Buy Nucor For The Long Term: 3.6% Dividend Yield Is As Solid As Steel

Nucor Corporation, headquartered in Charlotte, manufactures steel and steel products. NUE also produces direct reduced iron (DRI) to use in the company's steel mills. Nucor is the largest U.S. steel producer by market cap. It is also the largest North American recycler. NUE has three main reporting segments: Steel Mills, Steel Products and Raw Materials. Steel Mills accounted for 70 percent of 2011 revenue. Steel Products and Raw Materials segments generated 17 percent and 11 percent of the total revenue in 2011, respectively.   

Nucor Corporation (NUE) reported better than expected third quarter earnings as metal margins came out better than what the sell side was expecting. Lower scrap cost was the reason for higher-than-expected margins. However, NUE is expecting Q4'12 earnings to decline sequentially due to high import levels, excess domestic supply, weak economic outlook, and seasonally weak demand in Q4'12. Read more