Stock Traders Purchase High Volume of Call Options on Nucor (NYSE:NUE)

Nucor Co. (NYSE:NUE) saw unusually large options trading on Friday. Investors bought 13,596 call options on the company. This is an increase of 41% compared to the average volume of 9,624 call options.

Nucor Price Performance

Shares of NUE stock traded down $7.32 during trading hours on Friday, hitting $122.18. The stock had a trading volume of 3,000,796 shares, compared to its average volume of 1,832,103. Nucor has a one year low of $112.25 and a one year high of $203.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48. The stock’s 50-day moving average price is $130.59 and its two-hundred day moving average price is $138.01. The stock has a market capitalization of $28.17 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 0.96 and a beta of 1.58.

Nucor (NYSE:NUE) last issued its earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate 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 previous year, the business earned $3.16 EPS. Equities analysts forecast that Nucor will post 7.64 EPS for the current year.

Nucor Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NUE. UBS Group reaffirmed a “neutral” rating and issued a $156.00 target price (down from $171.00) on shares of Nucor in a report on Thursday, December 12th. The Goldman Sachs Group initiated 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. increased their price target on Nucor from $150.00 to $156.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Jefferies Financial Group increased their price target on Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Finally, Citigroup cut their price target 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 analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Nucor currently has an average rating of “Moderate Buy” and an average target price of $164.33.

Institutional Investors Weigh In On Nucor

Several large investors have recently added to or reduced their stakes in NUE. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Nucor during the fourth quarter worth approximately $25,000. Crews Bank & Trust bought a new stake in Nucor during the fourth quarter worth approximately $29,000. Putney Financial Group LLC bought a new stake in Nucor during the fourth quarter worth approximately $29,000. New Wave Wealth Advisors LLC bought a new stake in Nucor during the fourth quarter worth approximately $33,000. Finally, Versant Capital Management Inc increased its stake in Nucor by 60.3% during the fourth quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 114 shares during the last quarter. 76.48% of the stock is owned by institutional investors.

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.