Nucor Corporation $NUE Stock Bought by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. boosted its holdings in shares of Nucor Corporation (NYSE:NUE) by 32.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,090 shares of the basic materials company’s stock after purchasing an additional 5,214 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Nucor were worth $4,978,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. California Public Employees Retirement System grew its stake in Nucor by 19.3% in the 1st quarter. California Public Employees Retirement System now owns 510,331 shares of the basic materials company’s stock valued at $86,297,000 after acquiring an additional 82,668 shares during the period. Tidal Investments LLC increased its holdings in Nucor by 31.2% in the 2nd quarter. Tidal Investments LLC now owns 61,952 shares of the basic materials company’s stock worth $13,800,000 after acquiring an additional 14,736 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Nucor in the 2nd quarter worth $7,954,000. BIP Wealth LLC acquired a new position in Nucor during the second quarter worth $852,000. Finally, Bank of New York Mellon Corp raised its position in Nucor by 1.7% during the first quarter. Bank of New York Mellon Corp now owns 1,809,899 shares of the basic materials company’s stock worth $306,054,000 after acquiring an additional 29,476 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Buying and Selling at Nucor

In other news, COO Stephen D. Laxton sold 3,968 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $256.96, for a total value of $1,019,617.28. Following the completion of the sale, the chief operating officer directly owned 77,867 shares in the company, valued at $20,008,704.32. This represents a 4.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Thomas J. Batterbee sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the completion of the transaction, the executive vice president directly owned 16,138 shares in the company, valued at approximately $4,212,340.76. This represents a 19.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on NUE shares. JPMorgan Chase & Co. decreased their price objective on shares of Nucor from $308.00 to $296.00 and set an “overweight” rating on the stock in a report on Friday, October 9th. Freedom Broker cut shares of Nucor from a “buy” rating to a “hold” rating and cut their target price for the stock from $305.00 to $285.00 in a research note on Friday, September 18th. Wall Street Zen raised shares of Nucor from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Wells Fargo & Company reduced their price target on shares of Nucor from $285.00 to $280.00 and set an “overweight” rating for the company in a research report on Friday, September 18th. Finally, UBS Group upped their price target on shares of Nucor from $224.00 to $256.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $276.86.

Nucor Stock Performance

NYSE NUE opened at $261.05 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.36. The stock’s 50 day simple moving average is $253.44 and its 200-day simple moving average is $239.18. The company has a market cap of $59.23 billion, a PE ratio of 20.82, a price-to-earnings-growth ratio of 0.63 and a beta of 1.84. Nucor Corporation has a 1-year low of $133.78 and a 1-year high of $280.11.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, topping the consensus estimate of $4.46 by $0.38. Nucor had a return on equity of 12.73% and a net margin of 7.99%. The firm had revenue of $10.40 billion during the quarter, compared to analysts’ expectations of $10.15 billion. During the same period in the previous year, the business earned $2.60 earnings per share. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. As a group, equities research analysts anticipate that Nucor Corporation will post 19.62 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 10th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Nucor’s payout ratio is 17.86%.

Key Headlines Impacting Nucor

Here are the key news stories impacting Nucor this week:

• Positive Sentiment: Wall Street Zen upgraded Nucor, providing a favorable analyst signal that may support investor confidence in the steelmaker. Nucor Upgraded at Wall Street Zen
• Positive Sentiment: A Seeking Alpha analysis argues that the market is focusing too heavily on short-term quarterly volatility and may be overlooking Nucor’s longer-term investment case. That framing could encourage investors to look beyond near-term earnings fluctuations. Nucor Q3 Earnings Analysis
• Positive Sentiment: Broader steel-sector sentiment improved after Cleveland-Cliffs reported its strongest quarter in three years. Nucor and Steel Dynamics also moved higher, suggesting investors may be anticipating better operating conditions for domestic steel producers. Cleveland-Cliffs and Steel Stocks Rally
• Positive Sentiment: A Zacks feature identifies Nucor as a highly ranked basic-materials stock, reinforcing the view that it may offer attractive relative strength and earnings potential. Top Basic Materials Stock
• Neutral Sentiment: Nucor is scheduled to release earnings on Monday, keeping the stock centered on expectations for its next quarterly results. Nucor Earnings Release
• Negative Sentiment: Zacks cautions that Nucor lacks the two key ingredients associated with a likely earnings beat, potentially limiting upside if results or guidance fall short of elevated expectations. Nucor Earnings Expectations

About Nucor

Nucor Corporation is a steel producer headquartered in Charlotte, North Carolina. Through its operating subsidiaries, the company manufactures steel and steel products for customers in construction, automotive, energy, heavy equipment, transportation and other industrial markets.

Nucor’s operations include electric arc furnace steel mills, which produce carbon, alloy and galvanized steel products. Its product portfolio includes sheet steel, plate, beams, bars, wire and wire mesh, steel joists, deck, piling, fabricated concrete reinforcing steel and other downstream products.