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Shell cut most of its Nucor stake, while Nucor's earnings missed estimates despite revenue growth.
Shell Asset Management slashed its Nucor stake by 96.8% in Q3, leaving it with 237 shares worth $32,000, while an executive vice president sold 7,452 shares in February.
Nucor reported Q4 earnings of $1.73 per share, below estimates, with $7.69 billion in revenue, up 8.6% year-over-year.
The company has a market cap of $40.9 billion, a P/E of 23.70, and a $1.6 billion share buyback program.
Analysts maintain a "Moderate Buy" consensus with a $179.36 target.
Nucor’s stock opened at $178.70 on February 24, near its 52-week high of $196.90.
Institutional ownership stands at 76.48%.
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Shell recortó la mayor parte de su participación en Nucor, mientras que las ganancias de Nucor no cumplieron con las estimaciones a pesar del crecimiento de los ingresos.