NUE - Nucor Still As Strong As Steel
2024-02-05 07:50:31 ET
Summary
- Nucor Corp's share price has tripled since the last update, currently trading at around $183 a share.
- Nucor is the largest and most sustainable steelmaker in North America, with a strong balance sheet and shareholder-friendly management. It is a best-of-breed company.
- The company has made strategic investments to expand its value-added steel products and improve its cost structure, positioning it for future growth.
I haven't written to you about Nucor Corp. ( NUE ) since December 2020 .
Since that time, the share price has more than tripled. The latest bid is ~$183. There is absolutely nothing wrong with the company, but the share price is only fair.
Later in this article, we will spend a fair amount of time on valuation.
Nucor: Basic Investment Thesis
Nucor is North America's largest, most-diversified, and sustainable steelmaker. It's also the largest steel recycler. The business is underpinned by a sound balance sheet. Nucor Corp is the only American steel company with an "A" credit rating. (Management points this out on every earnings conference call)....
Nucor Still As Strong As Steel