JP Morgan has recently raised Nucor Corp (NUE) stock to Overweight rating, as announced on September 9, 2024, according to Finviz. Earlier, on August 15, 2024, Morgan Stanley had raised the stock rating, setting a price target of $176 for NUE stock. Jefferies also initiated Hold rating with a price target of $190. Additionally, Citigroup raised Buy rating on March 13, 2024, with a target price of $240. UBS analysts, in their report published on January 16, 2024, also initiated Buy rating and set a price target of $210 for Nucor Corp’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
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Nucor Corp (NUE) Stock Trading Recap
On Monday, Nucor Corp (NUE) stock saw a modest uptick, ending the day at $159.06 which represents a slight increase of $0.22 or 0.14% from the prior close of $158.84. The stock opened at $160 and touched a low of $158.66 during the day, reaching a high of $161.17. The volume of shares traded was 2.14 million exceeding the average volume of 1.65 million.
NUE Stock Performance and Moving Averages
In recent trading, Nucor Corp (NUE) stock price has shown some volatility, fluctuating 11.54% over the last five trades and 4.71% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by -8.45%, and it has gained 11.32% in the previous three months. Currently, NUE is trading at 5.83%, 7.34%, and -4.08% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, NUE, a Basic Materials sector stock, is trading -21.65% below its 52-week high but remains 19.22% above its 52-week low. The Average True Range (ATR) (14 days) of 5.42 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
Nucor Corp’s Profitability and Valuation Ratios
Nucor Corp’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of 11.66% and a profit margin of 8.02%, with a gross margin of -8.45%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, Nucor Corp’s market capitalization stands at $36.81 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. The stock’s price-to-earnings (P/E) ratio is 15.37, assessing the company’s valuation relative to its earnings. The forward P/E ratio, which uses projected earnings for the next financial year, is 16.86. Additionally, the Price-to-Sales Ratio is 1.17, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 1.82, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 0.64% of Nucor Corp (NUE)’s shares, while financial institutions hold 80.57%.
Notable insider trades include Topalian Leon J, Chair, President and CEO at Nucor Corp (NUE), who sold 11000 shares on Nov 06 ’24, at $169.11 each, totaling $1.86 million. On Nov 06 ’24, Murphy Gregory J, Executive Vice President, sold 6191 shares for $167.82 each, amounting to $1.04 million. Additionally, on Nov 06 ’24, Laxton Stephen D sold 4712 shares at $169.53 each, generating $0.80 million.
