Chapin Davis Inc. Grows Holdings in Nucor Corporation (NYSE:NUE)

Chapin Davis Inc. boosted its holdings in shares of Nucor Corporation (NYSE:NUE - Free Report) by 96.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,743 shares of the basic materials company's stock after acquiring an additional 4,302 shares during the period. Chapin Davis Inc.'s holdings in Nucor were worth $1,052,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Oppenheimer & Co. Inc. raised its holdings in Nucor by 17.7% in the first quarter. Oppenheimer & Co. Inc. now owns 16,673 shares of the basic materials company's stock worth $2,006,000 after buying an additional 2,505 shares during the last quarter. Stiles Financial Services Inc increased its holdings in shares of Nucor by 19.9% in the 1st quarter. Stiles Financial Services Inc now owns 5,248 shares of the basic materials company's stock worth $632,000 after purchasing an additional 872 shares in the last quarter. Whalen Wealth Management Inc. bought a new position in shares of Nucor during the first quarter valued at $206,000. Grace & White Inc. NY boosted its position in shares of Nucor by 1.6% during the first quarter. Grace & White Inc. NY now owns 124,239 shares of the basic materials company's stock valued at $14,951,000 after buying an additional 1,900 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position in Nucor by 10.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 78,539 shares of the basic materials company's stock worth $9,451,000 after buying an additional 7,507 shares during the last quarter. Institutional investors own 76.48% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. UBS Group decreased their price objective on shares of Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a report on Thursday, May 29th. JPMorgan Chase & Co. cut their target price on shares of Nucor from $156.00 to $140.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Argus set a $155.00 price target on Nucor in a report on Wednesday, March 5th. Morgan Stanley raised their price target on Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, BMO Capital Markets upgraded Nucor from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $140.00 to $145.00 in a research report on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $155.56.

Insider Buying and Selling at Nucor

In other Nucor news, CEO Leon J. Topalian sold 34,238 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $120.19, for a total transaction of $4,115,065.22. Following the transaction, the chief executive officer now owns 162,993 shares of the company's stock, valued at approximately $19,590,128.67. This trade represents a 17.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.71% of the company's stock.

Nucor Stock Down 1.7%

NUE opened at $124.08 on Monday. Nucor Corporation has a 52 week low of $97.59 and a 52 week high of $170.52. The company has a quick ratio of 1.48, a current ratio of 2.52 and a debt-to-equity ratio of 0.32. The firm has a 50-day simple moving average of $116.31 and a two-hundred day simple moving average of $122.38. The company has a market capitalization of $28.63 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 0.78 and a beta of 1.68.

Nucor (NYSE:NUE - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.15). Nucor had a return on equity of 6.82% and a net margin of 4.40%. The firm had revenue of $7.83 billion for the quarter, compared to analysts' expectations of $7.25 billion. During the same period last year, the company earned $3.46 earnings per share. The firm's revenue was down 3.8% on a year-over-year basis. Analysts forecast that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.55 per share. The ex-dividend date is Monday, June 30th. This represents a $2.20 annualized dividend and a yield of 1.77%. Nucor's payout ratio is currently 39.15%.

Nucor Company Profile

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.

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