Chapin Davis Inc. Acquires 426 Shares of Nucor Co. (NYSE:NUE)

Chapin Davis Inc. increased its holdings in shares of Nucor Co. (NYSE:NUE) by 21.5% in the first quarter, Holdings Channel.com reports. The fund 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 quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Compagnie Lombard Odier SCmA bought a new stake in shares of Nucor during the 4th quarter worth approximately $3,481,000. Newbridge Financial Services Group Inc. increased its holdings in shares of Nucor by 94.2% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,855 shares of the basic materials company’s stock valued at $323,000 after acquiring an additional 900 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in shares of Nucor by 6.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 262,385 shares of the basic materials company’s stock valued at $45,665,000 after acquiring an additional 15,058 shares during the period. AIA Group Ltd increased its holdings in shares of Nucor by 53.2% in the 4th quarter. AIA Group Ltd now owns 13,226 shares of the basic materials company’s stock valued at $2,302,000 after acquiring an additional 4,592 shares during the period. Finally, Sapient Capital LLC purchased a new position in shares of Nucor in the 4th quarter valued at $1,230,000. 76.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. cut their price target on Nucor from $190.00 to $180.00 and set a “neutral” rating on the stock in a report on Tuesday, June 11th. StockNews.com downgraded Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $180.00 to $240.00 in a research note on Wednesday, March 13th. Bank of America dropped their target price on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Finally, Jefferies Financial Group initiated coverage on Nucor in a research note on Monday, May 20th. They set a “hold” rating and a $190.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $189.67.

Nucor Stock Down 0.7 %

Nucor stock opened at $157.00 on Tuesday. The company has a market cap of $37.64 billion, a PE ratio of 9.24 and a beta of 1.57. The business’s 50-day simple moving average is $166.46 and its two-hundred day simple moving average is $177.87. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.48 and a current ratio of 4.02. Nucor Co. has a fifty-two week low of $140.07 and a fifty-two week high of $203.00.

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

Nucor Dividend Announcement

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

About Nucor

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.