Chapin Davis Inc. Purchases 3,288 Shares of Nucor Corporation $NUE

Chapin Davis Inc. lifted its position in Nucor Corporation (NYSE:NUE) by 41.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,203 shares of the basic materials company’s stock after buying an additional 3,288 shares during the quarter. Chapin Davis Inc.’s holdings in Nucor were worth $2,495,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Transamerica Financial Advisors LLC acquired a new position in Nucor during the 2nd quarter worth $25,000. Manning & Napier Advisors LLC bought a new stake in Nucor during the second quarter valued at about $27,000. Bell Investment Advisors Inc acquired a new stake in shares of Nucor in the second quarter valued at about $28,000. Strive Financial Group LLC acquired a new stake in shares of Nucor in the fourth quarter valued at about $27,000. Finally, Stance Capital LLC bought a new position in shares of Nucor in the third quarter worth about $25,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Trading Down 0.6%

Nucor stock opened at $250.84 on Friday. The business has a 50 day moving average price of $246.64 and a two-hundred day moving average price of $218.97. The company has a quick ratio of 1.36, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The stock has a market cap of $56.91 billion, a price-to-earnings ratio of 20.00, a price-to-earnings-growth ratio of 0.94 and a beta of 1.89. Nucor Corporation has a 12 month low of $131.32 and a 12 month high of $280.11.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, topping analysts’ consensus estimates of $4.46 by $0.38. The company had revenue of $10.40 billion during the quarter, compared to the consensus estimate of $10.15 billion. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The company’s quarterly revenue was up 23.0% on a year-over-year basis. During the same quarter last year, the company earned $2.60 EPS. As a group, equities analysts forecast that Nucor Corporation will post 17.95 EPS for the current year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 30th. Nucor’s dividend payout ratio (DPR) is presently 17.86%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. BMO Capital Markets boosted their price objective on Nucor from $285.00 to $295.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Weiss Ratings raised Nucor from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. Morgan Stanley set a $270.00 price objective on Nucor in a research report on Wednesday, July 29th. BNP Paribas Exane raised their price objective on shares of Nucor from $210.00 to $248.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Finally, Barclays upped their target price on shares of Nucor from $272.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $272.38.

Insider Activity at Nucor

In related news, EVP John J. Hollatz sold 10,560 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total value of $2,729,337.60. Following the completion of the transaction, the executive vice president owned 97,865 shares of the company’s stock, valued at $25,294,187.90. This represents a 9.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Thomas J. Batterbee sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the transaction, the executive vice president owned 16,138 shares of the company’s stock, valued at approximately $4,212,340.76. This represents a 19.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 18,528 shares of company stock valued at $4,793,035 over the last quarter. 0.62% of the stock is owned by company insiders.

Nucor Company Profile

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.