Investors Purchase High Volume of Nucor Put Options (NYSE:NUE)

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

Nucor Stock Up 0.2 %

NUE opened at $191.74 on Tuesday. The firm’s 50-day simple moving average is $191.30 and its 200-day simple moving average is $174.06. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.35 and a current ratio of 3.57. Nucor has a twelve month low of $129.79 and a twelve month high of $203.00. The firm has a market cap of $46.01 billion, a price-to-earnings ratio of 10.66 and a beta of 1.61.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, April 22nd. The basic materials company reported $3.46 earnings per share for the quarter, missing the consensus estimate of $3.60 by ($0.14). The company had revenue of $8.14 billion during the quarter, compared to the consensus estimate of $8.26 billion. Nucor had a return on equity of 21.42% and a net margin of 13.03%. The business’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter last year, the firm earned $4.45 EPS. Equities research analysts anticipate that Nucor will post 12.93 EPS for the current fiscal year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.54 per share. The ex-dividend date is Wednesday, March 27th. This represents a $2.16 annualized dividend and a yield of 1.13%. Nucor’s dividend payout ratio is currently 12.01%.

Analysts Set New Price Targets

NUE has been the topic of a number of recent analyst reports. UBS Group assumed coverage on shares of Nucor in a research note on Tuesday, January 16th. They set a “buy” rating and a $210.00 price objective on the stock. JPMorgan Chase & Co. lifted their price target on Nucor from $180.00 to $195.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Citigroup raised shares of Nucor from a “neutral” rating to a “buy” rating and boosted their target price for the company from $180.00 to $240.00 in a research note on Wednesday, March 13th. Finally, StockNews.com raised shares of Nucor from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $192.83.

Insider Activity at Nucor

In other news, EVP Allen C. Behr sold 10,000 shares of Nucor stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $190.19, for a total value of $1,901,900.00. Following the transaction, the executive vice president now directly owns 80,902 shares of the company’s stock, valued at approximately $15,386,751.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Douglas J. Jellison sold 19,506 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the transaction, the executive vice president now owns 120,738 shares of the company’s stock, valued at $23,351,936.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Allen C. Behr sold 10,000 shares of Nucor stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $190.19, for a total transaction of $1,901,900.00. Following the completion of the transaction, the executive vice president now directly owns 80,902 shares of the company’s stock, valued at approximately $15,386,751.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,151 shares of company stock valued at $7,308,683. Company insiders own 0.64% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Kessler Investment Group LLC raised its stake in shares of Nucor by 1.9% during the first quarter. Kessler Investment Group LLC now owns 32,062 shares of the basic materials company’s stock worth $6,345,000 after buying an additional 605 shares during the last quarter. Nilsine Partners LLC grew its holdings in Nucor by 5.2% during the 1st quarter. Nilsine Partners LLC now owns 1,307 shares of the basic materials company’s stock worth $259,000 after acquiring an additional 65 shares during the period. Sollinda Capital Management LLC bought a new stake in shares of Nucor during the 1st quarter valued at $269,000. Raymond James & Associates lifted its stake in shares of Nucor by 15.2% in the 1st quarter. Raymond James & Associates now owns 187,144 shares of the basic materials company’s stock valued at $37,036,000 after purchasing an additional 24,728 shares during the period. Finally, Accordant Advisory Group Inc bought a new position in shares of Nucor in the 1st quarter worth $1,534,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

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.