Chapin Davis Inc. Boosts Position in Nucor Co. (NYSE:NUE)

Chapin Davis Inc. raised its stake in shares of Nucor Co. (NYSE:NUE) by 21.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,412 shares of the basic materials company’s stock after buying an additional 426 shares during the quarter. Chapin Davis Inc.’s holdings in Nucor were worth $477,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Rise Advisors LLC purchased a new position in shares of Nucor during the first quarter worth about $27,000. Criterion Capital Advisors LLC bought a new stake in Nucor in the 4th quarter worth approximately $25,000. Tompkins Financial Corp lifted its position in Nucor by 208.0% in the 1st quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock worth $30,000 after buying an additional 104 shares during the last quarter. Fortitude Family Office LLC lifted its position in Nucor by 54.1% in the 1st quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock worth $33,000 after buying an additional 59 shares during the last quarter. Finally, Valley National Advisers Inc. lifted its position in Nucor by 716.7% in the 4th quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock worth $34,000 after buying an additional 172 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

NUE has been the subject of a number of recent research reports. Jefferies Financial Group initiated coverage on Nucor in a research report on Monday, May 20th. They issued a “hold” rating and a $190.00 target price for the company. Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $180.00 to $240.00 in a research report on Wednesday, March 13th. StockNews.com downgraded Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. lowered their price objective on Nucor from $190.00 to $180.00 and set a “neutral” rating for the company in a research report on Tuesday, June 11th. Finally, BMO Capital Markets lowered their price objective on Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a research report on Monday, June 17th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $189.67.

Nucor Price Performance

Shares of NUE stock opened at $157.00 on Tuesday. Nucor Co. has a twelve month low of $140.07 and a twelve month high of $203.00. The stock has a market cap of $37.64 billion, a price-to-earnings ratio of 9.24 and a beta of 1.57. The business’s fifty day moving average is $166.46 and its 200 day moving average is $177.87. The company has a quick ratio of 2.48, a current ratio of 4.02 and a debt-to-equity ratio of 0.31.

Nucor (NYSE:NUE) last released its earnings results on Monday, April 22nd. The basic materials company reported $3.46 EPS for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). Nucor had a return on equity of 19.62% and a net margin of 12.40%. The company had revenue of $8.14 billion during the quarter, compared to analysts’ expectations of $8.26 billion. During the same period in the prior year, the company posted $4.45 earnings per share. The company’s revenue was down 6.6% on a year-over-year basis. Research analysts expect that Nucor Co. will post 10.84 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, June 28th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.38%. Nucor’s dividend payout ratio is currently 12.71%.

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.