Bank of Nova Scotia Has $12.26 Million Position in Nucor Corporation $NUE

Bank of Nova Scotia grew its stake in shares of Nucor Corporation (NYSE:NUE) by 149.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 94,635 shares of the basic materials company’s stock after acquiring an additional 56,705 shares during the period. Bank of Nova Scotia’s holdings in Nucor were worth $12,259,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. California Public Employees Retirement System boosted its position in Nucor by 3.1% during the second quarter. California Public Employees Retirement System now owns 411,213 shares of the basic materials company’s stock valued at $53,269,000 after purchasing an additional 12,485 shares during the last quarter. Cerity Partners LLC raised its stake in shares of Nucor by 51.9% during the 2nd 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 in the last quarter. Daner Wealth Management LLC acquired a new stake in shares of Nucor during the 2nd quarter valued at about $213,000. StoneX Group Inc. lifted its holdings in shares of Nucor by 10.1% during the 2nd quarter. StoneX Group Inc. now owns 2,495 shares of the basic materials company’s stock valued at $324,000 after buying an additional 228 shares during the last quarter. Finally, Cresset Asset Management LLC grew its stake in shares of Nucor by 2.3% in the 2nd quarter. Cresset Asset Management LLC now owns 114,090 shares of the basic materials company’s stock valued at $14,842,000 after buying an additional 2,529 shares in the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Nucor

In other news, EVP Allen C. Behr sold 9,042 shares of the stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $151.28, for a total value of $1,367,873.76. Following the completion of the sale, the executive vice president directly owned 73,661 shares of the company’s stock, valued at approximately $11,143,436.08. This represents a 10.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stephen D. Laxton sold 2,003 shares of the firm’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $151.57, for a total transaction of $303,594.71. Following the completion of the sale, the chief financial officer owned 88,174 shares in the company, valued at approximately $13,364,533.18. The trade was a 2.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 18,045 shares of company stock worth $2,720,628 over the last three months. 0.46% of the stock is currently owned by insiders.

Nucor Stock Performance

Shares of NUE opened at $164.03 on Thursday. The company has a market capitalization of $37.54 billion, a PE ratio of 23.04, a price-to-earnings-growth ratio of 1.14 and a beta of 1.85. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.77 and a quick ratio of 1.51. Nucor Corporation has a one year low of $97.59 and a one year high of $166.26. The company’s fifty day moving average price is $147.05 and its 200 day moving average price is $139.78.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, October 27th. The basic materials company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.33. The company had revenue of $8.52 billion for the quarter, compared to the consensus estimate of $8.27 billion. Nucor had a return on equity of 7.80% and a net margin of 5.18%.The firm’s revenue was up 14.5% compared to the same quarter last year. During the same period last year, the business posted $1.49 earnings per share. Nucor has set its Q4 2025 guidance at -2.630 EPS. As a group, analysts expect that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 11th. Shareholders of record on Wednesday, December 31st will be given a $0.56 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $2.24 annualized dividend and a yield of 1.4%. This is an increase from Nucor’s previous quarterly dividend of $0.55. Nucor’s dividend payout ratio (DPR) is presently 30.90%.

Wall Street Analyst Weigh In

NUE has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price objective on shares of Nucor from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, December 5th. Citigroup increased their price target on shares of Nucor from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Bank of America lifted their price objective on shares of Nucor from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Jefferies Financial Group increased their target price on shares of Nucor from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, UBS Group raised their target price on Nucor from $165.00 to $168.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $171.70.

About Nucor

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.