TD Waterhouse Canada Inc. Purchases 5,214 Shares of Nucor Corporation $NUE

TD Waterhouse Canada Inc. boosted its position in shares of Nucor Corporation (NYSE:NUE) by 32.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,090 shares of the basic materials company’s stock after acquiring an additional 5,214 shares during the period. TD Waterhouse Canada Inc.’s holdings in Nucor were worth $4,978,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Nucor in the second quarter worth $4,452,563,000. Bank of America Corp DE purchased a new stake in shares of Nucor during the 2nd quarter valued at $462,886,000. Berkshire Hathaway Inc purchased a new stake in shares of Nucor during the 2nd quarter valued at $413,814,000. Bank of New York Mellon Corp purchased a new stake in shares of Nucor during the 2nd quarter valued at $330,902,000. Finally, Legal & General Group Plc acquired a new stake in shares of Nucor in the 2nd quarter worth $324,154,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Buying and Selling

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

Nucor Trading Up 1.9%

NYSE NUE opened at $261.05 on Tuesday. Nucor Corporation has a 12-month low of $133.78 and a 12-month high of $280.11. The company has a fifty day simple moving average of $253.44 and a two-hundred day simple moving average of $239.18. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. The stock has a market cap of $59.23 billion, a P/E ratio of 20.82, a P/E/G ratio of 0.63 and a beta of 1.84.

Nucor (NYSE:NUE) last released its earnings results on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $10.15 billion. During the same quarter in the previous year, the company posted $2.60 earnings per share. The company’s revenue was up 23.0% compared to the same quarter last year. On average, analysts forecast that Nucor Corporation will post 19.62 earnings per share for the current year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 10th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.9%. Nucor’s dividend payout ratio (DPR) is presently 17.86%.

Nucor News Summary

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on NUE shares. Wells Fargo & Company dropped their target price on Nucor from $285.00 to $280.00 and set an “overweight” rating on the stock in a research note on Friday, September 18th. Barclays upped their target price on Nucor from $295.00 to $306.00 and gave the company an “overweight” rating in a research report on Monday. BMO Capital Markets increased their price target on Nucor from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Morgan Stanley set a $270.00 price target on Nucor in a research note on Wednesday, July 29th. Finally, Citigroup reissued a “buy” rating on shares of Nucor in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $276.86.

Nucor Profile

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.