Nucor Is Going Nuclear: What Investors Should Know
(NYSE: NUE) is one of the best-run steel mills in North America -- and, perhaps, the world. There are some nuances in that statement that investors need to understand. One of the most important is highlighted by its recent investment in NuScale Power, which is working on small-scale nuclear power plants. The relationship between these two companies has just deepened, showing that there's a potential dual benefit for Nucor over the long term.
Nucor wasn't always a steel company. At one point, it made products that were sold to nuclear power plants. However, it shifted to steel when it realized that its electric arc mini-mills were a more profitable business. That transition occurred over 50 years ago at this point, so Nucor's ties to the nuclear power industry aren't material today. And investors have no reason to complain given that they have been rewarded very well. A key highlight on that front would be the fact that Nucor is a Dividend King.
Image source: Getty Images.
Source Fool.com
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