Nucor Corporation $NUE Shares Bought by Chapin Davis Inc.

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

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Nucor by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 28,407,540 shares of the basic materials company’s stock worth $4,633,554,000 after buying an additional 144,038 shares during the period. Morgan Stanley lifted its holdings in Nucor by 1.1% in the 4th quarter. Morgan Stanley now owns 3,853,205 shares of the basic materials company’s stock worth $628,497,000 after buying an additional 41,728 shares in the last quarter. Norges Bank purchased a new position in Nucor in the 4th quarter valued at about $609,002,000. Dimensional Fund Advisors LP boosted its position in Nucor by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,539,044 shares of the basic materials company’s stock valued at $429,298,000 after buying an additional 22,718 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Nucor by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,919,883 shares of the basic materials company’s stock valued at $313,152,000 after acquiring an additional 56,565 shares in the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on NUE shares. CICC Research started coverage on Nucor in a research report on Monday, May 25th. They set an “outperform” rating on the stock. Zacks Research lowered Nucor from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. The Goldman Sachs Group lifted their price objective on Nucor from $260.00 to $284.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. Wells Fargo & Company upped their target price on Nucor from $283.00 to $297.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Finally, Wall Street Zen upgraded Nucor from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Nucor currently has an average rating of “Moderate Buy” and a consensus target price of $273.31.

Insider Transactions at Nucor

In other news, EVP John J. Hollatz sold 10,560 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total transaction of $2,729,337.60. Following the completion of the transaction, the executive vice president owned 97,865 shares in the company, valued at approximately $25,294,187.90. This trade represents a 9.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Stephen D. Laxton sold 3,968 shares of Nucor stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the completion of the transaction, the chief operating officer directly owned 77,867 shares in the company, valued at $20,008,704.32. This represents a 4.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 21,028 shares of company stock valued at $5,355,535 in the last three months. 0.62% of the stock is currently owned by insiders.

Nucor Price Performance

Shares of NYSE:NUE opened at $274.52 on Thursday. The stock has a market cap 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 current ratio of 2.51 and a quick ratio of 1.36. Nucor Corporation has a 12 month low of $131.32 and a 12 month high of $280.11. The stock’s 50 day moving average price is $244.76 and its 200 day moving average price is $209.68.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.46 by $0.38. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The firm had revenue of $10.40 billion during the quarter, compared to analyst estimates of $10.15 billion. During the same period last year, the company posted $2.60 EPS. The firm’s quarterly revenue was up 23.0% on a year-over-year basis. Equities research analysts anticipate that Nucor Corporation will post 18.02 earnings per share for the current fiscal year.

Nucor Dividend Announcement

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

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.