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NUCOR CORPORATION

(NUE)
  Report
Delayed Nyse  -  04:00 2022-12-07 pm EST
149.80 USD   -2.08%
12/06UBS Adjusts Nucor's Price Target to $145 From $120, Maintains Neutral Rating
MT
11/25S&P 500 Posts 1.5% Weekly Gain Amid Hopes for Fed Rate Increases to Start Slowing; Utilities Lead Broad Climb
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11/09NUCOR CORP Management's Discussion and Analysis of Financial Condition and Results of Operations (form 10-Q)
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Nucor Corporation to Construct Two Flat-Rolled Galvanizing Lines

09/28/2022 | 09:00am EST

Nucor Corporation's Board of Directors approved the construction of a galvanizing line at Nucor Steel Berkeley in South Carolina to support the company's strategy to expand its capabilities and grow participation in the automotive and consumer durables markets. The $425 million investment will create more than 50 new full-time jobs and start-up is expected in mid-2025. Additionally, Nucor's Board of Directors approved a galvanizing line to be constructed in the western United States with details to be announced at a future date.

The new South Carolina galvanizing line will have an annual capacity of approximately 500,000 tons and will be able to produce galvanized steel up to 72 inches wide. Last month, Nucor Steel Berkeley announced a five-year $200 million modernization project, including constructing a new air separation unit to supply industrial gases for the mill's steelmaking operations. The mill currently employs 975 teammates.

The State of South Carolina has offered job development credits to Nucor and assisted with site preparation costs for the project by providing Berkeley County with a grant issued by the SC Department of Commerce Coordinating Council for Economic Development. The state's utility provider, Santee Cooper, similarly has provided a grant to Berkeley County to help cover the costs of facility upgrades related to the expansion. Nucor and Berkeley County also entered into a fee-in-lieu of tax agreement.

Nucor operates five strategically located sheet mills that utilize thin slab casters to produce flat-rolled steel for automotive, appliance, construction, pipe and tube, and many other industrial and consumer applications. The current capacity of Nucor's sheet mills is estimated at approximately 13 million tons per year. Nucor has a sixth sheet mill under construction in West Virginia and additionally owns a majority stake in California Steel Industries as well as a joint venture automotive galvanizing line in Mexico.

All of Nucor's sheet mills are equipped with galvanizing lines and five of them are equipped with cold rolling mills for the further processing of hot-rolled sheet steel.


ę S&P Capital IQ 2022
All news about NUCOR CORPORATION
12/06UBS Adjusts Nucor's Price Target to $145 From $120, Maintains Neutral Rating
MT
11/25S&P 500 Posts 1.5% Weekly Gain Amid Hopes for Fed Rate Increases to Start Slowing; Util..
MT
11/09NUCOR CORP Management's Discussion and Analysis of Financial Condition and Results of ..
AQ
11/09BMO Capital Boosts Price Target on Nucor to $142 From $113, Maintains Market Perform Ra..
MT
11/08Transcript : Nucor Corporation - Analyst/Investor Day
CI
10/30News Highlights: Top Company News of the Day
DJ
10/27Nucor Provides Webcast Details for Upcoming Investor Day
PR
10/26Insider Sell: Nucor
MT
10/24Morgan Stanley Lowers Nucor's Price Target to $113 From $115, Maintains Equalweight Rat..
MT
10/21Morgan Stanley Adjusts Nucor Price Target to $113 From $115, Maintains Equal Weight Rat..
MT
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Analyst Recommendations on NUCOR CORPORATION
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Financials (USD)
Sales 2022 41 515 M - -
Net income 2022 7 563 M - -
Net Debt 2022 1 015 M - -
P/E ratio 2022 5,24x
Yield 2022 1,34%
Capitalization 38 430 M 38 430 M -
EV / Sales 2022 0,95x
EV / Sales 2023 1,07x
Nbr of Employees 28 800
Free-Float 67,1%
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Technical analysis trends NUCOR CORPORATION
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 12
Last Close Price 149,80 $
Average target price 134,79 $
Spread / Average Target -10,0%
EPS Revisions
Managers and Directors
Leon J. Topalian Chairman, President & Chief Executive Officer
Stephen D. Laxton Chief Financial Officer, Treasurer & Executive VP
David A. Sumoski Chief Operating Officer
Christopher J. Kearney Lead Independent Director
Laurette T. Koellner Independent Director
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