Traders Buy Large Volume of Put Options on Nucor (NYSE:NUE)

Nucor Co. (NYSE:NUE) was the target of some unusual options trading activity on Monday. Stock traders purchased 14,380 put options on the company. This is an increase of 174% compared to the average volume of 5,252 put options.

Insider Activity

In related news, insider Michael D. Keller sold 3,145 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total transaction of $609,092.15. Following the sale, the insider now directly owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Kenneth Rex Query sold 5,500 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the sale, the executive vice president now directly owns 85,326 shares of the company’s stock, valued at approximately $15,902,206.62. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael D. Keller sold 3,145 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total transaction of $609,092.15. Following the sale, the insider now directly owns 24,873 shares in the company, valued at $4,817,153.91. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,151 shares of company stock valued at $7,308,683. Company insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Nucor

A number of large investors have recently bought and sold shares of the company. United Asset Strategies Inc. raised its position in Nucor by 3.4% during the 1st quarter. United Asset Strategies Inc. now owns 9,247 shares of the basic materials company’s stock worth $1,830,000 after buying an additional 305 shares during the last quarter. Rational Advisors LLC raised its position in Nucor by 119.8% during the 1st quarter. Rational Advisors LLC now owns 288 shares of the basic materials company’s stock worth $57,000 after buying an additional 157 shares during the last quarter. Wesbanco Bank Inc. raised its position in Nucor by 4.3% during the 1st quarter. Wesbanco Bank Inc. now owns 7,802 shares of the basic materials company’s stock worth $1,544,000 after buying an additional 325 shares during the last quarter. Summit Trail Advisors LLC purchased a new position in Nucor during the 1st quarter worth $228,000. Finally, Revisor Wealth Management LLC raised its position in Nucor by 178.7% during the 1st quarter. Revisor Wealth Management LLC now owns 5,222 shares of the basic materials company’s stock worth $971,000 after buying an additional 3,348 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Trading Down 8.9 %

Shares of Nucor stock opened at $174.64 on Wednesday. The company has a fifty day simple moving average of $191.20 and a 200-day simple moving average of $174.18. Nucor has a 12-month low of $129.79 and a 12-month high of $203.00. The company has a current ratio of 3.57, a quick ratio of 2.35 and a debt-to-equity ratio of 0.30. The stock has a market cap of $41.91 billion, a price-to-earnings ratio of 9.71 and a beta of 1.61.

Nucor (NYSE:NUE) last issued its earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.62 by ($0.16). Nucor had a net margin of 13.03% and a return on equity of 21.42%. The company had revenue of $8.14 billion during the quarter, compared to analyst estimates of $8.26 billion. During the same quarter in the previous year, the company posted $4.45 EPS. The company’s quarterly revenue was down 6.6% on a year-over-year basis. On average, equities analysts forecast that Nucor will post 12.93 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Thursday, March 28th will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Wednesday, March 27th. Nucor’s dividend payout ratio is currently 12.01%.

Analysts Set New Price Targets

Several research analysts have commented on NUE shares. StockNews.com cut shares of Nucor from a “buy” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of Nucor from $180.00 to $195.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $180.00 to $240.00 in a report on Wednesday, March 13th. Finally, UBS Group started coverage on shares of Nucor in a report on Tuesday, January 16th. They set a “buy” rating and a $210.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $192.83.

Nucor Company Profile

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.