Nucor Co. (NYSE:NUE) Shares Acquired by Brookstone Capital Management

Brookstone Capital Management boosted its holdings in Nucor Co. (NYSE:NUE) by 19.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,325 shares of the basic materials company’s stock after purchasing an additional 378 shares during the quarter. Brookstone Capital Management’s holdings in Nucor were worth $460,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in NUE. Criterion Capital Advisors LLC bought a new position in Nucor during the 4th quarter worth $25,000. Rise Advisors LLC bought a new stake in Nucor in the 1st quarter valued at about $27,000. Tompkins Financial Corp lifted its position in 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 last quarter. Fortitude Family Office LLC boosted its stake 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 purchasing an additional 59 shares during the period. Finally, Valley National Advisers Inc. grew its position in Nucor by 716.7% in the 4th quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 172 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Stock Performance

Shares of NUE opened at $157.00 on Tuesday. Nucor Co. has a 12-month low of $140.07 and a 12-month high of $203.00. The stock has a market capitalization of $37.64 billion, a P/E ratio of 9.24 and a beta of 1.57. The firm’s 50 day moving average is $166.46 and its 200-day moving average is $177.87. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.02 and a quick ratio of 2.48.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.62 by ($0.16). The company had revenue of $8.14 billion during the quarter, compared to the consensus estimate of $8.26 billion. Nucor had a net margin of 12.40% and a return on equity of 19.62%. Nucor’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the company posted $4.45 EPS. Equities research analysts anticipate that Nucor Co. will post 10.84 EPS for the current fiscal year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, June 28th will be paid a $0.54 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.16 dividend on an annualized basis and a yield of 1.38%. Nucor’s dividend payout ratio is currently 12.71%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Jefferies Financial Group assumed coverage on Nucor in a research report on Monday, May 20th. They set a “hold” rating and a $190.00 price objective for the company. StockNews.com lowered Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. BMO Capital Markets reduced their price objective on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a report on Monday, June 17th. Citigroup raised shares of Nucor from a “neutral” rating to a “buy” rating and raised their target price for the company from $180.00 to $240.00 in a research note on Wednesday, March 13th. Finally, Bank of America reduced their price target on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Nucor presently has a consensus rating of “Hold” and a consensus price target of $189.67.

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.