Nucor Corporation (NUE) has risen sharply, recording gains of 0.68% in the past 4 weeks. However, the stock has corrected -0.17% in the past 1 week, providing a good buying opportunity on dips. Nucor Corporation (NUE) : During the past 4 weeks, traders have been relatively bearish on Nucor Corporation (NUE), hence the stock is down -1.77% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -0.59% relative to the S&P 500.
Nucor Corporation (NYSE:NUE): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $53.34 and $53.14 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $53.57. The buying momentum continued till the end and the stock did not give up its gains. It closed at $53.55, notching a gain of 0.47% for the day. The total traded volume was 1,193,951 . The stock had closed at $53.30 on the previous day.
The stock has recorded a 20-day Moving Average of 1.35% and the 50-Day Moving Average is 4.41%. Nucor Corporation is up 10.52% in the last 3-month period. Year-to-Date the stock performance stands at 35.04%.
Nucor Corporation (NUE) : Average target price received by Nucor Corporation (NUE) is $55.75 with an expected standard deviation of $4.59. The most aggressive target on the stock is $60, whereas the most downbeat target is $44. 10 financial analysts are currently covering the stock.
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.