Nucor Co. (NYSE:NUE) Shares Sold by Linscomb Wealth Inc.

Linscomb Wealth Inc. reduced its stake in shares of Nucor Co. (NYSE:NUE) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,630 shares of the basic materials company’s stock after selling 499 shares during the quarter. Linscomb Wealth Inc.’s holdings in Nucor were worth $1,007,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in NUE. Ashton Thomas Securities LLC bought a new stake in shares of Nucor during the third quarter valued at approximately $26,000. Coastline Trust Co acquired a new stake in Nucor in the 3rd quarter valued at approximately $29,000. Crews Bank & Trust bought a new stake in Nucor during the 4th quarter valued at $29,000. New Wave Wealth Advisors LLC acquired a new position in Nucor during the 4th quarter worth $33,000. Finally, Versant Capital Management Inc boosted its position in Nucor by 60.3% during the 4th quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 114 shares during the period. 76.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on NUE shares. Citigroup lowered their price target on Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. The Goldman Sachs Group began coverage on shares of Nucor in a research report on Monday, December 2nd. They set a “buy” rating and a $190.00 price target on the stock. UBS Group reiterated a “neutral” rating and issued a $156.00 price objective (down from $171.00) on shares of Nucor in a report on Thursday, December 12th. Jefferies Financial Group raised their price objective on shares of Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Finally, Morgan Stanley cut their target price on Nucor from $166.00 to $154.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Nucor presently has a consensus rating of “Moderate Buy” and an average target price of $163.13.

Nucor Trading Up 2.0 %

Shares of NYSE:NUE opened at $137.52 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51. The stock has a market capitalization of $32.29 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 0.96 and a beta of 1.60. Nucor Co. has a 1-year low of $112.25 and a 1-year high of $203.00. The company has a 50 day moving average price of $126.86 and a 200 day moving average price of $139.55.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.28. Nucor had a return on equity of 9.85% and a net margin of 6.60%. During the same quarter last year, the firm posted $3.16 earnings per share. On average, research analysts anticipate that Nucor Co. will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.55 per share. The ex-dividend date is Monday, March 31st. This represents a $2.20 annualized dividend and a 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.