Nucor Corporation (NUE) : During the past 4 weeks, traders have been relatively bearish on Nucor Corporation (NUE), hence the stock is down -5.43% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -1.23% relative to the S&P 500. The 4-week change in the price of the stock is -5.06% and the stock has fallen -1.26% in the past 1 week.
Nucor Corporation is up 8.44% in the last 3-month period. Year-to-Date the stock performance stands at 26.22%. The stock has recorded a 20-day Moving Average of 4.83% and the 50-Day Moving Average is 3.5%.
Nucor Corporation (NYSE:NUE): The stock opened at $50.42 on Friday but the bulls could not build on the opening and the stock topped out at $50.60 for the day. The stock traded down to $49.92 during the day, due to lack of any buying support eventually closed down at $50.05 with a loss of -1.75% for the day. The stock had closed at $50.94 on the previous day. The total traded volume was 3,070,824 shares.
Also, Berenberg downgrades their rating on the shares of Nucor Corporation (NYSE:NUE). The current rating of the shares is Hold. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on July 25, 2016.
Nucor Corporation (Nucor) manufactures steel and steel products. The Company also produces direct reduced iron (DRI) for use in the Companys steel mills. It also processes ferrous and nonferrous metals and brokers ferrous and nonferrous metals, pig iron, hot briquetted iron (HBI) and DRI. Nucor operates in three segments: steel mills, steel products and raw materials. In the steel mills segment, Nucor produces and distributes sheet steel, plate steel, structural steel and bar steel. In the steel products segment, Nucor produces steel joists and joist girders, steel deck, fabricated concrete reinforcing steel, cold finished steel, steel fasteners, metal building systems, steel grating and expanded metal, and wire and wire mesh. In the raw materials segment, the Company produces DRI; brokers ferrous and nonferrous metals, pig iron, HBI and DRI; supplies ferro-alloys, and processes ferrous and nonferrous scrap metal.