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Nucor Shares Sink in Thursday Trading

Nucor, the US steel maker, was down sharply in trading today and sat near the low of the session, in what is its fourth-largest daily move in the past six months.

Nucor (NYSE: NUE), the US steel maker, was trading at $252.84 as of 16:12 London time today, down 5.6% on the session. The shares have ranged between $250.54 and $271.39 so far, which leaves them close to the day’s low.

The fall puts Nucor 8.9% below its 52-week high, though the shares are still up 55.9% since the start of the year. Volume is running at 1.93 times its normal pace.

Line chart of Nucor's share price over the past month, with today's session falling sharply at the right-hand edge
Nucor’s share price over the month to today, with today’s session highlighted (delayed quote as of 16:12 London time)

How unusual this is

Today’s move is the fourth-largest daily change in the past six months of trading, a span of 126 sessions. Nucor last had a move of this size on the 22nd of October, nine sessions ago.

Chart of Nucor's daily share price changes over six months, with today's large fall highlighted
Nucor’s daily moves over six months, with today’s highlighted
NUE.US

In the news

Nucor, the US steel maker, topped third-quarter estimates on record shipments and a pricing rebound. The chief executive called demand the strongest in 31 years.

Zacks rates the stock Rank #1. Nucor’s market value is about $62bn and its forward price-to-earnings ratio is 12, meaning the shares trade at 12 times expected earnings.

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