Brookstone Capital Management Sells 109 Shares of Nucor Co. (NYSE:NUE)

Brookstone Capital Management lessened its holdings in Nucor Co. (NYSE:NUE) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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.

A number of other hedge funds also recently made changes to their positions in NUE. Ashton Thomas Securities LLC bought a new stake in Nucor in the third quarter valued at about $26,000. Coastline Trust Co acquired a new stake in Nucor during the third quarter valued at approximately $29,000. Brown Lisle Cummings Inc. bought a new stake in shares of Nucor in the 3rd quarter valued at approximately $30,000. Salomon & Ludwin LLC grew its stake in shares of Nucor by 45.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 72 shares during the period. Finally, Versant Capital Management Inc lifted its position in shares of Nucor by 60.3% during the 4th quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock worth $35,000 after buying an additional 114 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Trading Up 0.8 %

Shares of NUE opened at $124.40 on Monday. The stock’s fifty day simple moving average is $133.52 and its 200-day simple moving average is $144.40. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $29.21 billion, a PE ratio of 12.02 and a beta of 1.60. Nucor Co. has a 12-month low of $112.25 and a 12-month high of $203.00.

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

Nucor Increases Dividend

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

Insiders Place Their Bets

In other Nucor news, EVP Allen C. Behr sold 4,968 shares of Nucor stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $159.72, for a total transaction of $793,488.96. Following the transaction, the executive vice president now directly owns 85,376 shares in the company, valued at approximately $13,636,254.72. The trade was a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kenneth Rex Query sold 9,000 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total value of $1,321,200.00. Following the completion of the sale, the executive vice president now owns 98,770 shares of the company’s stock, valued at $14,499,436. This trade represents a 8.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,680 shares of company stock worth $4,773,724. Insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on NUE shares. The Goldman Sachs Group started coverage on Nucor in a research report on Monday, December 2nd. They issued a “buy” rating and a $190.00 price target on the stock. Morgan Stanley dropped their target price on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Citigroup reduced their price target on shares of Nucor from $240.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. JPMorgan Chase & Co. dropped their price objective on shares of Nucor from $168.00 to $152.00 and set an “overweight” rating for the company in a report on Friday. Finally, Jefferies Financial Group reduced their target price on Nucor from $150.00 to $125.00 and set a “hold” rating on the stock in a report on Monday, January 6th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Nucor has a consensus rating of “Moderate Buy” and a consensus price target of $163.63.

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.