5 Best Materials Stocks To Invest In

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In this piece, we’ll take a look at the 5 Best Materials Stocks To Invest In. For more such companies, go to 13 Best Materials Stocks To Invest In.

5. Nucor Corporation (NYSE:NUE)

Forward P/E ratio as of December 16: 10.10

Number of Hedge Fund Holders: 41

Nucor Corporation (NYSE:NUE) is a steel manufacturer and distributor. The company’s product portfolio includes carbon and alloy steel, steel joints, steel deck, cold-finished steel, steel grinding balls, steel bearing products, and metal building systems.

On December 6, 2022, Andreas Bokkenheuser, an analyst at UBS, increased his price target on Nucor Corporation (NYSE:NUE) to $145 while keeping a Neutral rating on the stock. The analyst believes that the company is benefitting from a decline in raw materials costs and the improved profitability will continue to support returns to shareholders.

As per Insider Monkey’s database, 41 hedge funds owned stakes in Nucor Corporation (NYSE:NUE) at the end of the September quarter. Citadel Investment Group was the most bullish fund on the company’s stock at the end of Q3 2022.

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