Nucor Target of Unusually High Options Trading (NYSE:NUE)

Nucor Co. (NYSE:NUE) was the recipient of some unusual options trading activity on Friday. Investors bought 13,596 call options on the stock. This is an increase of 41% compared to the average daily volume of 9,624 call options.

Analyst Upgrades and Downgrades

NUE has been the topic of several research analyst reports. Morgan Stanley boosted their target price on shares of Nucor from $154.00 to $167.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. UBS Group reissued a “neutral” rating and set a $156.00 price objective (down from $171.00) on shares of Nucor in a report on Thursday, December 12th. StockNews.com upgraded Nucor from a “sell” rating to a “hold” rating in a research note on Wednesday, February 12th. The Goldman Sachs Group began coverage on Nucor in a research note on Monday, December 2nd. They set a “buy” rating and a $190.00 price target on the stock. Finally, Citigroup reduced their price objective on Nucor from $240.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $164.33.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its position in shares of Nucor by 37.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 83,598 shares of the basic materials company’s stock valued at $9,757,000 after acquiring an additional 22,575 shares during the period. PKO Investment Management Joint Stock Co purchased a new position in Nucor during the fourth quarter worth approximately $1,064,000. Smith Shellnut Wilson LLC ADV grew its holdings in Nucor by 19.0% in the fourth quarter. Smith Shellnut Wilson LLC ADV now owns 3,073 shares of the basic materials company’s stock valued at $359,000 after purchasing an additional 490 shares during the period. Siemens Fonds Invest GmbH increased its position in shares of Nucor by 305.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 12,386 shares of the basic materials company’s stock valued at $1,446,000 after buying an additional 9,332 shares in the last quarter. Finally, Park Square Financial Group LLC acquired a new position in shares of Nucor during the 4th quarter worth approximately $48,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Stock Performance

Shares of NUE stock opened at $122.02 on Friday. The stock has a market cap of $28.13 billion, a PE ratio of 14.51, a price-to-earnings-growth ratio of 0.96 and a beta of 1.58. Nucor has a 52-week low of $112.25 and a 52-week high of $203.00. The business has a 50-day simple moving average of $130.65 and a 200-day simple moving average of $137.75. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.28. Nucor had a return on equity of 9.85% and a net margin of 6.60%. During the same period in the prior year, the firm earned $3.16 earnings per share. On average, equities analysts expect that Nucor will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be given a dividend of $0.55 per share. The ex-dividend date is Monday, March 31st. This represents a $2.20 annualized dividend and a yield of 1.80%. Nucor’s dividend payout ratio is presently 26.16%.

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.