Brookstone Capital Management Reduces Stock Holdings in Nucor Co. (NYSE:NUE)

Brookstone Capital Management lessened its stake in Nucor Co. (NYSE:NUE) by 9.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,171 shares of the basic materials company’s stock after selling 230 shares during the quarter. Brookstone Capital Management’s holdings in Nucor were worth $326,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. CX Institutional lifted its stake in shares of Nucor by 52.8% in the second quarter. CX Institutional now owns 17,245 shares of the basic materials company’s stock worth $2,726,000 after acquiring an additional 5,960 shares in the last quarter. Newbridge Financial Services Group Inc. grew its position in shares of Nucor by 94.2% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,855 shares of the basic materials company’s stock worth $323,000 after buying an additional 900 shares in the last quarter. Norden Group LLC acquired a new stake in shares of Nucor during the first quarter worth approximately $1,847,000. Banco Santander S.A. increased its stake in shares of Nucor by 86.2% in the first quarter. Banco Santander S.A. now owns 12,895 shares of the basic materials company’s stock worth $2,552,000 after buying an additional 5,971 shares during the last quarter. Finally, Ascension Asset Management LLC bought a new position in Nucor during the 2nd quarter valued at $885,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Transactions at Nucor

In related news, EVP Daniel R. Needham sold 8,624 shares of Nucor stock in a transaction dated 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 sale, the executive vice president now directly owns 99,049 shares in the company, valued at $15,847,840. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.46% of the company’s stock.

Nucor Price Performance

Shares of NYSE NUE opened at $152.98 on Tuesday. Nucor Co. has a 1-year low of $133.42 and a 1-year high of $203.00. The firm has a market capitalization of $36.68 billion, a PE ratio of 9.00 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85. The business’s fifty day moving average price is $146.72 and its two-hundred day moving average price is $161.43.

Nucor (NYSE:NUE) last issued its quarterly earnings data 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 firm had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $7.69 billion. During the same period last year, the firm posted $5.81 EPS. Nucor’s quarterly revenue was down 15.2% compared to the same quarter last year. On average, research analysts expect that Nucor Co. will post 9.1 EPS for the current year.

Nucor Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 1.41%. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NUE. BMO Capital Markets dropped their target price on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research report on Wednesday, September 18th. Bank of America lowered their price objective on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Morgan Stanley decreased their target price on Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a research report on Wednesday, September 18th. JPMorgan Chase & Co. dropped their price target on Nucor from $174.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Finally, Argus raised shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $191.43.

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.