Chapin Davis Inc. Has $1.05 Million Stake in Nucor Corporation (NYSE:NUE)

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

Other large investors also recently bought and sold shares of the company. Marshall & Sterling Wealth Advisors Inc. bought a new position in Nucor in the 4th quarter valued at $25,000. Putney Financial Group LLC purchased a new position in Nucor during the 4th quarter worth $29,000. MV Capital Management Inc. lifted its position in Nucor by 73.5% during the 1st quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company's stock worth $34,000 after acquiring an additional 119 shares during the period. Fourth Dimension Wealth LLC acquired a new stake in shares of Nucor during the fourth quarter worth about $41,000. Finally, Park Square Financial Group LLC acquired a new position in Nucor during the fourth quarter valued at $48,000. Institutional investors own 76.48% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Wall Street Zen cut Nucor from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. UBS Group cut their price target 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. The Goldman Sachs Group dropped their target price on shares of Nucor from $175.00 to $169.00 and set a "buy" rating for the company in a report on Monday, April 7th. JPMorgan Chase & Co. lowered their target price on Nucor from $156.00 to $140.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Finally, Argus set a $155.00 target price on shares of Nucor in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $155.56.

Nucor Stock Performance

Shares of NYSE:NUE traded up $2.54 on Thursday, reaching $130.75. The company's stock had a trading volume of 1,838,279 shares, compared to its average volume of 2,229,080. The stock's 50-day moving average is $117.76 and its two-hundred day moving average is $122.25. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.52 and a quick ratio of 1.48. The stock has a market capitalization of $30.17 billion, a P/E ratio of 23.27, a PEG ratio of 0.83 and a beta of 1.67. Nucor Corporation has a 52-week low of $97.59 and a 52-week high of $170.52.

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

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Monday, June 30th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.20 annualized dividend and a yield of 1.68%. Nucor's payout ratio is currently 39.15%.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Daniel R. Needham sold 7,088 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $127.87, for a total transaction of $906,342.56. Following the sale, the executive vice president now directly owns 99,379 shares in the company, valued at approximately $12,707,592.73. The trade was a 6.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 disclosure for this sale can be found here. 0.46% of the stock is owned by company insiders.

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.