Linscomb Wealth Inc. Has $1.37 Million Stock Position in Nucor Co. (NYSE:NUE)

Linscomb Wealth Inc. lessened its holdings in Nucor Co. (NYSE:NUE) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,129 shares of the basic materials company’s stock after selling 102 shares during the period. Linscomb Wealth Inc.’s holdings in Nucor were worth $1,372,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Empowered Funds LLC lifted its position in shares of Nucor by 152.5% in the third quarter. Empowered Funds LLC now owns 86,357 shares of the basic materials company’s stock worth $12,983,000 after buying an additional 52,156 shares during the last quarter. Empirical Finance LLC increased its holdings in shares of Nucor by 1.0% during the 3rd quarter. Empirical Finance LLC now owns 11,824 shares of the basic materials company’s stock valued at $1,778,000 after acquiring an additional 120 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Nucor by 7.5% in the 3rd quarter. CIBC Asset Management Inc now owns 35,179 shares of the basic materials company’s stock valued at $5,289,000 after acquiring an additional 2,461 shares in the last quarter. ING Groep NV lifted its holdings in Nucor by 267.4% in the 3rd quarter. ING Groep NV now owns 118,542 shares of the basic materials company’s stock worth $17,822,000 after purchasing an additional 86,279 shares during the last quarter. Finally, Lifeworks Advisors LLC bought a new stake in Nucor during the third quarter worth approximately $204,000. 76.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Argus raised shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Morgan Stanley dropped their target price on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their price target on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Finally, BMO Capital Markets dropped their price objective on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $190.57.

Insider Buying and Selling

In related news, EVP Kenneth Rex Query sold 9,000 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the completion of the transaction, the executive vice president now owns 98,770 shares of the company’s stock, valued at $14,499,436. This represents a 8.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Allen C. Behr sold 4,968 shares of Nucor stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $159.72, for a total value of $793,488.96. Following the sale, the executive vice president now directly owns 85,376 shares in the company, valued at $13,636,254.72. The trade was a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,680 shares of company stock valued at $4,773,724 over the last ninety days. 0.46% of the stock is owned by company insiders.

Nucor Stock Performance

NYSE NUE opened at $147.08 on Friday. The company’s fifty day moving average is $148.88 and its two-hundred day moving average is $154.96. The firm has a market capitalization of $34.54 billion, a price-to-earnings ratio of 14.21 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61. Nucor Co. has a 52-week low of $133.42 and a 52-week high of $203.00.

Nucor (NYSE:NUE) last released its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.09. The business had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The firm’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same period last year, the business earned $4.57 earnings per share. Equities research analysts forecast that Nucor Co. will post 8.52 EPS for the current year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were paid a $0.54 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.47%. Nucor’s payout ratio is 20.87%.

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.