B. Riley Wealth Advisors Inc. Grows Stock Holdings in Nucor Co. (NYSE:NUE)

B. Riley Wealth Advisors Inc. grew its stake in shares of Nucor Co. (NYSE:NUE) by 5.4% in the first quarter, Holdings Channel.com reports. The fund owned 6,682 shares of the basic materials company’s stock after purchasing an additional 341 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Nucor were worth $1,322,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. SVB Wealth LLC boosted its position in shares of Nucor by 1.5% in the 4th quarter. SVB Wealth LLC now owns 3,656 shares of the basic materials company’s stock worth $636,000 after buying an additional 54 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Nucor by 6.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the basic materials company’s stock valued at $151,000 after purchasing an additional 54 shares during the last quarter. Kestra Private Wealth Services LLC increased its stake in shares of Nucor by 0.8% during the 4th quarter. Kestra Private Wealth Services LLC now owns 7,191 shares of the basic materials company’s stock worth $1,252,000 after purchasing an additional 55 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC raised its position in shares of Nucor by 36.6% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 220 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 59 shares during the last quarter. Finally, Fortitude Family Office LLC grew its holdings in Nucor by 54.1% during the 1st quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock valued at $33,000 after buying an additional 59 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Bank of America dropped their price objective on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. Jefferies Financial Group initiated coverage on Nucor in a report on Monday, May 20th. They set a “hold” rating and a $190.00 price objective on the stock. StockNews.com downgraded Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. lowered their price target on Nucor from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Tuesday, July 16th. Finally, BMO Capital Markets cut their price objective on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a report on Monday, June 17th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $191.29.

Nucor Stock Performance

Nucor stock opened at $161.17 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85. Nucor Co. has a 12 month low of $140.07 and a 12 month high of $203.00. The company has a market cap of $38.64 billion, a price-to-earnings ratio of 9.58 and a beta of 1.57. The stock’s 50-day moving average is $159.82 and its 200-day moving average is $175.47.

Nucor (NYSE:NUE) last posted its earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.37. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The business had revenue of $8.08 billion for the quarter, compared to analyst estimates of $7.69 billion. During the same quarter in the previous year, the business posted $5.81 EPS. The business’s quarterly revenue was down 15.2% on a year-over-year basis. Equities analysts anticipate that Nucor Co. will post 10.57 earnings per share for the current year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, June 28th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.34%. Nucor’s dividend payout ratio (DPR) is currently 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.