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

Key Points

• TD Waterhouse Canada increased its Nucor position by 149.4% in the second quarter, buying 9,511 additional shares and bringing its holdings to 15,876 shares valued at $3.48 million. Institutional investors collectively own 76.48% of Nucor.
• Analysts maintain a favorable outlook, with 13 Buy ratings and three Holds producing a consensus “Moderate Buy” rating and an average price target of $272.38.
• Nucor exceeded quarterly expectations, reporting $4.84 in earnings per share versus a $4.46 estimate and $10.40 billion in revenue, up 23% year over year. Shares opened at $260.98, while two executives recently sold shares totaling more than $2 million.

TD Waterhouse Canada Inc. boosted its position in Nucor Corporation (NYSE:NUE - Free Report) by 149.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,876 shares of the basic materials company's stock after purchasing an additional 9,511 shares during the period. TD Waterhouse Canada Inc.'s holdings in Nucor were worth $3,477,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of NUE. Integrated Wealth Concepts LLC grew its stake in shares of Nucor by 21.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company's stock worth $393,000 after acquiring an additional 568 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Nucor in the 1st quarter valued at about $259,000. Geneos Wealth Management Inc. lifted its holdings in Nucor by 81.8% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company's stock valued at $41,000 after purchasing an additional 153 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in Nucor during the second quarter valued at about $390,000. Finally, Cerity Partners LLC boosted its position in Nucor by 51.9% during the second quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company's stock worth $5,263,000 after purchasing an additional 13,877 shares during the period. 76.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on NUE. Morgan Stanley set a $270.00 price target on shares of Nucor in a research report on Wednesday, July 29th. UBS Group lifted their price objective on shares of Nucor from $224.00 to $256.00 and gave the company a "neutral" rating in a research note on Tuesday, July 28th. Wells Fargo & Company lowered their target price on shares of Nucor from $297.00 to $285.00 and set an "overweight" rating on the stock in a report on Monday, August 24th. CICC Research began coverage on Nucor in a research report on Monday, May 25th. They set an "outperform" rating on the stock. Finally, The Goldman Sachs Group raised their price target on Nucor from $260.00 to $284.00 and gave the stock a "buy" rating in a report on Tuesday, June 16th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $272.38.

Insider Transactions at Nucor

In other Nucor news, 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 value of $1,044,080.00. Following the completion of the transaction, the executive vice president owned 16,138 shares of the company's stock, valued at $4,212,340.76. The trade was a 19.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Stephen D. Laxton sold 3,968 shares of the stock in a transaction 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 transaction, the chief operating officer directly owned 77,867 shares in the company, valued at approximately $20,008,704.32. This represents a 4.85% decrease in their position. The SEC filing for this sale provides additional information. 0.62% of the stock is owned by corporate insiders.

Nucor Price Performance

Shares of NYSE:NUE opened at $260.98 on Tuesday. Nucor Corporation has a 12 month low of $131.32 and a 12 month high of $280.11. 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 $59.21 billion, a P/E ratio of 20.81, a P/E/G ratio of 0.97 and a beta of 1.87. The company has a 50 day moving average of $248.81 and a 200 day moving average of $222.15.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, beating 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 firm 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 business's revenue for the quarter was up 23.0% on a year-over-year basis. As a group, sell-side analysts forecast that Nucor Corporation will post 17.95 EPS for the current fiscal year.

About Nucor

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.