Nucor Sees Unusually Large Options Volume (NUE)

Nucor Co. (NYSE:NUE) was the recipient of some unusual options trading on Friday. Stock investors bought 20,619 call options on the company. This represents an increase of approximately 1,723% compared to the typical daily volume of 1,131 call options.

Several research firms have commented on NUE. ValuEngine upgraded Nucor from a “hold” rating to a “buy” rating in a research report on Friday. Credit Suisse Group lowered their price objective on Nucor from $68.00 to $63.00 and set a “buy” rating on the stock in a research report on Thursday, September 28th. Bank of America lowered their price objective on Nucor from $73.00 to $71.00 and set a “buy” rating on the stock in a research report on Friday, October 20th. Longbow Research lowered Nucor from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $55.01 to $56.04 in a research report on Monday, October 2nd. Finally, Jefferies Group set a $68.00 price objective on Nucor and gave the stock a “buy” rating in a research report on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $67.32.

Nucor (NUE) opened at $57.30 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 2.11. The firm has a market capitalization of $18,216.64, a P/E ratio of 16.85, a PEG ratio of 1.29 and a beta of 1.58. Nucor has a 52 week low of $51.67 and a 52 week high of $68.00.

Nucor (NYSE:NUE) last announced its earnings results on Thursday, October 19th. The basic materials company reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.01. The business had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.19 billion. Nucor had a return on equity of 12.78% and a net margin of 5.80%. The business’s quarterly revenue was up 20.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.88 EPS. research analysts anticipate that Nucor will post 3.69 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Friday, September 29th were paid a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend was Thursday, September 28th. Nucor’s payout ratio is 43.90%.

In other Nucor news, Chairman John J. Ferriola sold 15,131 shares of the company’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $60.40, for a total value of $913,912.40. Following the sale, the chairman now owns 349,506 shares in the company, valued at approximately $21,110,162.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Victoria F. Haynes sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $55.16, for a total value of $137,900.00. Following the completion of the sale, the director now owns 33,573 shares in the company, valued at approximately $1,851,886.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,217 shares of company stock worth $2,608,231. 0.70% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in NUE. Jennison Associates LLC raised its stake in Nucor by 1.4% in the 2nd quarter. Jennison Associates LLC now owns 7,140 shares of the basic materials company’s stock valued at $413,000 after purchasing an additional 99 shares during the last quarter. CWA Asset Management Group LLC raised its stake in Nucor by 7.1% in the 2nd quarter. CWA Asset Management Group LLC now owns 35,994 shares of the basic materials company’s stock valued at $2,083,000 after purchasing an additional 2,380 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Nucor by 8.9% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 46,237 shares of the basic materials company’s stock valued at $2,676,000 after purchasing an additional 3,792 shares during the last quarter. Swiss National Bank raised its stake in Nucor by 3.1% in the 2nd quarter. Swiss National Bank now owns 1,163,561 shares of the basic materials company’s stock valued at $67,335,000 after purchasing an additional 35,100 shares during the last quarter. Finally, Flippin Bruce & Porter Inc. raised its stake in Nucor by 1,802.0% in the 3rd quarter. Flippin Bruce & Porter Inc. now owns 82,298 shares of the basic materials company’s stock valued at $4,612,000 after purchasing an additional 77,971 shares during the last quarter. 74.56% of the stock is owned by institutional investors and hedge funds.

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About Nucor

Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).

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