What’s Next for Nucor Corporation After Today’s Bearish Options Activity?

 What's Next for Nucor Corporation After Today's Bearish Options Activity?

In today’s session Nucor Corporation (NUE) recorded an unusually high (470) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the January, 2017 put, expecting serious NUE decrease. With 470 contracts traded and 2904 open interest for the Jan, 17 contract, it seems this is a quite bearish bet. The option with symbol: NUE170120P00055000 closed last at: $1.78 or 63.3% down. About 1.37 million shares traded hands. Nucor Corporation (NYSE:NUE) has risen 24.06% since April 11, 2016 and is uptrending. It has outperformed by 17.92% the S&P500.

Nucor Corporation (NYSE:NUE) Ratings Coverage

Out of 14 analysts covering Nucor Corporation (NYSE:NUE), 9 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 64% are positive. $60 is the highest target while $38 is the lowest. The $51.17 average target is -12.72% below today’s ($58.63) stock price. Nucor Corporation has been the topic of 32 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The stock of Nucor Corporation (NYSE:NUE) has “Overweight” rating given on Tuesday, January 12 by Barclays Capital. The stock of Nucor Corporation (NYSE:NUE) has “Neutral” rating given on Monday, August 22 by Citigroup. The company was upgraded on Wednesday, July 6 by Deutsche Bank. The firm has “Hold” rating by Standpoint Research given on Monday, December 28. The stock has “Buy” rating given by Argus Research on Friday, June 24. As per Monday, December 14, the company rating was upgraded by Nomura. The stock of Nucor Corporation (NYSE:NUE) earned “Hold” rating by Berenberg on Friday, July 22. Cowen & Co maintained Nucor Corporation (NYSE:NUE) rating on Monday, October 26. Cowen & Co has “Market Perform” rating and $49 price target. The rating was maintained by Barclays Capital with “Overweight” on Monday, October 5. The stock of Nucor Corporation (NYSE:NUE) earned “Neutral” rating by Rosenblatt on Friday, October 16.

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 is positive, 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.
Nomura Holding last reported 63,430 shares in the company. Deutsche Bancshares Ag accumulated 0.04% or 1.14 million shares. Checchi Advisers Lc owns 3,421 shares or 0.02% of their US portfolio. Cullinan Associates accumulated 5,900 shares or 0.02% of the stock. Eaton Vance Mgmt accumulated 385,235 shares or 0.06% of the stock. The Ohio-based Park National Corp Oh has invested 0.16% in Nucor Corporation (NYSE:NUE). Amf Pensionsforsakring has 0.02% invested in the company for 38,929 shares. Zacks Inv holds 0.04% of its portfolio in Nucor Corporation (NYSE:NUE) for 29,619 shares. First Interstate National Bank accumulated 697 shares or 0.01% of the stock. Atlantic Tru Group Inc reported 23,092 shares or 0.01% of all its holdings. Raymond James Financial Ser holds 0.06% of its portfolio in Nucor Corporation (NYSE:NUE) for 123,649 shares. Bender Robert has 0.21% invested in the company for 6,079 shares. The Germany-based Commerzbank Aktiengesellschaft Fi has invested 0% in Nucor Corporation (NYSE:NUE). Glg Ltd Liability Corp has 15,184 shares for 0.06% of their US portfolio. The Texas-based Dimensional Fund Advsr Ltd Partnership has invested 0.12% in Nucor Corporation (NYSE:NUE).

Insider Transactions: Since July 25, 2016, the stock had 0 insider purchases, and 5 insider sales for $10.24 million net activity. DARSEY JAMES R also sold $3.75M worth of Nucor Corporation (NYSE:NUE) on Monday, July 25. $656,345 worth of Nucor Corporation (NYSE:NUE) shares were sold by FERRIOLA JOHN J. Shares for $478,269 were sold by Frias James D on Thursday, July 28. Another trade for 92,291 shares valued at $4.84M was made by HALL LADD R on Monday, July 25. Another trade for 10,000 shares valued at $523,899 was made by NAPOLITAN RAYMOND S JR on Monday, July 25.

Nucor Corporation manufactures steel and steel products. The company has a market cap of $19.16 billion. The Firm also produces direct reduced iron (DRI) for use in the Company’s steel mills. It has a 36.72 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 important recent Nucor Corporation (NYSE:NUE) news were published by: Fool.com which released: “8 Reasons to Buy Nucor Corporation and Never Sell” on October 18, 2016, also Fool.com published article titled: “Key Takeaways From Nucor Corporation’s Third-Quarter Earnings”, Prnewswire.com published: “Nucor Completes Acquisition of Independence Tube Corporation” on November 01, 2016. More interesting news about Nucor Corporation (NYSE:NUE) was released by: Prnewswire.com and their article: “Nucor Reports Results for Third Quarter and Nine Months of 2016” with publication date: October 20, 2016.

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