Jim Cramer Sees Strong Fundamentals Underneath Nucor’s Mixed Quarter Results

Nucor Corporation (NYSE:NUE) is one of the stocks Jim Cramer talked about, along with the memory shortage. Cramer highlighted the company’s “mixed quarter,” as he commented:

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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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.

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Disclosure: None. This article is originally published at Insider Monkey.