J2 Capital Management Inc Invests $340,000 in Nucor Co. (NYSE:NUE)

J2 Capital Management Inc bought a new position in Nucor Co. (NYSE:NUE - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,917 shares of the basic materials company's stock, valued at approximately $340,000.

A number of other hedge funds have also bought and sold shares of the business. Ashton Thomas Securities LLC bought a new position in shares of Nucor in the 3rd quarter worth approximately $26,000. Coastline Trust Co purchased a new position in shares of Nucor during the 3rd quarter worth $29,000. Brown Lisle Cummings Inc. purchased a new stake in shares of Nucor in the 3rd quarter worth $30,000. Salomon & Ludwin LLC raised its holdings in Nucor by 45.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company's stock worth $35,000 after purchasing an additional 72 shares during the period. Finally, Versant Capital Management Inc lifted its position in Nucor by 60.3% during the fourth quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company's stock valued at $35,000 after purchasing an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. UBS Group reissued a "neutral" rating and issued a $156.00 price objective (down from $171.00) on shares of Nucor in a research note on Thursday, December 12th. The Goldman Sachs Group began coverage on Nucor in a research note on Monday, December 2nd. They issued a "buy" rating and a $190.00 price target for the company. JPMorgan Chase & Co. lowered their price objective on Nucor from $168.00 to $152.00 and set an "overweight" rating on the stock in a research report on Friday. Morgan Stanley cut their target price on Nucor from $170.00 to $166.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Finally, Citigroup lowered their price target on Nucor from $240.00 to $160.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $163.63.

Nucor Stock Up 0.8 %

NYSE:NUE traded up $1.04 during trading hours on Friday, reaching $124.40. The company's stock had a trading volume of 1,842,859 shares, compared to its average volume of 2,239,521. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59. The company has a market capitalization of $29.21 billion, a P/E ratio of 12.02 and a beta of 1.60. The stock has a 50 day moving average price of $133.52 and a two-hundred day moving average price of $144.40. Nucor Co. has a 12 month low of $112.25 and a 12 month high of $203.00.

Nucor (NYSE:NUE - Get Free Report) last issued its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.40 by $0.09. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The firm had revenue of $7.44 billion during the quarter, compared to analysts' expectations of $7.28 billion. During the same period in the prior year, the business posted $4.57 EPS. The firm's quarterly revenue was down 15.2% on a year-over-year basis. Equities analysts predict that Nucor Co. will post 8.19 EPS for the current fiscal year.

Nucor Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, December 31st will be given a $0.55 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.77%. This is an increase from Nucor's previous quarterly dividend of $0.54. Nucor's payout ratio is presently 21.26%.

Insider Activity at Nucor

In related news, CFO Stephen D. Laxton sold 4,712 shares of Nucor stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total value of $798,825.36. Following the completion of the sale, the chief financial officer now directly owns 82,132 shares in the company, valued at $13,923,837.96. This trade represents a 5.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Allen C. Behr sold 4,968 shares of the company's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $159.72, for a total transaction of $793,488.96. Following the transaction, the executive vice president now owns 85,376 shares in the company, valued at $13,636,254.72. The trade was a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,680 shares of company stock valued at $4,773,724 over the last 90 days. Insiders own 0.46% of the company's stock.

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.