Avoid the stress of overpaying for a stock or missing an opportunity by using the right tools and insights to evaluate Nucor Corporation before investing.

In this article, we go over a few key elements for understanding Nucor Corporation’s stock price such as:

• Nucor Corporation’s current stock price and volume
• Why Nucor Corporation’s stock price changed recently
• Upgrades and downgrades for NUE from analysts
• NUE’s stock price momentum as measured by its relative strength

About Nucor Corporation (NUE)

Before we jump into Nucor Corporation’s stock price, history, target price and what caused it to recently dip, let’s take a look at some background.

Nucor Corporation is focused on manufacturing steel and steel products that produces direct reduced iron (DRI) for use in its steel mills. The Company?s segments include Steel Mills, Steel Products and Raw Materials. The Steel Mills segment produces sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar and engineered special bar quality (SBQ). The Steel Products segment produces steel joists and joist girders, steel deck, hollow structural section steel tubing, electrical conduit, fabricated concrete reinforcing steel, cold finished steel, steel fasteners, steel grating and expanded metal, wire and wire mesh, metal building systems and others. The Raw Materials segment DRI; brokers ferrous and nonferrous metals, pig iron, hot briquetted iron and DRI; supplies ferro-alloys; and processes ferrous and nonferrous scrap metal.

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Nucor Corporation’s Stock Price as of Market Close

As of October 13, 2023, 4:00 PM, CST, Nucor Corporation’s stock price was $147.06.

Nucor Corporation is down 0.33% from its previous closing price of $147.55.

During the last market session, Nucor Corporation’s stock traded between $146.39 and $153.41. Currently, there are 250.14 million shares of Nucor Corporation stock available for purchase.

Nucor Corporation’s price-earnings (P/E) ratio is currently at 6.8, which is low compared to the Metals & Mining - Iron & Steel industry median of 10.2. The price-earnings ratio gauges market expectation of future performance by relating a stock’s current share price to its earnings per share.

Nucor Corporation Stock Price History

Nucor Corporation’s (NUE) price is currently down 5.94% so far this month.

During the month of October, Nucor Corporation’s stock price has reached a high of $158.85 and a low of $144.82.

Over the last year, Nucor Corporation has hit prices as high as $182.68 and as low as $114.86. Year to date, Nucor Corporation’s stock is up 28.83%.

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What Caused Nucor Corporation Stock’s Price to Dip?

Stock prices are primarily based on seller supply and buyer demand. But have you ever wondered about what other factors affect a stock's price?

When an analyst changes their opinion of a stock by upgrading or downgrading their rating, it often leads to a sudden stock price adjustment. As of October 12, 2023, there were 6 analysts who downgraded Nucor Corporation’s stock and 0 analysts who upgraded over the last month.

Additionally, you'll want to evaluate Nucor Corporation’s financial health and valuation. Investors can use AAII's Value Grade, which combines six key valuation metrics like P/E and P/S ratios for a comprehensive analysis to conduct analysis on Nucor Corporation’s valuation and financial health. This approach mitigates the limitations of single-metric evaluations.

Nucor Corporation’s current valuation based on AAII’s Value Grade is a A, which means it is considered to be Deep Value.

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Lastly, news and media coverage as well as recent press reports about the company or its industry may cause stock prices to fluctuate. You can check out the most recent news articles about Nucor Corporation (NUE) by visiting AAII Stock Evaluator.

Relative Price Strength of Nucor Corporation

Relative price strength measures a stock's performance against the market, helping investors identify stocks that are outperforming benchmarks.

For AAII’s Momentum Grade, a weighted relative price strength is calculated. Follow this link to learn more about the Momentum Grade.

As of October 12, 2023, Nucor Corporation has a weighted four-quarter relative price strength of -0.88%, which translates to a Momentum Score of 67 and is considered to be Strong.

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Nucor Corporation Stock Price: Bottom Line

As of October 13, 2023, Nucor Corporation’s stock price is $147.06, which is down 0.33% from its previous closing price.

AAII advises against making stock decisions based solely on price or past returns. Instead, consider a variety of metrics, fundamentals, and analytics to evaluate a stock like Nucor Corporation stock prices are influenced by market supply and demand and offer just a snapshot of a company's overall health.

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