Taking a Closer Look At Nucor Corporation (NUE) Following Its Recent Trade


Nucor Corporation’s recent filing unveils that its Executive Vice President Murphy Gregory J unloaded Company’s shares for reported $0.41 million on Oct 26. In the deal valued at $137.29 per share,3,000 shares were sold. As a result of this transaction, Murphy Gregory J now holds 49,549 shares worth roughly $ 6.66 million.

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Then, Hollatz John J sold 2,450 shares, generating $329,279 in total proceeds. Upon selling the shares at $134.40, the Executive Vice President now owns 52,282 shares.

Before that, QUERY KENNETH REX sold 5,000 shares. Nucor Corporation shares valued at $708,195 were divested by the Executive Vice President at a price of $141.64 per share. As a result of the transaction, QUERY KENNETH REX now holds 76,100 shares, worth roughly $10.22 million.

JP Morgan reiterated its Nucor Corporation [NUE] rating to a Neutral in a research note published on Monday, June 14, 2022; the price target was $125. PT values the company’s stock at a premium of -7.46 to its Monday closing price. A number of analysts have revised their coverage, including Wolfe Research’s analysts, who decreased its forecast for the stock in mid January from “a Peer perform” to “an Underperform”. Wolfe Research began covering NUE with “Peer perform” recommendation on November 17, 2021. Citigroup revised its rating on November 09, 2021. It rated NUE as “a Neutral” which previously was an “a Buy”.

Price Performance Review of NUE

On Monday, Nucor Corporation [NYSE:NUE] saw its stock jump 0.57% to $134.32. On the same session, the stock had its day’s lowest price of $133.10, but rose to a high of $136.32. Over the last five days, the stock has gained 2.24%. Nucor Corporation shares have risen nearly 17.67% since the year began. Nevertheless, the stocks have risen 19.71% over the past one year. While a 52-week high of $187.90 was reached on 04/21/22, a 52-week low of $88.50 was recorded on 01/24/22. SMA at 50 days reached $124.43, while 200 days put it at $128.80. A total of 1.6 million shares were traded, compared to the trading of 0.36 million shares in the previous session.

Levels Of Support And Resistance For NUE Stock

The 24-hour chart illustrates a support level at 132.84, which if violated will result in even more drops to 131.36. On the upside, there is a resistance level at 136.06. A further resistance level may holdings at 137.80. The Relative Strength Index (RSI) on the 14-day chart is 58.83, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.03, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 23.48%. Stochastics %K at 67.69% indicates the stock is a holding.

How much short interest is there in Nucor Corporation?

A steep rise in short interest was recorded in Nucor Corporation stocks on Jul 14, 2022, dropping by -0.25 million shares to a total of 8.11 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 8.36 million shares. There was a decline of -3.08%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 4.11% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.26.

Nucor Corporation [NUE] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 32,939,522 shares, or roughly 12.58% of the outstanding NUE shares. In other words, the investor’s shares have fallen by -1,241,488 from its previous 13-F filing of 34181010.0. Over the last quarter, SSgA Funds Management, Inc. sold -1,706,465 shares of Nucor Corporation, while Fidelity Management & Research Co sold 859,020 shares. At present, Norges Bank Investment Management is holding 5,990,397 shares valued at $640.91 million. Capital Research & Management Co owned 5,779,589 shares of the company at the time of its most recent 13F filing, worth $618.36 million.


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