Nucor Corporation (NUE) : Traders are bullish on Nucor Corporation (NUE) as it has outperformed the S&P 500 by a wide margin of 3.86% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.81%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.75% in the last 1 week, and is up 7.34% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 0.27% and the 50-Day Moving Average is 6.06%. Nucor Corporation is up 8.63% in the last 3-month period. Year-to-Date the stock performance stands at 35.27%.
Nucor Corporation (NYSE:NUE): On Fridays trading session , Opening price of the stock was $53.7 with an intraday high of $53.995. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $53.21. However, the stock managed to close at $53.64, a loss of 0.32% for the day. On the previous day, the stock had closed at $53.81. The total traded volume of the day was 2,392,171 shares.
Also, Brokerage firm Berenberg downgrades its rating on Nucor Corporation (NYSE:NUE). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by the firm was issued on July 25, 2016.
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.