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Nucor Corporation (NUE)

NYSE - NYSE Delayed Price. Currency in USD
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55.76-0.12 (-0.21%)
At close: 4:00PM EST

55.98 +0.22 (0.39%)
After hours: 5:16PM EST

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  • D
    Someone just bought 68,000 shares of NUCOR before the close today.... Not much chatter here, but I am long on Nucor. Great company, I think earnings results will have this over $60 before end of January
  • c
    steel prices through the roof. What a total scam of a stock market.
  • B
    Most stocks Cramer recommends drop the following day.
  • B
    $60 by mid-January
  • j
    The market transfers wealth from the impatient to the patient - Warren Buffet

    Long NUE! Great company! Great management.

    Good luck to all longs!
  • Y
    Yahoo Finance Insights
    Nucor reached a 52 Week high at 58.35
  • Y
    Yahoo Finance Insights
    Nucor is down 4.94% to 47.58
  • Y
    Yahoo Finance Insights
    Nucor is up 4.94% to 54.21
  • Y
    Yahoo Finance Insights
    Nucor is up 4.90% to 56.30
  • p
    two consecutive days of strong falls, and I understand this company less every day, interest rates fell 0.25% yesterday, which is supposed to be very good for steel and NUE fell hard, today they announce additional tariffs on Chinese producers and NUE falls hard, supposedly months ago these same companies were pushing for tariffs on China to stop the entry of cheap steel to the US, and now it seems that this is not good for steel companies either, can someone explain to me what I do not understand?
  • Y
    Yahoo Finance Insights
    Nucor is up 5.91% to 51.28
  • j
    Bought in today. Waiting for infrastructure bill now :)
  • D
    I can't understand why this is up so much. job sites are closed, automakers are closed. Who is buying steel? there is no income, but company is spending millions on new locations (sites are closed) but the bills still come in.
    good purchase for 2-3 years down the road, I guess, but I think it's going to drop around earnings. wouldnt be surprised if they put a hold on dividends.
  • t
    If the steel industry has a supply glut, why are they increasing capital expenditures so much next year?
  • A
    A Magnum
    NUE Reported first-quarter earnings of $501.8 million this morning.
    On a per-share basis, the Charlotte, North Carolina-based company said it had profit of $1.63. Earnings, adjusted for non-recurring gains, came to $1.55 per share.
    The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.50 per share.
    The steel company posted revenue of $6.1 billion in the period, which also topped Street forecasts. Four analysts surveyed expected $6.03 billion.
    A positive surprise for NUE shareholders, Long and Happy Investing!
  • J
    Nucor is the BEST American steel company and pays 3.92% dividend.
  • J
    Worth Reading

    The following is my own analysis. Not a gimmick like a lot of post most people see here.

    Nucor (NUE) price will continue to fall into 2020. NUE is a mini mill, meaning they produce metal product using scrap metal. NUE's total expenses can be seen as their input cost (scrap metal) + internal cost (I.E. financing, SG&A, Processing, ETC.)

    NUE's internal cost is relatively stagnant as technology has had limited changes in the past 5-10 years.

    NUE's input cost has seen increases in 2019, and currently sits $285/st, forecast believe the price will continue to increase before plateauing do to supply of carbon based scrap metal.

    Future contracts on hot rolled coil (the base material produced by Nucor, this is what Nucor actually sells) are expected to remain stagnant at $562/st into Q1 of 2020. OEM's and Service centers are holding inventory and preparing for a buyers market for 2020 negotiations.

    With NUE selling their product at $562/st with a material cost of $285/st, and an expected internal cost of $200-$250/st. They have a small margin to work with. This margin pressure is why we have seen a decrease in capacity, as it's not cost efficient to run at full capacity at a low margin. This is also why integrated mills have shut down capacity as their input cost of iron ore exceeds the scrap cost and they are near a negative margin.

    Further risk comes from the Chinese trade war. A resolution in the trade war will almost guarantee a decrease in hot rolled coil, as foreign competitors will enter North American markets without the 232 tariff. Allowing them to offer more competitive prices against North American mills. This pressure will either push metal price down or hold them stagnant, but it will in now way increase the sell price of metal.

    NUE is in a tough position right now, hot roll coil cost are very low and the current political and market conditions are not showing much promise for a rebound.

    I know there is a lot of spam in these comment sections, so I hope this info helps others consider NUE from multiple angles.
  • C
    Used the selloff of more than 7% in NUE this morning to create a new position at 45.49. Thinking the short term selloff will equate to long term profits for me.
  • j
    NUE still at bargain basement prices! Great balance sheet, great management, and a solid, safe dividend.
  • m
    Still remains a relatively safe play in this uncertain world. Slowly buying Nucor on this market shift down.