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Best Steel Stocks to Buy Now (2023)
Top steel stocks in 2023 ranked by overall Zen Score. See the best steel stocks to buy now, according to analyst forecasts for the steel industry.

Industry: Steel
Ticker
Company
Exchange
Industry
Zen Score
Market Cap
Price
1d %
EBITDA
P/E
D/E
GGB
GERDAU SA
NYSE
Steel
$8.03B$4.672.86%$5.08B2.46x0.73
STLD
STEEL DYNAMICS INC
NASDAQ
Steel
$18.60B$108.390.83%$5.48B5.15x0.75
RS
RELIANCE STEEL & ALUMINUM CO
NYSE
Steel
$14.87B$252.170.83%$2.73B8.30x0.46
CMC
COMMERCIAL METALS CO
NYSE
Steel
$5.45B$46.541.37%$1.56B5.31x0.71
NUE
NUCOR CORP
NYSE
Steel
$37.45B$148.650.44%$11.00B5.15x0.70
ZEUS
OLYMPIC STEEL INC
NASDAQ
Steel
$557.50M$50.091.29%$153.91M6.36x0.73
WOR
WORTHINGTON INDUSTRIES INC
NYSE
Steel
$3.12B$62.722.25%$428.71M14.13x1.16
SID
NATIONAL STEEL CO
NYSE
Steel
$3.70B$2.671.14%$4.40B1.54x2.76
ACNT
ASCENT INDUSTRIES CO
NASDAQ
Steel
$91.82M$8.970.79%$49.89M3.00x1.23
ASTL
ALGOMA STEEL GROUP INC
NASDAQ
Steel
$812.52M$7.45-1.19%$617.74M3.07x0.73
SIM
GRUPO SIMEC SAB DE CV
NYSEMKT
Steel
$5.36B$34.810.00%$740.03M11.60x0.37
FRD
FRIEDMAN INDUSTRIES INC
NYSEMKT
Steel
$82.24M$11.150.63%$13.97M11.15x0.88
SCHN
SCHNITZER STEEL INDUSTRIES INC
NASDAQ
Steel
$802.89M$29.340.41%$222.06M7.89x0.97
TMST
TIMKENSTEEL CORP
NYSE
Steel
$787.06M$17.930.17%$156.00M12.63x0.58
CLF
CLEVELAND-CLIFFS INC
NYSE
Steel
$8.97B$17.43-1.25%$3.07B6.78x1.38
ZKIN
ZK INTERNATIONAL GROUP CO LTD
NASDAQ
Steel
$20.97M$0.69-2.82%-$2.47M-3.29x0.52
X
UNITED STATES STEEL CORP
NYSE
Steel
$5.67B$25.000.00%$3.95B2.45x0.90
HUDI
HUADI INTERNATIONAL GROUP CO LTD
NASDAQ
Steel
$39.72M$3.00-4.46%$4.55M20.00x0.71
MT
ARCELORMITTAL
NYSE
Steel
$22.60B$28.06-0.57%$13.93BN/A0.73
USAP
UNIVERSAL STAINLESS & ALLOY PRODUCTS INC
NASDAQ
Steel
$77.74M$8.591.66%$13.07M-9.54x0.65
GWAV
GREENWAVE TECHNOLOGY SOLUTIONS INC
NASDAQ
Steel
$11.14M$1.042.97%$5.66M-0.30x0.79
MSB
MESABI TRUST
NYSE
Steel
$308.45M$23.51-3.61%$25.77M11.97x0.02
PKX
POSCO HOLDINGS INC
NYSE
Steel
$20.92B$61.85-1.97%$10.10B7.73x0.77

Steel Stocks FAQ

What are the best steel stocks to buy right now in Mar 2023?

According to Zen Score, the 3 best steel stocks to buy right now are:

1. Gerdau Sa (NYSE:GGB)


Gerdau Sa (NYSE:GGB) is the top steel stock with a Zen Score of 66, which is 28 points higher than the steel industry average of 38. It passed 24 out of 38 due diligence checks and has strong fundamentals. Gerdau Sa has seen its stock lose -26.57% over the past year, underperforming other steel stocks by -26 percentage points.

Gerdau Sa has an average 1 year price target of $6.00, an upside of 28.48% from Gerdau Sa's current stock price of $4.67.

Gerdau Sa stock has a consensus Hold recommendation according to Wall Street analysts. Of the 1 analyst covering Gerdau Sa, 0% have issued a Strong Buy rating, 0% have issued a Buy, 100% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

2. Steel Dynamics (NASDAQ:STLD)


Steel Dynamics (NASDAQ:STLD) is the second best steel stock with a Zen Score of 55, which is 17 points higher than the steel industry average of 38. It passed 21 out of 38 due diligence checks and has strong fundamentals. Steel Dynamics has seen its stock return 22.25% over the past year, overperforming other steel stocks by 23 percentage points.

Steel Dynamics has an average 1 year price target of $110.00, an upside of 1.49% from Steel Dynamics's current stock price of $108.39.

Steel Dynamics stock has a consensus Buy recommendation according to Wall Street analysts. Of the 6 analysts covering Steel Dynamics, 16.67% have issued a Strong Buy rating, 16.67% have issued a Buy, 66.67% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

3. Reliance Steel & Aluminum Co (NYSE:RS)


Reliance Steel & Aluminum Co (NYSE:RS) is the third best steel stock with a Zen Score of 53, which is 15 points higher than the steel industry average of 38. It passed 20 out of 38 due diligence checks and has strong fundamentals. Reliance Steel & Aluminum Co has seen its stock return 29.13% over the past year, overperforming other steel stocks by 30 percentage points.

Reliance Steel & Aluminum Co has an average 1 year price target of $252.67, an upside of 0.2% from Reliance Steel & Aluminum Co's current stock price of $252.17.

Reliance Steel & Aluminum Co stock has a consensus Buy recommendation according to Wall Street analysts. Of the 6 analysts covering Reliance Steel & Aluminum Co, 33.33% have issued a Strong Buy rating, 33.33% have issued a Buy, 33.33% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

What are the steel stocks with highest dividends?

Out of 13 steel stocks that have issued dividends in the past year, the 3 steel stocks with the highest dividend yields are:

1. National Steel Co (NYSE:SID)


National Steel Co (NYSE:SID) has an annual dividend yield of 17.12%, which is 13 percentage points higher than the steel industry average of 3.97%. National Steel Co's dividend payout is not stable, having dropped more than 10% eight times in the last 10 years. National Steel Co's dividend has not shown consistent growth over the last 10 years.

National Steel Co's dividend payout ratio of 24.1% indicates that its high dividend yield is sustainable for the long-term.

2. Gerdau Sa (NYSE:GGB)


Gerdau Sa (NYSE:GGB) has an annual dividend yield of 15.15%, which is 11 percentage points higher than the steel industry average of 3.97%. Gerdau Sa's dividend payout is not stable, having dropped more than 10% fifteen times in the last 10 years. Gerdau Sa's dividend has shown consistent growth over the last 10 years.

Gerdau Sa's dividend payout ratio of 30.5% indicates that its high dividend yield is sustainable for the long-term.

3. Schnitzer Steel Industries (NASDAQ:SCHN)


Schnitzer Steel Industries (NASDAQ:SCHN) has an annual dividend yield of 2.56%, which is -1 percentage points lower than the steel industry average of 3.97%. Schnitzer Steel Industries's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Schnitzer Steel Industries's dividend has not shown consistent growth over the last 10 years.

Schnitzer Steel Industries's dividend payout ratio of 20.2% indicates that its dividend yield is sustainable for the long-term.

Why are steel stocks up?

Steel stocks were up 0.44% in the last day, and up 4.83% over the last week.

We couldn't find a catalyst for why steel stocks are up.

What are the most undervalued steel stocks?

Based on WallStreetZen's Valuation Score, the 3 most undervalued steel stocks right now are:

1. Ascent Industries Co (NASDAQ:ACNT)


Ascent Industries Co (NASDAQ:ACNT) is the most undervalued steel stock based on WallStreetZen's Valuation Score. Ascent Industries Co has a valuation score of 86, which is 46 points higher than the steel industry average of 40. It passed 6 out of 7 valuation due diligence checks.

Ascent Industries Co's stock has dropped -51.25% in the past year. It has underperformed other stocks in the steel industry by -50 percentage points.

2. Gerdau Sa (NYSE:GGB)


Gerdau Sa (NYSE:GGB) is the second most undervalued steel stock based on WallStreetZen's Valuation Score. Gerdau Sa has a valuation score of 71, which is 31 points higher than the steel industry average of 40. It passed 5 out of 7 valuation due diligence checks.

Gerdau Sa's stock has dropped -26.57% in the past year. It has underperformed other stocks in the steel industry by -26 percentage points.

3. Algoma Steel Group (NASDAQ:ASTL)


Algoma Steel Group (NASDAQ:ASTL) is the third most undervalued steel stock based on WallStreetZen's Valuation Score. Algoma Steel Group has a valuation score of 71, which is 31 points higher than the steel industry average of 40. It passed 5 out of 7 valuation due diligence checks.

Algoma Steel Group's stock has dropped -38.23% in the past year. It has underperformed other stocks in the steel industry by -37 percentage points.

Are steel stocks a good buy now?

43.75% of steel stocks rated by analysts are a buy right now. On average, analysts expect steel stocks to rise by 5.1% over the next year.

What is the average p/e ratio of the steel industry?

The average P/E ratio of the steel industry is 5.28x.
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Information is provided 'as-is' and solely for informational purposes and is not advice. WallStreetZen does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data.