Nucor Corp. (NYSE: NUE) is 14.09% higher on its value in year-to-date trading and has touched a low of $129.79 and a high of $198.61 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The NUE stock was last observed hovering at around $194.06 in the last trading session, with the day’s gains setting it 4.5%.
Currently trading at $198.56, the stock is 5.03% and 7.78% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.86 million and changing 2.32% at the moment leaves the stock 18.61% off its SMA200. NUE registered 32.99% gain for a year compared to 6-month gain of 30.86%. The firm has a 50-day simple moving average (SMA 50) of $1.36 and a 200-day simple moving average (SMA200) of $6.16.
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The stock witnessed a 2.82% loss in the last 1 month and extending the period to 3 months gives it a 11.39%, and is 2.61% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.88% over the week and 2.21% over the month.
Nucor Corp. (NUE) has around 32000 employees, a market worth around $47.80B and $34.71B in sales. Current P/E ratio is 11.03 and Fwd P/E is 15.23. Profit margin for the company is 12.99%. Distance from 52-week low is 52.99% and -0.03% from its 52-week high. The company has generated returns on investments over the last 12 months (16.29%).
Nucor Corp. quarterly earnings per share for the current quarter are estimated at $3.66 with sales reaching $8.32B over the same period.The EPS is expected to shrink by -25.16% this year, but quarterly earnings will post -6.50% year-over-year. Quarterly sales are estimated to shrink -7.60% in year-over-year returns.
1,639 institutions hold shares in Nucor Corp. (NUE), with institutional investors hold 81.82% of the company’s shares. The shares outstanding are 244.90M, and float is at 238.97M with Short Float at 2.14%. Institutions hold 81.35% of the Float.
The top institutional shareholder in the company is Vanguard Group Inc with over 30.49 million shares valued at $5.0 billion. The investor’s holdings represent 12.26% of the NUE Shares outstanding. As of Jun 29, 2023, the second largest holder is State Farm Mutual Automobile Insurance Co with 27.04 million shares valued at $4.43 billion to account for 10.87% of the shares outstanding. The other top investors are Blackrock Inc. which holds 21.84 million shares representing 8.78% and valued at over $3.58 billion, while State Street Corporation holds 4.98% of the shares totaling 12.39 million with a market value of $2.03 billion.
Nucor Corp. (NUE) Insider Activity
The most recent transaction is an insider sale by Utermark D. Chad, the company’s Executive Vice President. SEC filings show that Utermark D. Chad sold 33,068 shares of the company’s common stock on Mar 22 ’24 at a price of $195.33 per share for a total of $6.46 million. Following the sale, the insider now owns 0.21 million shares.
Nucor Corp. disclosed in a document filed with the SEC on Mar 21 ’24 that Jellison Douglas J (Executive Vice President) sold a total of 19,506 shares of the company’s common stock. The trade occurred on Mar 21 ’24 and was made at $193.41 per share for $3.77 million. Following the transaction, the insider now directly holds 0.12 million shares of the NUE stock.
Still, SEC filings show that on Mar 21 ’24, Keller Michael D (Vice Pres. and Corp. Contro) disposed off 3,145 shares at an average price of $193.67 for $0.61 million. The insider now directly holds 24,873 shares of Nucor Corp. (NUE).
