Nucor (NUE) Pullback Draws Renewed Buying Interest

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Nucor (NUE) Pullback Draws Renewed Buying InterestNucor CorporationBATS:NUEfinvestnomicsNUE is attracting buying interest following a healthy retracement after an extended impulse move. The stock remains in a strong uptrend, trading above its well-aligned 20-day and 50-day moving averages, which continues to support bullish momentum. Nucor Corporation is a $52.84 billion market cap company engaged in the manufacture of steel products and ferrous and non-ferrous materials. The company operates through three segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment focuses on the production of sheet, plate, structural, and bar steel. The Steel Products segment includes steel joists and girders, decking, fabricated concrete reinforcing products, fasteners, metal building systems, grating, tubular products, piling products, and wire mesh. The Raw Materials segment consists of direct reduced iron and ferrous and non-ferrous metals. NUE is considered a narrow-moat company and has delivered consistent revenue and EPS growth over the last three quarters, with the most recent revenue and EPS growth coming in at 21% and 382%, respectively. ROE and ROIC at 11% and 8%, respectively, while operating margin and net margin stand at 12% and 8%. Its balance sheet remains strong, supported by a current ratio of 2.9x and a low debt-to-equity ratio of 0.3x.