NUE - It's Time To Book Huge Profits On Nucor Corporation Investments
2024-03-25 14:12:42 ET
Summary
- Nucor Corporation hit an all-time high of $198.61 early trading on March 25 and has risen 450% since my original buy article in 2016.
- Management recently issued Q1 EPS guidance of $3.55-$3.65.
- While Nucor is a "dividend aristocrat," and it currently yields only 1.1% and has a P/E of 15.8x based on my forecasted 2024 EPS.
- Nucor is a first class long-term "green" investment.
Late last week I sold most of my Nucor Corporation ( NUE ) stock, because I think the stock market is too high and because of issues specific to Nucor. NUE has soared 450% (568% total return) since my January 2016 buy recommendation article compared to 175% for the S&P 500, and it might be a good time to book some profits. While Nucor Corporation is a great company, there are a few negative signs that concern me, especially with NUE trading at almost $200 per share....
It's Time To Book Huge Profits On Nucor Corporation Investments