Nucor Corporation on Focus After Bullish Options Activity

 Nucor Corporation on Focus After Bullish Options Activity

In today’s session Nucor Corporation (NUE) registered an unusually high (413) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2017 call, expecting serious NUE increase. With 413 contracts traded and 13004 open interest for the Jan, 17 contract, it seems this is a quite bullish bet. The option with symbol: NUE170120C00052500 closed last at: $0.53 or 55.9% up. About 1.33 million shares traded hands. Nucor Corporation (NYSE:NUE) has risen 1.12% since March 30, 2016 and is uptrending. It has underperformed by 1.90% the S&P500.

Nucor Corporation (NYSE:NUE) Ratings Coverage

Out of 14 analysts covering Nucor Corporation (NYSE:NUE), 7 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 50% are positive. Nucor Corporation has been the topic of 30 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The company was upgraded on Monday, October 5 by Deutsche Bank. The firm has “Neutral” rating given on Tuesday, December 22 by Macquarie Research. The firm earned “Neutral” rating on Wednesday, June 8 by Credit Suisse. Barclays Capital maintained the stock with “Overweight” rating in Monday, October 5 report. On Thursday, September 15 the stock rating was maintained by Jefferies with “Buy”. The rating was upgraded by Nomura on Monday, December 14 to “Buy”. On Tuesday, January 12 the stock rating was maintained by Barclays Capital with “Overweight”. The firm has “Buy” rating by Argus Research given on Friday, June 24. The firm has “Neutral” rating given on Tuesday, May 10 by Rosenblatt. The stock of Nucor Corporation (NYSE:NUE) earned “Neutral” rating by Bank of America on Wednesday, July 20.

According to Zacks Investment Research, “Nucor Corporation manufactures and sells steel products. Principal steel products are hot-rolled steel (angles, rounds, flats, channels, sheet, wide-flange beams, pilings, billets, blooms and beam blanks), cold-rolled steel, cold finished steel, steel joists and joist girders, steel deck, steel fasteners and steel grinding balls. Nucor is the largest recycler in the United States. Nucor and affiliates are manufacturers of steel products, with operating facilities in fourteen states.”

Insitutional Activity: The institutional sentiment increased to 1.1 in 2016 Q2. Its up 0.03, from 1.07 in 2016Q1. The ratio improved, as 43 funds sold all Nucor Corporation shares owned while 216 reduced positions. 75 funds bought stakes while 211 increased positions. They now own 243.85 million shares or 4.24% less from 254.64 million shares in 2016Q1.
Bragg Fin, a North Carolina-based fund reported 13,234 shares. Moreover, Beacon Co has 0.07% invested in Nucor Corporation (NYSE:NUE) for 8,098 shares. Botty Investors Lc holds 0.12% or 4,300 shares in its portfolio. Moreover, Cullinan Associate Inc has 0.02% invested in Nucor Corporation (NYSE:NUE) for 5,900 shares. Parasol Invest Mngmt Llc holds 4,293 shares or 0.22% of its portfolio. Rowland Invest Counsel Adv owns 9,034 shares or 0% of their US portfolio. Prudential owns 1.50 million shares or 0.12% of their US portfolio. Liberty Mutual Gru Asset Mgmt Incorporated has invested 0.03% of its portfolio in Nucor Corporation (NYSE:NUE). The Pennsylvania-based Mycio Wealth Partners Limited Liability Corporation has invested 0% in Nucor Corporation (NYSE:NUE). Bnp Paribas Arbitrage Sa accumulated 161,727 shares or 0.04% of the stock. Moreover, Bartlett & Ltd Co has 0% invested in Nucor Corporation (NYSE:NUE) for 1,301 shares. Croft owns 4,700 shares or 0.05% of their US portfolio. Patten Patten Tn last reported 0.04% of its portfolio in the stock. Argentus Cap Mgmt Ltd Liability holds 0.35% or 16,411 shares in its portfolio. Meiji Yasuda Asset Mngmt last reported 6,864 shares in the company.

Insider Transactions: Since July 25, 2016, the stock had 0 insider purchases, and 5 insider sales for $10.24 million net activity. On Monday, July 25 HALL LADD R sold $4.84M worth of the stock or 92,291 shares. On Thursday, July 28 Frias James D sold $478,269 worth of the stock or 9,000 shares. 71,465 shares were sold by DARSEY JAMES R, worth $3.75M. 10,000 shares were sold by NAPOLITAN RAYMOND S JR, worth $523,899 on Monday, July 25. On Wednesday, July 27 FERRIOLA JOHN J sold $656,345 worth of the stock or 12,128 shares.

Nucor Corporation manufactures steel and steel products. The company has a market cap of $15.74 billion. The Firm also produces direct reduced iron (DRI) for use in the Company’s steel mills. It has a 30.12 P/E ratio. It also processes ferrous and nonferrous metals and brokers ferrous and nonferrous metals, pig iron, hot briquetted iron (HBI) and DRI.

NUE Company Profile

Nucor Corporation (Nucor), incorporated on March 28, 1958, makes steel and steel products. The Firm also produces direct reduced iron (DRI) for use in the Company’s steel mills. It also processes ferrous and nonferrous metals and brokers ferrous and nonferrous metals, pig iron, hot briquetted iron (HBI) and DRI. Nucor operates in three divisions: steel mills, steel products and raw materials. The Company’s activities include several international trading companies that buy and sell steel and steel products manufactured by the Company and others. The Firm is also a recycler in North America, using scrap steel as the primary raw material in producing steel and steel products.

More notable recent Nucor Corporation (NYSE:NUE) news were published by: Fool.com which released: “Key Takeaways From Nucor Corporation’s Third-Quarter Earnings” on October 26, 2016, also Fool.com with their article: “8 Reasons to Buy Nucor Corporation and Never Sell” published on October 18, 2016, Prnewswire.com published: “Nucor Reports Results for Third Quarter and Nine Months of 2016” on October 20, 2016. More interesting news about Nucor Corporation (NYSE:NUE) were released by: Prnewswire.com and their article: “Nucor Restructures Natural Gas Supply Agreements” published on October 04, 2016 as well as Prnewswire.com‘s news article titled: “Ferriola Elected Chairman of World Steel Association” with publication date: October 14, 2016.

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