Nucor (NUE 0.95%) is a steel company, and that has major implications for its financial performance, given the inherent cyclicality of the steel industry. However, Nucor has managed to achieve an incredible feat despite the cyclical nature of the industry in which it operates.
When it comes to the domestic steel industry, two companies stand out: Nucor (NUE 0.23%) and Steel Dynamics (STLD -0.11%). Both are well run and growing, but one is old and largely mature while the other is still relatively young and growing more quickly.
While NUE gains on its actions to grow through acquisitions and capacity expansion, lower steel prices weigh on its profitability.
An offer is probably months away from happening.
U.S. Steel (X) shares jumped Monday after a CNBC report that Cleveland-Cliffs (CLF) is teaming up with rival Nucor (NUE) for a potential bid for the company, whose $14.1 billion buyout by Nippon Steel was blocked by President Joe Biden recently.
Cleveland-Cliffs is partnering with peer Nucor to prepare a potential bid for U.S. Steel , CNBC reported on Monday, citing sources.
CNBC's David Faber delivers his latest Faber Report.
Cleveland-Cliffs partnering with Nucor on potential bid for U.S. Steel, sources say
The new $200 million Utah plant will be built on NUE's existing Brigham City location and is projected to employ 200 full-time workers.
Let's see if it's time to buy Nucor (NUE) stock for a rebound after falling more than 30% over the last year.
It is hard to find good dividend stocks that operate in cyclical industries. That doesn't mean it can't be done, however.
In the most recent trading session, Nucor (NUE) closed at $115.78, indicating a -1.85% shift from the previous trading day.