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Insider Selling: Utermark D. Chad, Nucor Corp. [NUE] Executive Vice President divested 33,068 shares

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Nucor Corp. shares valued at $6,459,044 were sold by Utermark D. Chad on Mar 22 ’24. At $195.33 per share, Utermark D. Chad sold 33,068 shares. The insider’s holdings dropped to 206,078 shares worth approximately $32.27 million following the completion of this transaction.

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Also, Jellison Douglas J sold 19,506 shares, netting a total of over 3,772,635 in proceeds. Following the sale of shares at $193.41 each, the insider now holds 120,738 shares.

Before that, Keller Michael D had sold 3,145 shares from its account. In a trade valued at $609,091, the Vice Pres. and Corp. Contro traded Nucor Corp. shares for $193.67 each. Upon closing the transaction, the insider’s holdings decreased to 3,145 shares, worth approximately $3.9 million.

As published in their initiating research note from Jefferies on May 20, 2024, Nucor Corp. [NUE] has been a Hold and the price target has been revised to $190. Analysts at Citigroup upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in mid March. As of January 16, 2024, UBS has initiated its “Buy” rating for NUE. Earlier on October 16, 2023, JP Morgan upgraded its rating. Their new recommendation was “a Neutral” for NUE stock which previously was a “an Underweight”.

Analyzing NUE Stock Performance

During the last five days, there has been a surge of approximately 1.32%. Over the course of the year, Nucor Corp. shares have dropped approximately -10.02%. Shares of the company reached a 52-week high of $203.00 on 04/09/24 and a 52-week low of $149.12 on 06/14/24. A 50-day SMA is recorded $165.49, while a 200-day SMA reached $170.51. Nevertheless, trading volume fell to 0.74 million shares from 1.14 million shares the previous day.

Support And Resistance Levels for Nucor Corp. (NUE)

According to the 24-hour chart, there is a support level at 155.25, which, if violated, would cause prices to drop to 154.09. In the upper region, resistance lies at 158.34. The next price resistance is at 160.27. RSI (Relative Strength Index) is 42.28 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.88, which suggests the price will decrease in the coming days. Percent R is at 35.51%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

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