S&P 500   4,591.67
DOW   35,227.03
QQQ   386.20
S&P 500   4,591.67
DOW   35,227.03
QQQ   386.20
S&P 500   4,591.67
DOW   35,227.03
QQQ   386.20
S&P 500   4,591.67
DOW   35,227.03
QQQ   386.20

7 Cyclical Stocks That Make Sense In a Volatile Market - 1 of 7

 

#1 - Nucor (NYSE:NUE)

Nucor logo

Perhaps no stock illustrates the anticipation for the proposed infrastructure bill than Nucor (NYSE: NUE), the largest steel company in the United States. The company is expected to play a major role in rebuilding America’s bridges and tunnels.

And the company is coming off another strong earnings report and citing a stronger, and faster-than-expected U.S. recovery from the pandemic. This is requiring the company’s customers to restock depleted inventories. Plus, steel prices are much higher than they were pre-pandemic. The company’s mills are already operating at near 100% capacity and that does not take into account the additional business that would come from the infrastructure bill.

If investors need any more reason to jump on this cyclical stock, the company is planning to return 40% of its net income to shareholders with dividends and share repurchases. And the company has been increasing its dividend for the last 48 consecutive years, which makes it a Dividend Aristocrat.

About Nucor

Nucor Corp. engages in the manufacturing of steel and steel products. It operates through the following segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment comprises of carbon and alloy steel in sheet, bars; structural and plate; steel trading businesses; rebar distribution businesses; and Nucor's equity method investments.Read More 
Current Price
$110.24
Consensus Rating
Hold
Ratings Breakdown
4 Buy Ratings, 8 Hold Ratings, 0 Sell Ratings.
Consensus Price Target
$116.82 (6.0% Upside)





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