Nucor Co. (NUE) Position Lessened by TD Asset Management Inc.

TD Asset Management Inc. lessened its holdings in Nucor Co. (NYSE:NUE) by 0.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 436,062 shares of the basic materials company’s stock after selling 360 shares during the quarter. TD Asset Management Inc.’s holdings in Nucor were worth $25,444,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of NUE. Oregon Public Employees Retirement Fund raised its position in shares of Nucor by 5,010.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,498,507 shares of the basic materials company’s stock worth $87,000 after buying an additional 4,410,481 shares in the last quarter. Norges Bank purchased a new stake in shares of Nucor in the fourth quarter worth $176,620,000. Millennium Management LLC raised its position in shares of Nucor by 269.4% in the fourth quarter. Millennium Management LLC now owns 2,073,142 shares of the basic materials company’s stock worth $107,409,000 after buying an additional 1,511,854 shares in the last quarter. Vanguard Group Inc raised its position in shares of Nucor by 4.4% in the third quarter. Vanguard Group Inc now owns 28,321,567 shares of the basic materials company’s stock worth $1,797,003,000 after buying an additional 1,186,099 shares in the last quarter. Finally, PGGM Investments raised its position in shares of Nucor by 365.9% in the first quarter. PGGM Investments now owns 1,039,812 shares of the basic materials company’s stock worth $60,673,000 after buying an additional 816,634 shares in the last quarter. Institutional investors own 77.39% of the company’s stock.

In other news, Chairman John J. Ferriola sold 65,061 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $56.20, for a total transaction of $3,656,428.20. Following the transaction, the chairman now directly owns 403,735 shares of the company’s stock, valued at $22,689,907. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Raymond S. Napolitan, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $58.28, for a total value of $582,800.00. Following the transaction, the insider now directly owns 96,778 shares in the company, valued at $5,640,221.84. The disclosure for this sale can be found here. Insiders have sold 76,314 shares of company stock worth $4,310,637 over the last ninety days. Insiders own 0.96% of the company’s stock.

A number of equities research analysts recently issued reports on the company. Zacks Investment Research downgraded Nucor from a “hold” rating to a “strong sell” rating in a research report on Friday, February 1st. UBS Group set a $59.00 price objective on Nucor and gave the stock a “hold” rating in a research report on Wednesday, May 8th. KeyCorp lowered their price objective on Nucor from $70.00 to $66.00 and set an “overweight” rating on the stock in a research report on Wednesday. ValuEngine upgraded Nucor from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Finally, Longbow Research cut Nucor from a “buy” rating to a “neutral” rating in a research note on Monday, March 11th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $69.25.

NUE traded up $0.28 during trading on Friday, reaching $51.67. The stock had a trading volume of 21,643 shares, compared to its average volume of 2,213,731. The stock has a market cap of $15.80 billion, a PE ratio of 6.79, a P/E/G ratio of 0.78 and a beta of 1.46. The company has a quick ratio of 1.64, a current ratio of 3.37 and a debt-to-equity ratio of 0.40. Nucor Co. has a one year low of $49.79 and a one year high of $68.84.

Nucor (NYSE:NUE) last released its earnings results on Tuesday, April 23rd. The basic materials company reported $1.55 EPS for the quarter, beating the Zacks’ consensus estimate of $1.50 by $0.05. The business had revenue of $6.10 billion for the quarter, compared to analysts’ expectations of $6.05 billion. Nucor had a return on equity of 24.86% and a net margin of 9.80%. The firm’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.17 earnings per share. As a group, equities analysts anticipate that Nucor Co. will post 5.74 earnings per share for the current year.

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Nucor 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: What is diluted earnings per share (Diluted EPS)?

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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