Is Nucor Corporation’s Fuel For Real? The Stock Was Bought By Option Traders

 Is Nucor Corporation's Fuel For Real? The Stock Was Bought By Option Traders

In today’s session Nucor Corporation (NUE) registered an unusually high (340) 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 340 contracts traded and 12904 open interest for the Jan, 17 contract, it seems this is a quite bullish bet. The option with symbol: NUE170120C00065000 closed last at: $1.43 or 134.4% up. The stock increased 0.32% or $0.2 on November 23, hitting $62.51. About 2.85M shares traded hands. Nucor Corporation (NYSE:NUE) has risen 26.16% since April 22, 2016 and is uptrending. It has outperformed by 20.75% the S&P500.

Analysts await Nucor Corporation (NYSE:NUE) to report earnings on January, 26. They expect $0.51 earnings per share, up 10.87% or $0.05 from last year’s $0.46 per share. NUE’s profit will be $170.19 million for 30.64 P/E if the $0.51 EPS becomes a reality. After $0.88 actual earnings per share reported by Nucor Corporation for the previous quarter, Wall Street now forecasts -42.05% negative EPS growth.

Nucor Corporation (NYSE:NUE) Ratings Coverage

Out of 14 analysts covering Nucor Corporation (NYSE:NUE), 8 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 57% are positive. Nucor Corporation has been the topic of 33 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The stock of Nucor Corporation (NYSE:NUE) has “Overweight” rating given on Monday, October 5 by Barclays Capital. Standpoint Research initiated the shares of NUE in a report on Monday, December 28 with “Hold” rating. The rating was downgraded by Bank of America on Wednesday, July 20 to “Neutral”. The firm has “Buy” rating given on Wednesday, November 2 by Berenberg. The stock has “Buy” rating given by Jefferies on Wednesday, September 16. The stock of Nucor Corporation (NYSE:NUE) has “Hold” rating given on Wednesday, March 23 by Deutsche Bank. Jefferies maintained the shares of NUE in a report on Thursday, September 15 with “Buy” rating. As per Friday, July 22, the company rating was downgraded by Berenberg. Bank of America upgraded Nucor Corporation (NYSE:NUE) on Wednesday, November 9 to “Buy” rating. The rating was maintained by Cowen & Co on Monday, October 26 with “Market Perform”.

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 decreased to 0.97 in 2016 Q2. Its down 0.13, from 1.1 in 2016Q1. The ratio turned negative, 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.
D E Shaw And Com has 0.06% invested in the company for 673,459 shares. Amica Pension Fund Board Of Trustees holds 0.1% of its portfolio in Nucor Corporation (NYSE:NUE) for 14,959 shares. Grassi Invest Mgmt, a California-based fund reported 76,100 shares. Moreover, Cincinnati Indemnity has 4.81% invested in Nucor Corporation (NYSE:NUE) for 22,500 shares. Northpointe Cap Ltd Liability owns 54,399 shares or 0.32% of their US portfolio. Glg Ltd accumulated 0.06% or 15,184 shares. Stifel last reported 112,282 shares in the company. Pax World Mngmt Limited Liability Co has invested 0.02% of its portfolio in Nucor Corporation (NYSE:NUE). Shinko Asset Management Ltd reported 893 shares or 0% of all its holdings. Fiduciary Tru last reported 5,805 shares in the company. Comerica Secs has 23,072 shares for 0.76% of their US portfolio. Voya Investment Mngmt Ltd Company reported 2.10M shares or 0.25% of all its holdings. The North Dakota-based Invest Centers Of America has invested 0.41% in Nucor Corporation (NYSE:NUE). Moreover, Principal Gru Inc has 0.04% invested in Nucor Corporation (NYSE:NUE) for 537,074 shares. Bnp Paribas Investment Ptnrs Sa has 95,112 shares for 0.04% of their US portfolio.

Insider Transactions: Since July 25, 2016, the stock had 0 buys, and 7 selling transactions for $12.93 million net activity. On Thursday, November 10 the insider DARSEY JAMES R sold $1.75 million. $4.84 million worth of Nucor Corporation (NYSE:NUE) was sold by HALL LADD R. $523,899 worth of Nucor Corporation (NYSE:NUE) shares were sold by NAPOLITAN RAYMOND S JR. $931,996 worth of Nucor Corporation (NYSE:NUE) was sold by Stratman Robert J. Shares for $478,269 were sold by Frias James D on Thursday, July 28. FERRIOLA JOHN J sold $656,345 worth of Nucor Corporation (NYSE:NUE) on Wednesday, July 27.

Nucor Corporation manufactures steel and steel products. The company has a market cap of $20.86 billion. The Firm also produces direct reduced iron (DRI) for use in the Company’s steel mills. It has a 39.15 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 news for Nucor Corporation (NYSE:NUE) were recently published by: Fool.com, which released: “Key Takeaways From Nucor Corporation’s Third-Quarter Earnings” on October 26, 2016. Prnewswire.com‘s article titled: “Nucor Completes Acquisition of Independence Tube Corporation” and published on November 01, 2016 is yet another important article.

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