Nucor Corporation NUE recently announced that it has agreed to purchase Hannibal Industries, Inc., a leading national provider of racking solutions to warehouses and serving the e-commerce, industrial, food storage and retail segments.The transaction is valued at $370 million equating to 6.9x of the EBITDA for the trailing twelve months ended March 2021, for Nucor. The company will be purchasing 100% of Hannibal's outstanding shares from its Employee Stock Ownership Plan (ESOP) once it obtains approvals.Nucor noted that the buyout will provide it with a growth platform and also broaden its product offerings to the channel of warehouses. It is in sync with the company’s strategy of expanding its reach beyond its core steel business and enables it to steer toward the position of a market leader. Moreover, the acquisition, together with the pending purchase of Cornerstone Building Brands' insulated metal panels business, will bolster its services to warehouses and distribution customers. Nucor also believes that both companies have a similar employee-centric culture and that will be an added benefit for the integrated company.Shares of Nucor have surged 115.2% over a year, underperforming the industry’s 126.9% growth.Image Source: Zacks Investment ResearchIn the recently reported second quarter, the company recorded earnings of $5.04 per share, the highest quarterly earnings in its history, also beating the Zacks Consensus Estimate of $4.81. It raked in net sales of $8,789.2 million, increasing 103% from the year-ago quarter and also surpassing the Zacks Consensus Estimate of $8,311.9 million.Nucor expects third-quarter earnings to be the highest quarterly earnings in its history, exceeding the record-level earnings in the second quarter. Earnings are expected to be mainly driven by higher pricing and margins in the steel mills segment. The company also sees higher profitability in the steel mills segment with the biggest increase at sheet mills.Nucor Corporation Price and Consensus Nucor Corporation price-consensus-chart | Nucor Corporation QuoteZacks Rank & Other Stocks to ConsiderCurrently, Nucor carries a Zacks Rank #1 (Strong Buy).Other similar-ranked stocks in the basic materials space include Aperam S.A. APEMY, ArcelorMittal MT and Commercial Metals Company CMC. You can see the complete list of today’s Zacks #1 Rank stocks here.Aperam has a projected earnings growth rate of 301.6% for the current year. The company’s shares have grown 104.5% over a year.ArcelorMittal has a projected earnings growth rate of 1,484.4% for the current year. The company’s shares have shot up 179.1% over a year.Commercial Metals has a projected earnings growth rate of around 33% for the current year. The company’s shares have risen 49.5% over a year. Time to Invest in Legal Marijuana If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027. After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%. You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ArcelorMittal (MT): Free Stock Analysis Report Nucor Corporation (NUE): Free Stock Analysis Report Commercial Metals Company (CMC): Free Stock Analysis Report Aperam (APEMY): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research