Brookstone Capital Management Purchases 378 Shares of Nucor Co. (NYSE:NUE)

Brookstone Capital Management increased its holdings in shares of Nucor Co. (NYSE:NUE) by 19.4% during the first quarter, Holdings Channel reports. The fund owned 2,325 shares of the basic materials company’s stock after purchasing an additional 378 shares during the period. Brookstone Capital Management’s holdings in Nucor were worth $460,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NUE. Criterion Capital Advisors LLC bought a new stake in shares of Nucor during the fourth quarter worth $25,000. Rise Advisors LLC bought a new stake in Nucor during the 1st quarter worth about $27,000. Tompkins Financial Corp increased 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 acquiring an additional 104 shares in the last quarter. Fortitude Family Office LLC raised its stake in shares of Nucor by 54.1% in the first quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 59 shares during the last quarter. Finally, Valley National Advisers Inc. lifted its position in shares of Nucor by 716.7% during the fourth 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 in the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor Price Performance

Nucor stock opened at $157.00 on Tuesday. The company has a current ratio of 4.02, a quick ratio of 2.48 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $37.64 billion, a P/E ratio of 9.24 and a beta of 1.57. The business has a 50-day moving average of $166.46 and a 200-day moving average of $177.87. Nucor Co. has a 1 year low of $140.07 and a 1 year high of $203.00.

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

Nucor Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently weighed in on NUE shares. Bank of America dropped their price objective on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. BMO Capital Markets cut their price target on Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a research note on Monday, June 17th. Jefferies Financial Group initiated coverage on Nucor in a research report on Monday, May 20th. They issued a “hold” rating and a $190.00 price objective for the company. JPMorgan Chase & Co. cut their target price on shares of Nucor from $190.00 to $180.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 11th. Finally, Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.