Jim Cramer on Nucor: “Easily the Best Industrial in This Market”

Nucor Corporation (NYSE:NUE) was on Jim Cramer’s Mad Money game plan for the week ahead. Cramer expressed hope that the stock would come down, as he noted:

Nucor, the tremendous steel maker, reports, and you have to hope that this one comes down. It almost never does anymore. If you can get a better price, terrific. Easily the best industrial in this market.

Photo by Yiorgos Ntrahas on Unsplash

Nucor Corporation (NYSE:NUE) manufactures steel and steel products, including sheet, plate, bar, and structural steel. The company also produces raw materials, metal products, and industrial gases for construction, manufacturing, and energy applications. On January 26, discussing the company’s previously reported quarter, Cramer said:

What else? Last night, Nucor, our largest steel company, reported a mixed quarter and shares pulled back today, but the stock was up at its 52-week high coming into the quarter, and the actual print wasn’t nearly as good as the stuff underneath. I think there were many positive factors… Nucor’s being protected by steel tariffs to block foreign products from being dumped on our soil. Remember what that means. They are making it and selling it for less than their cost of production, and wiping out our steel industry. No more. As CEO Leon Topalian said on last night’s call, “What we’ve seen out of Commerce and USTR is a very supportive trade environment that’s pro-America and pro-U.S. manufacturing.” Topalian told me that the import picture is the best in his 30 years at Nucor.

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