Nucor Co. (NUE) Position Trimmed by Brookstone Capital Management

Brookstone Capital Management trimmed its holdings in shares of Nucor Co. (NYSE:NUE) by 7.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,352 shares of the basic materials company’s stock after selling 5,326 shares during the period. Brookstone Capital Management’s holdings in Nucor were worth $4,400,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Stevens Capital Management LP raised its position in Nucor by 3,110.6% during the second quarter. Stevens Capital Management LP now owns 130,961 shares of the basic materials company’s stock valued at $8,185,000 after buying an additional 126,882 shares during the period. Private Trust Co. NA acquired a new position in Nucor during the third quarter valued at $214,000. Janney Montgomery Scott LLC raised its position in Nucor by 1.0% during the second quarter. Janney Montgomery Scott LLC now owns 114,293 shares of the basic materials company’s stock valued at $7,143,000 after buying an additional 1,185 shares during the period. State of Alaska Department of Revenue raised its position in Nucor by 3.3% during the third quarter. State of Alaska Department of Revenue now owns 51,576 shares of the basic materials company’s stock valued at $3,271,000 after buying an additional 1,649 shares during the period. Finally, IMS Capital Management raised its position in Nucor by 326.0% during the second quarter. IMS Capital Management now owns 13,582 shares of the basic materials company’s stock valued at $849,000 after buying an additional 10,394 shares during the period. 77.46% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have commented on NUE shares. ValuEngine upgraded Nucor from a “sell” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research downgraded Nucor from a “buy” rating to a “hold” rating in a research note on Monday, October 29th. Argus restated a “buy” rating on shares of Nucor in a research note on Tuesday, October 23rd. BMO Capital Markets lowered their target price on Nucor from $75.00 to $70.00 and set a “market perform” rating on the stock in a research note on Friday, October 19th. Finally, Citigroup lowered their target price on Nucor from $78.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, October 19th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $73.58.

Shares of NYSE NUE opened at $64.21 on Thursday. The company has a current ratio of 3.15, a quick ratio of 1.69 and a debt-to-equity ratio of 0.42. Nucor Co. has a one year low of $53.71 and a one year high of $70.48. The stock has a market capitalization of $19.75 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 0.68 and a beta of 1.45.

Nucor (NYSE:NUE) last released its quarterly earnings results on Thursday, October 18th. The basic materials company reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.35 by ($0.02). The company had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.64 billion. Nucor had a return on equity of 20.72% and a net margin of 8.79%. The business’s revenue was up 30.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.83 EPS. On average, equities research analysts anticipate that Nucor Co. will post 7.61 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 9th. Stockholders of record on Friday, September 28th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $1.52 annualized dividend and a dividend yield of 2.37%. Nucor’s dividend payout ratio (DPR) is presently 43.30%.

Nucor announced that its board has initiated a stock repurchase program on Thursday, September 6th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the basic materials company to buy up to 10% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

COPYRIGHT VIOLATION NOTICE: This report was originally published by WKRB News and is the sole property of of WKRB News. If you are reading this report on another website, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright legislation. The legal version of this report can be read at https://www.wkrb13.com/2018/11/08/nucor-co-nue-position-trimmed-by-brookstone-capital-management.html.

Nucor Company Profile

Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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; hollow structural section steel tubing, steel electrical conduit, plate steel, and structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, wire rods, and special bar quality; and tubular and plate steel products.

Further Reading: How to Calculate Compound Annual Growth Rate (CAGR)

Want to see what other hedge funds are holding NUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nucor Co. (NYSE:NUE).

Institutional Ownership by Quarter for Nucor (NYSE:NUE)

Receive News & Ratings for Nucor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply