Nucor Corporation (NYSE:NUE) has tumbled 0.3% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 8.21% in the last four weeks. In the past week, the company has outperformed the S&P 500 by 0.9% and the outperformance has advanced to 7.22% for the last 4 weeks period.
Nucor Corporation (NYSE:NUE): The stock opened at $50.81 on Friday but the bulls could not build on the opening and the stock topped out at $51.14 for the day. The stock traded down to $50.22 during the day, due to lack of any buying support eventually closed down at $50.35 with a loss of -0.59% for the day. The stock had closed at $50.65 on the previous day. The total traded volume was 3,038,426 shares.
The company shares have rallied 6.00% from its 1 Year high price. On Jun 8, 2016, the shares registered one year high at $51.99 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $48.74 and the 200 Day Moving Average price is recorded at $43.81.
On the companys insider trading activities, Stratman Robert J, officer (Executive Vice President) of Nucor Corp, unloaded 52,631 shares at an average price of $49.9 on April 29, 2016. The total amount of the transaction was worth $2,626,287, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
Many analysts have stated their opinion on the company shares. Jefferies maintains its view on Nucor Corporation (NYSE:NUE) according to the research report released by the firm to its investors. The shares have now been rated Buy by the stock experts at the ratings house. Jefferies raises the price target from $56 per share to $60 per share on Nucor Corporation. The rating by the firm was issued on June 10, 2016. Currently the company Insiders own 0.63% of Nucor Corporation shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -3.49% . Institutional Investors own 79.26% of Nucor Corporation shares. During last six month period, the net percent change held by insiders has seen a change of -2.88%.
Nucor Corporation (Nucor) manufactures steel and steel products. The Company also produces direct reduced iron (DRI) for use in the Companys steel mills. It also processes ferrous and nonferrous metals and brokers ferrous and nonferrous metals, pig iron, hot briquetted iron (HBI) and DRI. Nucor operates in three segments: steel mills, steel products and raw materials. In the steel mills segment, Nucor produces and distributes sheet steel, plate steel, structural steel and bar steel. In the steel products segment, Nucor produces steel joists and joist girders, steel deck, fabricated concrete reinforcing steel, cold finished steel, steel fasteners, metal building systems, steel grating and expanded metal, and wire and wire mesh. In the raw materials segment, the Company produces DRI; brokers ferrous and nonferrous metals, pig iron, HBI and DRI; supplies ferro-alloys, and processes ferrous and nonferrous scrap metal.