Home Analysts Viewpoint A company insider recently sold 3,000 shares of Nucor Corporation [NUE]. Should You Sale?

A company insider recently sold 3,000 shares of Nucor Corporation [NUE]. Should You Sale?

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A company insider recently sold 3,000 shares of Nucor Corporation [NUE]. Should You Sale?
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The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Nucor Corporation shares valued at $411,870 were sold by Murphy Gregory J on Oct 26. At $137.29 per share, Murphy Gregory J sold 3,000 shares. The insider’s holdings dropped to 49,549 shares worth approximately $6.38 million following the completion of this transaction.


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Also, Hollatz John J sold 2,450 shares, netting a total of over 329,279 in proceeds. Following the sale of shares at $134.40 each, the insider now holds 52,282 shares.

Before that, QUERY KENNETH REX had sold 5,000 shares from its account. In a trade valued at $708,195, the Executive Vice President traded Nucor Corporation shares for $141.64 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $9.8 million.

As published in a research note from JP Morgan on June 14, 2022, Nucor Corporation [NUE] has been retained to a Neutral and the price target has been revised to $125. This represents a -3.02% premium over Thursday’s closing price. Analysts at Wolfe Research downgraded the stock from ‘”a Peer perform”‘ to ‘”an Underperform”‘ outlook in a report released in mid January. As of November 17, 2021, Wolfe Research has initiated its “Peer perform” rating for NUE. Earlier on November 09, 2021, Citigroup downgraded its rating. Their new recommendation was “a Neutral” for NUE stock which previously was a “a Buy”.

Analyzing NUE Stock Performance

On Thursday, Nucor Corporation [NYSE: NUE] rose 0.04% to $128.77. The stock’s lowest price that day was $126.56, but it reached a high of $130.955 in the same session. During the last five days, there has been a drop of approximately -4.97%. Over the course of the year, Nucor Corporation shares have jumped approximately 12.81%. Shares of the company reached a 52-week high of $187.90 on 04/21/22 and a 52-week low of $88.50 on 01/24/22. A 50-day SMA is recorded $124.77, while a 200-day SMA reached $128.43. Nevertheless, trading volume fell to 1.36 million shares from 1.85 million shares the previous day.

Support And Resistance Levels for Nucor Corporation (NUE)

According to the 24-hour chart, there is a support level at 126.57, which, if violated, would cause prices to drop to 124.37. In the upper region, resistance lies at 130.96. The next price resistance is at 133.16. RSI (Relative Strength Index) is 52.47 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.06, which suggests the price will decrease in the coming days. Percent R is at 46.77%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Nucor Corporation subject to short interest?

Stocks of Nucor Corporation saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.25 million shares to 8.11 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 8.36 million shares. A decline of -3.08% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.26 of the overall float, the days-to-cover ratio (short ratio) decline to 3.26.

Which companies own the most shares of Nucor Corporation (NUE)?

According to The Vanguard Group, Inc. filings, the company currently owns 32,939,522 shares, which is about 12.58% of the total NUE shares outstanding. The investor’s shares have plunged by -1,241,488 from its previous 13-F filing of 34181010.0 shares. BlackRock Fund Advisors acquire a 0.31% interest valued at $1.65 billion while SSgA Funds Management, Inc. sold a -1,706,465 stake. A total of 859,020 shares of Nucor Corporation were sold by Fidelity Management & Research Co during the quarter, and -782,384 were sold by Norges Bank Investment Management. In its current portfolio, Capital Research & Management Co holds 5,779,589 shares valued at $618.36 million.

In terms of Nucor Corporation share price expectations, FactSet research, analysts set an average price target of $128.72 in the next 12 months, down nearly -5.92% from the previous closing price of $128.72. Analysts anticipate Nucor Corporation stock to reach $180.00 by 2022, with the lowest price target being $109.00. In spite of this, 13 analysts ranked Nucor Corporation stock as a Hold at the end of 2022. On October 06, 2021, Goldman assigned a price target of “a Neutral” to the stock and downgraded coverage with a $108.

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