2024-06-04 09:36:26 ET
Summary
- Nucor is a well-regarded player in the steel industry, combining operating excellence with capital discipline.
- The business has seen peak earnings come down, but earnings remain impressive nonetheless.
- Despite near-term headwinds, Nucor continues to invest in the business and recently announced a $565 million cash deal to acquire Rytec Corp. to create a more stable business.
Shares of Nucor ( NUE ) have come under pressure a bit in recent weeks and months. Early in April, when shares were trading around their highs at $200 per share, I concluded that Nucor has seen a solid start to 2024. At the same time, I offered some cautious words as this great operator operates in a cyclical industry after all, while M&A resulted in potential stronger competitors down the road as well....
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Nucor: Approaching Interesting Territory Again