Toronto Dominion Bank Boosts Holdings in Nucor Co. (NYSE:NUE)

Toronto Dominion Bank grew its stake in Nucor Co. (NYSE:NUE - Free Report) by 6.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 125,280 shares of the basic materials company's stock after acquiring an additional 7,834 shares during the quarter. Toronto Dominion Bank owned 0.05% of Nucor worth $14,621,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Nucor in the 4th quarter valued at about $25,000. Crews Bank & Trust bought a new stake in Nucor during the 4th quarter worth approximately $29,000. New Wave Wealth Advisors LLC bought a new stake in Nucor during the 4th quarter worth approximately $33,000. Fourth Dimension Wealth LLC bought a new stake in Nucor during the 4th quarter worth approximately $41,000. Finally, Beacon Capital Management LLC increased its stake in Nucor by 29.1% during the 4th quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company's stock worth $49,000 after purchasing an additional 94 shares in the last quarter. 76.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NUE. The Goldman Sachs Group lowered their target price on Nucor from $175.00 to $169.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Wall Street Zen cut shares of Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. UBS Group decreased their price target on shares of Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a research note on Thursday. Argus set a $155.00 price target on shares of Nucor in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. cut their price objective on Nucor from $156.00 to $140.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $158.89.

Nucor Price Performance

Shares of NYSE NUE traded up $0.36 during mid-day trading on Friday, reaching $109.30. The company had a trading volume of 3,371,202 shares, compared to its average volume of 2,144,807. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51. Nucor Co. has a one year low of $97.59 and a one year high of $170.52. The firm has a market cap of $25.22 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 0.96 and a beta of 1.73. The business's 50-day simple moving average is $114.38 and its 200 day simple moving average is $126.07.

Nucor (NYSE:NUE - Get Free Report) last released its earnings results on Monday, April 28th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.15). The business had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.25 billion. Nucor had a net margin of 6.60% and a return on equity of 9.85%. The business's revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.46 EPS. On average, research analysts predict that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Nucor

In other news, CEO Leon J. Topalian sold 34,238 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $120.19, for a total transaction of $4,115,065.22. Following the transaction, the chief executive officer now directly owns 162,993 shares of the company's stock, valued at $19,590,128.67. This represents a 17.36% 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 link. Insiders own 0.46% of the company's stock.

Nucor Company 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.