Linscomb Wealth Inc. Has $1.01 Million Position in Nucor Co. (NYSE:NUE)

Linscomb Wealth Inc. lessened its holdings in Nucor Co. (NYSE:NUE) by 5.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,630 shares of the basic materials company’s stock after selling 499 shares during the period. Linscomb Wealth Inc.’s holdings in Nucor were worth $1,007,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Integrated Advisors Network LLC grew its stake in Nucor by 15.2% during the 3rd quarter. Integrated Advisors Network LLC now owns 2,797 shares of the basic materials company’s stock valued at $421,000 after acquiring an additional 369 shares in the last quarter. First Trust Direct Indexing L.P. boosted its holdings in shares of Nucor by 1.4% during the third quarter. First Trust Direct Indexing L.P. now owns 5,467 shares of the basic materials company’s stock worth $822,000 after purchasing an additional 74 shares during the period. Reston Wealth Management LLC purchased a new position in Nucor during the third quarter valued at approximately $52,000. Gladstone Institutional Advisory LLC increased its stake in Nucor by 18.1% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 2,829 shares of the basic materials company’s stock valued at $425,000 after buying an additional 433 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in Nucor by 5.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,009 shares of the basic materials company’s stock worth $302,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of Nucor from $152.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Jefferies Financial Group upped their target price on Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. StockNews.com upgraded Nucor from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. The Goldman Sachs Group assumed coverage on Nucor in a research note on Monday, December 2nd. They issued a “buy” rating and a $190.00 price target for the company. Finally, Citigroup cut their price objective on shares of Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $163.13.

Nucor Stock Up 2.0 %

Shares of Nucor stock opened at $137.52 on Friday. Nucor Co. has a 12-month low of $112.25 and a 12-month high of $203.00. The stock has a market capitalization of $32.29 billion, a P/E ratio of 16.35, a PEG ratio of 0.96 and a beta of 1.60. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The stock has a 50 day moving average price of $126.86 and a two-hundred day moving average price of $139.55.

Nucor (NYSE:NUE) last posted its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.28. Nucor had a net margin of 6.60% and a return on equity of 9.85%. During the same period last year, the firm posted $3.16 EPS. Equities analysts expect that Nucor Co. will post 7.64 earnings per share for the current year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be paid a $0.55 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.60%. Nucor’s payout ratio is presently 26.16%.

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.