B. Riley Wealth Advisors Inc. Sells 2,708 Shares of Nucor Co. (NYSE:NUE)

B. Riley Wealth Advisors Inc. reduced its stake in Nucor Co. (NYSE:NUE) by 40.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,974 shares of the basic materials company’s stock after selling 2,708 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Nucor were worth $630,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. McClarren Financial Advisors Inc. lifted its holdings in Nucor by 129.0% during the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 89 shares in the last quarter. Rise Advisors LLC acquired a new stake in shares of Nucor in the 1st quarter valued at about $27,000. Chilton Capital Management LLC raised its stake in shares of Nucor by 94.2% in the 1st quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 65 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of Nucor in the 1st quarter valued at about $28,000. Finally, Tompkins Financial Corp raised its stake in shares of Nucor by 208.0% in the 1st quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 104 shares during the period. 76.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on NUE shares. Argus raised Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Bank of America lowered their target price on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. JPMorgan Chase & Co. raised Nucor from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $170.00 to $174.00 in a research report on Monday, September 9th. Morgan Stanley lowered their target price on Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. Finally, BMO Capital Markets lowered their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $192.00.

Insider Transactions at Nucor

In other news, EVP Daniel R. Needham sold 8,624 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the completion of the transaction, the executive vice president now directly owns 99,049 shares in the company, valued at approximately $15,847,840. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.46% of the company’s stock.

Nucor Trading Up 0.1 %

Shares of NYSE:NUE opened at $151.44 on Friday. Nucor Co. has a 12-month low of $133.42 and a 12-month high of $203.00. The stock has a market cap of $36.31 billion, a PE ratio of 8.91 and a beta of 1.55. The business has a 50 day moving average of $147.33 and a 200-day moving average of $163.53. The company has a quick ratio of 1.85, a current ratio of 2.93 and a debt-to-equity ratio of 0.26.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.37. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The business had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $7.69 billion. During the same period in the previous year, the company posted $5.81 earnings per share. The firm’s revenue for the quarter was down 15.2% compared to the same quarter last year. As a group, equities research analysts forecast that Nucor Co. will post 9.28 earnings per share for the current year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be given a dividend of $0.54 per share. The ex-dividend date is Friday, September 27th. This represents a $2.16 annualized dividend and a yield of 1.43%. Nucor’s dividend payout ratio is currently 12.71%.

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.