Brookstone Capital Management Has $241,000 Stock Holdings in Nucor Co. (NYSE:NUE)

Brookstone Capital Management lowered its stake in Nucor Co. (NYSE:NUE) by 5.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,062 shares of the basic materials company’s stock after selling 109 shares during the quarter. Brookstone Capital Management’s holdings in Nucor were worth $241,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Renaissance Technologies LLC grew its stake in shares of Nucor by 4.3% in the second quarter. Renaissance Technologies LLC now owns 9,700 shares of the basic materials company’s stock valued at $1,533,000 after buying an additional 400 shares in the last quarter. Brighton Jones LLC grew its position in shares of Nucor by 3.3% in the 2nd quarter. Brighton Jones LLC now owns 2,218 shares of the basic materials company’s stock valued at $351,000 after acquiring an additional 71 shares during the period. Ieq Capital LLC increased its stake in shares of Nucor by 1.6% during the 2nd quarter. Ieq Capital LLC now owns 12,890 shares of the basic materials company’s stock worth $2,038,000 after purchasing an additional 200 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Nucor by 9.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 220,320 shares of the basic materials company’s stock worth $34,828,000 after purchasing an additional 18,200 shares during the last quarter. Finally, Bridges Investment Management Inc. bought a new position in Nucor during the second quarter worth about $276,000. Institutional investors own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Jefferies Financial Group cut their price objective on Nucor from $150.00 to $125.00 and set a “hold” rating for the company in a research report on Monday, January 6th. The Goldman Sachs Group assumed coverage on Nucor in a report on Monday, December 2nd. They set a “buy” rating and a $190.00 price target for the company. JPMorgan Chase & Co. dropped their price objective on shares of Nucor from $168.00 to $152.00 and set an “overweight” rating on the stock in a research report on Friday. UBS Group reaffirmed a “neutral” rating and set a $156.00 target price (down previously from $171.00) on shares of Nucor in a report on Thursday, December 12th. Finally, Citigroup lowered their price target on shares of Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Four 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.63.

Nucor Price Performance

Shares of Nucor stock opened at $124.40 on Monday. The company has a 50-day simple moving average of $133.52 and a two-hundred day simple moving average of $144.40. Nucor Co. has a twelve month low of $112.25 and a twelve month high of $203.00. The stock has a market capitalization of $29.21 billion, a price-to-earnings ratio of 12.02 and a beta of 1.60. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.09. The company had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The firm’s quarterly revenue was down 15.2% on a year-over-year basis. During the same period in the previous year, the business earned $4.57 earnings per share. Analysts forecast that Nucor Co. will post 8.19 EPS for the current year.

Nucor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Tuesday, December 31st will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Nucor’s previous quarterly dividend of $0.54. Nucor’s payout ratio is 21.26%.

Insider Buying and Selling

In related news, CFO Stephen D. Laxton sold 4,712 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total transaction of $798,825.36. Following the completion of the sale, the chief financial officer now directly owns 82,132 shares in the company, valued at $13,923,837.96. This represents a 5.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Leon J. Topalian sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total value of $1,860,210.00. Following the completion of the sale, the chief executive officer now directly owns 172,136 shares in the company, valued at $29,109,918.96. This trade represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,680 shares of company stock valued at $4,773,724 over the last quarter. 0.46% of the stock is owned by company insiders.

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.