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)....
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For further details see:
Nucor Still As Strong As Steel