NUE Stock Summary and Trading Ideas (Nucor | NYSE:NUE)

Nucor Corp manufactures steel and steel products. The company also produces direct reduced iron for use in its steel mills. The operations include international trading and sales companies that buy and sell steel and steel products manufactured by the company and others. The operating business segments are: steel mills, steel products, and raw materials, the steel mills segment derives maximum revenue. The steel mills segment includes carbon and alloy steel in sheet, bars, structural and plate; steel trading businesses; rebar distribution businesses; and Nucor's equity method investments in NuMit and NJSM.

Nucor trades on the NYSE stock market under the symbol NUE.

As of September 18, 2024, NUE stock price climbed to $142.98 with 1,310,633 million shares trading.

NUE has a beta of 0.66, meaning it tends to be less sensitive to market movements. NUE has a correlation of 0.11 to the broad based SPY ETF.

NUE has a market cap of $34.31 billion. This is considered a Large Cap stock.

Last quarter Nucor reported $8 billion in Revenue and $2.68 earnings per share. This beat revenue expectation by $387 million and exceeded earnings estimates by $.33.

In the last 3 years, NUE stock traded as high as $203.00 and as low as $88.50.

The top ETF exchange traded funds that NUE belongs to (by Net Assets): VTI, VOO, VO, COWZ, SPY.

NUE has underperformed the market in the last year with a price return of -6.6% while the SPY ETF gained +27.8%. NUE has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -8.8% and -1.0%, respectively, while the SPY returned +2.9% and +1.7%, respectively.

NUE support price is $139.50 and resistance is $144.86 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that NUE stock will trade within this expected range on the day.