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 Corp shares valued at $1,860,240 were sold by Topalian Leon J on Nov 06 ’24. At $169.11 per share, Topalian Leon J sold 11,000 shares. The insider’s holdings dropped to 172,136 shares worth approximately $27.74 million following the completion of this transaction.
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Also, Murphy Gregory J sold 6,191 shares, netting a total of over 1,038,974 in proceeds. Following the sale of shares at $167.82 each, the insider now holds 83,434 shares.
Before that, Laxton Stephen D had sold 4,712 shares from its account. In a trade valued at $798,815, the CFO, Treasurer and EVP traded Nucor Corp shares for $169.53 each. Upon closing the transaction, the insider’s holdings decreased to 4,712 shares, worth approximately $13.24 million.
As published in a research note from JP Morgan on September 09, 2024, Nucor Corp [NUE] has been rated up from a Neutral to an Overweight and the price target has been revised to $174 from $170. Analysts at Morgan Stanley upgraded the stock from ‘”an Equal-weight”‘ to ‘”an Overweight”‘ outlook in a report released in mid August. As of May 20, 2024, Jefferies has initiated its “Hold” rating for NUE. Earlier on March 13, 2024, Citigroup upgraded its rating. Their new recommendation was “a Buy” for NUE stock which previously was a “a Neutral”.
Analyzing NUE Stock Performance
During the last five days, there has been a surge of approximately 13.63%. Over the course of the year, Nucor Corp shares have dropped approximately -7.39%. Shares of the company reached a 52-week high of $203.00 on 04/09/24 and a 52-week low of $133.42 on 09/11/24. A 50-day SMA is recorded $147.86, while a 200-day SMA reached $165.99. Nevertheless, trading volume fell to 2.61 million shares from 7.51 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 158.57, which, if violated, would cause prices to drop to 155.96. In the upper region, resistance lies at 166.10. The next price resistance is at 171.02. RSI (Relative Strength Index) is 61.42 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 10.29, which suggests the price will increase in the coming days. Percent R is at 31.06%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
