Nucor stock hits record $271.23 as earnings beat expectations

Nucor Corp stock hit an all-time high of $271.23, with shares trading at $271.49, though InvestingPro analysis suggests the stock may be overvalued relative to its Fair Value. The steelmaker's shares have surged 94.33% over the past year. The company reported strong second-quarter 2026 earnings of $4.87 per share and revenue of $10.4 billion, beating analyst expectations of $4.37 per share and $10.14 billion. Morgan Stanley raised its price target for Nucor to $270 from $258, maintaining an Equalweight rating. Nucor has raised its dividend for 16 consecutive years and trades at a PEG ratio of 0.16, indicating strong value relative to growth. The stock's performance reflects robust demand across business segments and the company's flexible, low fixed-cost steelmaking operations.