Linscomb Wealth Inc. Sells 744 Shares of Nucor Co. (NYSE:NUE)

Linscomb Wealth Inc. reduced its stake in shares of Nucor Co. (NYSE:NUE) by 7.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,231 shares of the basic materials company’s stock after selling 744 shares during the period. Linscomb Wealth Inc.’s holdings in Nucor were worth $1,459,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. HHM Wealth Advisors LLC raised its position in Nucor by 769.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 200 shares during the last quarter. Headlands Technologies LLC raised its position in shares of Nucor by 165.8% in the 2nd quarter. Headlands Technologies LLC now owns 707 shares of the basic materials company’s stock worth $112,000 after acquiring an additional 441 shares in the last quarter. Choreo LLC raised its position in shares of Nucor by 165.5% in the 2nd quarter. Choreo LLC now owns 9,735 shares of the basic materials company’s stock worth $1,529,000 after acquiring an additional 6,068 shares in the last quarter. McBroom & Associates LLC raised its position in shares of Nucor by 1.0% in the 2nd quarter. McBroom & Associates LLC now owns 28,390 shares of the basic materials company’s stock worth $4,488,000 after acquiring an additional 281 shares in the last quarter. Finally, Quest Partners LLC bought a new position in shares of Nucor in the 2nd quarter worth about $185,000. 76.48% of the stock is owned by institutional investors.

Insider Transactions at Nucor

In other news, EVP Daniel R. Needham sold 8,624 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total value of $1,379,840.00. Following the transaction, the executive vice president now owns 99,049 shares in the company, valued at approximately $15,847,840. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on NUE. BMO Capital Markets lowered their price objective on Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a research report on Monday, June 17th. Argus raised Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Morgan Stanley raised Nucor from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $187.00 to $176.00 in a research report on Thursday, August 15th. Jefferies Financial Group started coverage on Nucor in a research note on Monday, May 20th. They issued a “hold” rating and a $190.00 target price for the company. Finally, JPMorgan Chase & Co. upgraded Nucor from a “neutral” rating to an “overweight” rating and raised their target price for the company from $170.00 to $174.00 in a research note on Monday. Three research 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’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $195.00.

Nucor Price Performance

NUE stock opened at $137.77 on Thursday. The company has a market capitalization of $33.03 billion, a P/E ratio of 8.10 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.85 and a current ratio of 2.93. Nucor Co. has a 52-week low of $133.42 and a 52-week high of $203.00. The business has a 50-day simple moving average of $151.24 and a two-hundred day simple moving average of $168.29.

Nucor (NYSE:NUE) last announced its earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.37. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The firm had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $7.69 billion. During the same quarter in the previous year, the business earned $5.81 EPS. The company’s revenue was down 15.2% compared to the same quarter last year. Research analysts expect that Nucor Co. will post 9.91 EPS for the current fiscal year.

Nucor 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.