TD Waterhouse Canada Inc. Purchases 9,511 Shares of Nucor Corporation $NUE

by · The Markets Daily

TD Waterhouse Canada Inc. boosted its holdings in shares of Nucor Corporation (NYSE:NUE – Free Report) by 149.4% during the second quarter, Holdings Channel reports. The firm owned 15,876 shares of the basic materials company’s stock after acquiring an additional 9,511 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Nucor were worth $3,477,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. Premier Path Wealth Partners LLC increased its position in Nucor by 7.4% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 3,323 shares of the basic materials company’s stock valued at $740,000 after purchasing an additional 228 shares during the period. Concurrent Investment Advisors LLC raised its stake in Nucor by 118.6% in the second quarter. Concurrent Investment Advisors LLC now owns 16,102 shares of the basic materials company’s stock worth $3,587,000 after buying an additional 8,735 shares in the last quarter. NEOS Investment Management LLC raised its stake in Nucor by 12.5% in the second quarter. NEOS Investment Management LLC now owns 36,952 shares of the basic materials company’s stock worth $8,231,000 after buying an additional 4,101 shares in the last quarter. Burford Brothers Inc. bought a new position in Nucor in the second quarter worth about $247,000. Finally, Continuum Advisory LLC purchased a new stake in Nucor in the second quarter worth about $43,000. Institutional investors own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

NUE has been the topic of several research reports. Barclays lifted their price objective on Nucor from $272.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Morgan Stanley set a $270.00 target price on Nucor in a research note on Wednesday, July 29th. CICC Research began coverage on Nucor in a research report on Monday, May 25th. They set an “outperform” rating on the stock. Citigroup reaffirmed a “buy” rating on shares of Nucor in a research note on Wednesday, July 29th. Finally, Wells Fargo & Company decreased their price objective on Nucor from $297.00 to $285.00 and set an “overweight” rating for the company in a report on Monday, August 24th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Nucor currently has an average rating of “Moderate Buy” and an average target price of $272.38.

Read Our Latest Stock Report on Nucor

Nucor Stock Performance

Shares of NUE stock opened at $260.98 on Tuesday. The company has a market capitalization of $59.21 billion, a price-to-earnings ratio of 20.81, a price-to-earnings-growth ratio of 0.97 and a beta of 1.87. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51. The company’s 50-day moving average is $248.81 and its 200 day moving average is $222.15. Nucor Corporation has a one year low of $131.32 and a one year high of $280.11.

Nucor (NYSE:NUE – Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The basic materials company reported $4.84 earnings per share for the quarter, topping analysts’ consensus estimates of $4.46 by $0.38. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The company had revenue of $10.40 billion during the quarter, compared to analyst estimates of $10.15 billion. During the same period in the previous year, the business earned $2.60 EPS. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. Sell-side analysts expect that Nucor Corporation will post 17.95 EPS for the current fiscal year.

Insider Transactions at Nucor

In other news, COO Stephen D. Laxton sold 3,968 shares of Nucor stock in a transaction that occurred on 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. The trade was a 4.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Thomas J. Batterbee sold 4,000 shares of the business’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 transaction, the executive vice president directly owned 16,138 shares of the company’s stock, valued at $4,212,340.76. The trade was a 19.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.62% of the stock is currently owned by insiders.

Nucor Profile

(Free Report)

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.

Featured Articles

Want to see what other hedge funds are holding NUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nucor Corporation (NYSE:NUE – Free Report).