50.33 0.00 (0.00%)
After hours: 4:27PM EST
|Bid||50.19 x 1000|
|Ask||51.31 x 800|
|Day's Range||49.84 - 51.59|
|52 Week Range||46.10 - 62.31|
|Beta (5Y Monthly)||1.65|
|PE Ratio (TTM)||8.58|
|Forward Dividend & Yield||1.61 (3.11%)|
|Ex-Dividend Date||Dec 29, 2019|
|1y Target Est||N/A|
Seven Charlotte-area corporations — including Nucor Corp., Bank of America Corp., Honeywell International Inc. and Duke Energy Corp. — appear on Fortune magazine’s newly released list of the "World’s Most Admired Companies."
Nucor (NUE) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Moody's Investors Service upgraded Zekelman Industries, Inc.'s corporate family rating (CFR) to Ba3 from B1, its probability of default rating (PDR) to Ba3-PD from B1-PD, its senior secured notes rating to B2 from B3, and assigned a Ba3 rating to the proposed $900 million senior secured term loan. Zekelman plans to use the proceeds from the new term loan to pay off its existing term loan which matures in June 2021.
Many investors, including Paul Tudor Jones or Stan Druckenmiller, have been saying before 2018's Q4 market crash that the stock market is overvalued due to a low interest rate environment that leads to companies swapping their equity for debt and focusing mostly on short-term performance such as beating the quarterly earnings estimates. In the first […]
The Trump administration's trade actions largely contributed to the year-over-year declines in total and finished U.S. steel imports in 2019.
(Bloomberg) -- Nucor Corp., the largest U.S. steelmaker, raised prices for a fifth time since late October, adding to signs of a rebound in the industry as the world’s top producer ArcelorMittal and Russia’s NLMK also announced increases.The cost for new orders of hot-rolled, cold-rolled and galvanized sheet will increase by at least $40 a short ton, effective immediately, Nucor said in a letter to clients Wednesday. Arcelor and NLMK lifted U.S. prices on some products by the same amount, with NLMK telling customers the boost was “due to extending lead times and strong order placement.”U.S. Midwest domestic hot-rolled coil steel index futures have rebounded 19% from a three-year low in November as economic sentiment mends and the U.S. housing market strengthens. Declining mortgage rates are making homes more affordable, boosting demand for steel used in construction, Commercial Metals Co. Chief Executive Office Barbara Smith said in an interview Monday.Nucor’s price increase is “a positive for steel sector sentiment,” Jefferies LLC analysts including Martin Englert and Alan Spence said in an emailed note. “The move will be broadly supported by peers.”“We are not surprised” to see a mill that uses ferrous scrap to make products lead the charge, said Cowen & Co. analyst Tyler Kenyon. Prices of ferrous scrap are expected to settle higher this month from December, while “positive supply-side sentiment” from U.S. Steel Corp.’s idling of its Great Lakes facility and an unplanned outage at Arcelor’s Indiana Harbor East complex may also help, according to Kenyon.A phase-one trade deal between the U.S. and China in December also makes long-term prospects for steel-using industry “brighter,” said David Owen, Economist at IHS Markit.Luxembourg-based Arcelor told clients Wednesday that prices of all new orders of flat-steel products will increase by at least $40 a ton, effective immediately.NLMK said base prices of all products would be hiked by at least $40 a ton for all new spot orders, effective immediately.Nucor and ArcelorMittal didn’t immediately respond to an email seeking comment, while NLMK didn’t immediate reply to a voice mail seeking comment.The last time prices of the metal have risen this fast was after steel tariffs were imposed by President Donald Trump in March 2018, with no formal announcements made by steel mills, according to Kenyon.To contact the reporters on this story: Yvonne Yue Li in New York at firstname.lastname@example.org;Joe Deaux in New York at email@example.comTo contact the editors responsible for this story: Luzi Ann Javier at firstname.lastname@example.org, Joe Richter, Pratish NarayananFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
As the steel industry looks poised for a rebound this year after a gloomy 2019, it would be prudent to invest in steel stocks that have compelling prospects.
The materials sector includes companies engaged in the discovery, development, and processing of raw materials, which are used across many other sectors and industries. Materials stocks include manufacturers of products as varied as plastic, fertilizer, paper, concrete, and metals. Some prominent names in the materials sector include Dupont de Nemours Inc. (DD), Ecolab Inc. (ECL), and Dow Inc. (DOW).
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Nucor Corp. will build a coil-paint line at its Nucor Steel Arkansas plant, which will make that facility the Charlotte-based company’s first that can produce painted steel. The project is in line with Nucor's strategy of expanding its value-added product offerings. “We will be able to compete in new markets, such as roofing and siding, light fixtures and appliances, as well as strengthen our existing market position in HVAC, garage doors and service centers," says Jay Henderson, vice president and general manager of Nucor Steel Arkansas.
Today we'll evaluate Nucor Corporation (NYSE:NUE) to determine whether it could have potential as an investment idea...
Nucor has been on a growth spurt for the last few years, largely through plant expansions and new construction. Acquisitions have also been part of the plan, but those were mostly smaller and mainly strategic.
Charlotte-based Nucor Corp. says it will pay incoming CEO Leon Topalian a base salary of $1 million, with a target for annual incentives of $1.5 million and long-term incentives of $2 million, once he takes the top position Jan. 1. The base salary is fixed, but the annual and long-term incentives are subject to multipliers based on the achievement of defined milestones. For instance, the CEO of Nucor can get a maximum annual incentive of four times his salary, which, under the right conditions, could increase Topalian's annual incentive plan payment to as much as $4 million.
Nucor Corp. says earnings per diluted share are likely to be in the 25- to 30-cent range. It earned 90 cents per diluted share in the third quarter and $2.07 per diluted share in the fourth quarter of 2019.