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On Friday analysts at Nomura Securities reiterated their "Buy" rating for steel manufacturer Nucor Corporation ( NUE )

The Charlotte, North Carolina company remained Nomura's top pick in steel with a price target of $48. That is a 17% increase from Thursday's closing price of $41.

Nomura Securities analyst Curt Woodworth said "We believe Nucor has very favorable risk / reward over the next 6-12 months as metal margins expand moderately in a lower scrap price environment, while steel prices benefit from what continues to be a steep cost curve in the U.S., especially on the sheet side."

Nucor shares were down 26 cents, or -0.63%, in afternoon trading on Friday.

The Bottom Line
Shares of Nucor Corporation ( NUE ) have a 3.56% dividend yield, based on last night's closing stock price of $41.00. The stock has technical support in the $36-$38 price area. If the shares can firm up, we see overhead resistance around the $42-$44 price levels.

Nucor Corporation ( NUE ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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