 hyperlink. Also, EVP Kenneth Rex Query sold 10,000 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $144.90, for a total value of $1,449,000.00. Following the completion of the transaction, the executive vice president directly owned 84,080 shares of the company’s stock, valued at approximately $12,183,192. This trade represents a 10.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,309 shares of company stock valued at $4,553,771 in the last ninety days. 0.71% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Bank of America upped their price objective on shares of Nucor from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Morgan Stanley upped their target price on Nucor from $134.00 to $149.00 and gave the company an “overweight” rating in a report on Friday, June 20th. Jefferies Financial Group upgraded Nucor from a “hold” rating to a “buy” rating and upped their target price for the company from $135.00 to $170.00 in a report on Thursday, July 31st. BMO Capital Markets upgraded Nucor from a “market perform” rating to an “outperform” rating and upped their target price for the company from $140.00 to $145.00 in a report on Monday, June 2nd. Finally, JPMorgan Chase & Co. upped their target price on Nucor from $143.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, July 14th. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $156.60.

About Nucor

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.