It depends on:
. The class of the stud, by instance 5-6 tensile strengh (rupture): 5*10=50 daN/mm² , yield (elastic) limit = 5*6=30 daN/mm² which induces the limit of the constraint
. the security factor
. the force you want to apply
An M16 with a 1.5mm thread with a constraint of 10daN/mm² inducing a security factor of 3 (30/10) for a 5-6 class you get:
Force in the stud: 1280 daN
Torque: 3.45 daN.m
Force and constraint are proportional to torque.
Nota: 5-6 is a low class.
As said above a torque of 4 daN.m seems right: force ~ 1500 daN , constraint 11.5 daN/mm² security factor for a lower class 5-6 : 2.6
Paint a small touch of nail polish between nuts and wheel and check it after a running test.