Chapin Davis Inc. Increases Stock Holdings in Nucor Corporation $NUE

Chapin Davis Inc. boosted its holdings in Nucor Corporation (NYSE:NUE) by 41.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,203 shares of the basic materials company’s stock after purchasing 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.

Several other large investors have also recently added to or reduced their stakes in NUE. 180 Wealth Advisors LLC boosted its stake in Nucor by 32.8% in the 2nd quarter. 180 Wealth Advisors LLC now owns 6,743 shares of the basic materials company’s stock worth $1,502,000 after buying an additional 1,665 shares during the last quarter. Mechanics Bank Trust Department acquired a new position in shares of Nucor during the 2nd quarter valued at about $256,000. Mirador Capital Partners LP lifted its holdings in shares of Nucor by 5.8% during the 2nd quarter. Mirador Capital Partners LP now owns 6,132 shares of the basic materials company’s stock worth $1,366,000 after acquiring an additional 336 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Nucor by 23.4% during the 2nd quarter. GAMMA Investing LLC now owns 6,367 shares of the basic materials company’s stock worth $1,418,000 after acquiring an additional 1,207 shares during the period. Finally, Canandaigua National Bank & Trust Co. acquired a new stake in shares of Nucor in the second quarter worth approximately $610,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Trading Up 0.2%

NYSE NUE opened at $274.52 on Thursday. The firm has a market capitalization of $62.52 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 0.61 and a beta of 1.89. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51. Nucor Corporation has a one year low of $131.32 and a one year high of $280.11. The company’s 50 day moving average price is $244.76 and its 200 day moving average price is $209.68.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.46 by $0.38. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The company had revenue of $10.40 billion during the quarter, compared to the consensus estimate of $10.15 billion. During the same period in the previous year, the firm earned $2.60 earnings per share. Nucor’s revenue for the quarter was up 23.0% on a year-over-year basis. On average, sell-side analysts predict that Nucor Corporation will post 18.02 EPS for the current year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.56 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.24 annualized dividend and a dividend yield of 0.8%. Nucor’s payout ratio is presently 17.86%.

Insider Buying and Selling at Nucor

In related news, EVP Randy J. Spicer sold 2,500 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $225.00, for a total transaction of $562,500.00. Following the completion of the sale, the executive vice president directly owned 20,510 shares of the company’s stock, valued at approximately $4,614,750. This represents a 10.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thomas J. Batterbee sold 4,000 shares of the stock in a transaction 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 sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 21,028 shares of company stock worth $5,355,535. Insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Argus upped their price target on shares of Nucor from $200.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Jefferies Financial Group lifted their price target on shares of Nucor from $225.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. JPMorgan Chase & Co. boosted their price objective on shares of Nucor from $240.00 to $282.00 and gave the company an “overweight” rating in a research note on Wednesday, June 10th. Citigroup restated a “buy” rating on shares of Nucor in a report on Wednesday, July 29th. Finally, CICC Research initiated coverage on Nucor in a research report on Monday, May 25th. They issued an “outperform” rating on the stock. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $273.31.

Nucor 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.