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CHARLOTTE, N.C. - Nucor Corporation (NYSE:NUE), a leading steel and steel products manufacturer with a market capitalization of $25.31 billion, announced the upcoming retirement of Chad Utermark, its Executive Vice President of New Markets and Innovation. Utermark, who has been with the company since 1992, will retire on June 7, 2025. According to InvestingPro data, the company currently trades at a P/E ratio of 13.02 and appears undervalued based on its Fair Value analysis.
During his tenure at Nucor, Utermark has held various roles, progressing from a utility operator at Nucor Steel Arkansas to Vice President and General Manager of multiple Nucor businesses. He ascended to the role of Executive Vice President in 2014. Under his leadership, the company expanded into new ventures, including Nucor Data Systems, Nucor Door Technologies, Nucor Insulated Panel Group LLC, Nucor Towers & Structures Inc., and Nucor Warehouse Systems Inc.
Leon Topalian, Nucor’s Chair, President and Chief Executive Officer, expressed gratitude for Utermark’s commitment and leadership, which he said had a significant impact on the company’s culture and growth. Topalian credited Utermark with fostering Nucor’s "Expand Beyond" vision and praised his dedication to the team, customers, and communities.
Nucor, based in Charlotte, North Carolina, operates facilities across the United States, Canada, and Mexico. The company produces a wide array of steel products, including bars, beams, sheet, plate, and tubing. It is also involved in steel racking, piling, joists, deck, and fabricated concrete reinforcing steel. Additionally, Nucor is a major recycler in North America, processing ferrous and nonferrous scrap through The David J. Joseph Company and its affiliates.
This announcement is based on a press release statement from Nucor Corporation.
In other recent news, Nucor Corporation has projected its first-quarter earnings per share (EPS) to be between $0.45 and $0.55, a significant drop from the $3.46 reported in the same quarter last year. This guidance includes estimated one-time charges of approximately $16 million related to the shutdown of two facilities. The company’s steel mills segment is expected to perform similarly to the previous quarter, but the steel products and raw materials segments are projected to see declines. UBS has upgraded Nucor’s stock rating to Buy, raising the price target to $160, citing medium-term growth prospects and benefits from the 25% tariffs on downstream goods. Meanwhile, Citi has maintained its Buy rating with the same price target, despite acknowledging weaker-than-expected first-quarter guidance. The firm’s analysis suggests that Nucor’s results are influenced by utilization rates and the current demand environment, providing significant operating leverage for future steel demand. UBS has expressed concerns that new tariffs might negatively impact U.S. steel stocks, including Nucor, although Canada and Mexico are exempt. Investors will be closely watching Nucor’s performance as it navigates these challenges and opportunities within the steel industry.
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