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Best Steel Stocks to Buy Now (2024)
Top steel stocks in 2024 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
SID
NATIONAL STEEL CO
NYSE
Steel
$3.81B$2.871.77%$1.97B12.21x3.26
STLD
STEEL DYNAMICS INC
NASDAQ
Steel
$21.71B$137.300.29%$3.72B9.33x0.68
GGB
GERDAU SA
NYSE
Steel
$8.01B$3.803.83%$2.73B5.34x0.52
CMC
COMMERCIAL METALS CO
NYSE
Steel
$6.38B$55.10-0.20%$1.18B9.45x0.58
RS
RELIANCE INC
NYSE
Steel
$18.35B$319.540.02%$2.02B13.95x0.36
NUE
NUCOR CORP
NYSE
Steel
$46.13B$191.630.14%$7.02B10.62x0.63
FRD
FRIEDMAN INDUSTRIES INC
NYSEMKT
Steel
$132.62M$19.011.28%$30.49M7.51x0.87
HUDI
HUADI INTERNATIONAL GROUP CO LTD
NASDAQ
Steel
$37.07M$2.605.69%$4.49M11.30x0.38
MT
ARCELORMITTAL
NYSE
Steel
$21.15B$25.811.65%$4.69B23.68x0.70
CLF
CLEVELAND-CLIFFS INC
NYSE
Steel
$10.39B$20.850.19%$1.81B26.73x1.19
SIM
GRUPO SIMEC SAB DE CV
NYSEMKT
Steel
$4.77B$31.000.00%$684.92M10.95x0.41
ZEUS
OLYMPIC STEEL INC
NASDAQ
Steel
$752.67M$67.61-0.38%$104.77M17.56x0.77
ASTL
ALGOMA STEEL GROUP INC
NASDAQ
Steel
$810.18M$7.820.26%$169.78M19.75x0.84
MTUS
METALLUS INC
NYSE
Steel
$932.21M$21.240.05%$146.20M13.44x0.61
X
UNITED STATES STEEL CORP
NYSE
Steel
$8.69B$38.840.65%$1.72B9.76x0.84
PKX
POSCO HOLDINGS INC
NYSE
Steel
$21.73B$71.601.43%$7.88B17.08x0.76
MSB
MESABI TRUST
NYSE
Steel
$231.57M$17.65-0.79%$11.28M20.52x0.23
USAP
UNIVERSAL STAINLESS & ALLOY PRODUCTS INC
NASDAQ
Steel
$243.25M$26.471.30%$33.16M49.02x0.58
ACNT
ASCENT INDUSTRIES CO
NASDAQ
Steel
$99.22M$9.80-1.90%-$21.41M-3.73x0.52
ZKIN
ZK INTERNATIONAL GROUP CO LTD
NASDAQ
Steel
$19.88M$0.655.48%N/A-3.11x0.40
RDUS
RADIUS RECYCLING
NASDAQ
Steel
$508.16M$18.16-1.36%$45.19M-8.00x1.06
HLP
HONGLI GROUP INC
NASDAQ
Steel
$15.09M$1.222.52%$3.38M7.18x0.51
INHD
INNO HOLDINGS INC
NASDAQ
Steel
$11.81M$0.570.00%N/AN/A0.85

Steel Stocks FAQ

What are the best steel stocks to buy right now in Apr 2024?

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

1. National Steel Co (NYSE:SID)


National Steel Co (NYSE:SID) is the top steel stock with a Zen Score of 57, which is 23 points higher than the steel industry average of 34. It passed 21 out of 38 due diligence checks and has strong fundamentals. National Steel Co has seen its stock return 2.14% over the past year, underperforming other steel stocks by -16 percentage points.

National Steel Co has an average 1 year price target of $2.95, an upside of 2.79% from National Steel Co's current stock price of $2.87.

National Steel Co stock has a consensus Sell recommendation according to Wall Street analysts. Of the 2 analysts covering National Steel Co, 0% have issued a Strong Buy rating, 0% have issued a Buy, 0% have issued a hold, while 100% 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 52, which is 18 points higher than the steel industry average of 34. It passed 19 out of 38 due diligence checks and has strong fundamentals. Steel Dynamics has seen its stock return 25.92% over the past year, overperforming other steel stocks by 7 percentage points.

Steel Dynamics has an average 1 year price target of $125.00, a downside of -8.96% from Steel Dynamics's current stock price of $137.30.

Steel Dynamics stock has a consensus Hold recommendation according to Wall Street analysts. Of the 5 analysts covering Steel Dynamics, 20% have issued a Strong Buy rating, 0% have issued a Buy, 60% have issued a hold, while 0% have issued a Sell rating, and 20% have issued a Strong Sell.

3. Gerdau Sa (NYSE:GGB)


Gerdau Sa (NYSE:GGB) is the third best steel stock with a Zen Score of 51, which is 17 points higher than the steel industry average of 34. It passed 18 out of 38 due diligence checks and has strong fundamentals. Gerdau Sa has seen its stock lose -7.88% over the past year, underperforming other steel stocks by -27 percentage points.

Gerdau Sa has an average 1 year price target of $4.63, an upside of 21.71% from Gerdau Sa's current stock price of $3.80.

Gerdau Sa stock has a consensus Buy recommendation according to Wall Street analysts. Of the 2 analysts covering Gerdau Sa, 50% have issued a Strong Buy rating, 0% have issued a Buy, 50% 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 13.82%, which is 11 percentage points higher than the steel industry average of 2.78%. National Steel Co's dividend payout is not stable, having dropped more than 10% six times in the last 10 years. National Steel Co's dividend has shown consistent growth over the last 10 years.

National Steel Co's dividend payout ratio of 136.5% indicates that its high dividend yield might not be sustainable for the long-term.

2. Gerdau Sa (NYSE:GGB)


Gerdau Sa (NYSE:GGB) has an annual dividend yield of 6.69%, which is 4 percentage points higher than the steel industry average of 2.78%. Gerdau Sa's dividend payout is not stable, having dropped more than 10% sixteen times in the last 10 years. Gerdau Sa's dividend has not shown consistent growth over the last 10 years.

Gerdau Sa's dividend payout ratio of 35.7% indicates that its high dividend yield is sustainable for the long-term.

3. Radius Recycling (NASDAQ:RDUS)


Radius Recycling (NASDAQ:RDUS) has an annual dividend yield of 4.13%, which is 1 percentage points higher than the steel industry average of 2.78%. Radius Recycling's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Radius Recycling's dividend has not shown consistent growth over the last 10 years.

Radius Recycling's dividend payout ratio of -33% indicates that its dividend yield might not be sustainable for the long-term.

Why are steel stocks up?

Steel stocks were up 0.23% in the last day, and down -1.36% over the last week. Nucor was the among the top gainers in the steel industry, gaining 0.14% yesterday.

Nucor shares are trading lower after the company reported worse-than-expected Q1 financial results.

What are the most undervalued steel stocks?

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

1. Algoma Steel Group (NASDAQ:ASTL)


Algoma Steel Group (NASDAQ:ASTL) is the most undervalued steel stock based on WallStreetZen's Valuation Score. Algoma Steel Group has a valuation score of 86, which is 47 points higher than the steel industry average of 39. It passed 6 out of 7 valuation due diligence checks.

Algoma Steel Group's stock has gained 1.69% in the past year. It has underperformed other stocks in the steel industry by -17 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 32 points higher than the steel industry average of 39. It passed 5 out of 7 valuation due diligence checks.

Gerdau Sa's stock has dropped -7.88% in the past year. It has underperformed other stocks in the steel industry by -27 percentage points.

3. National Steel Co (NYSE:SID)


National Steel Co (NYSE:SID) is the third most undervalued steel stock based on WallStreetZen's Valuation Score. National Steel Co has a valuation score of 71, which is 32 points higher than the steel industry average of 39. It passed 5 out of 7 valuation due diligence checks.

National Steel Co's stock has gained 2.14% in the past year. It has underperformed other stocks in the steel industry by -16 percentage points.

Are steel stocks a good buy now?

36.36% of steel stocks rated by analysts are a buy right now. On average, analysts expect steel stocks to rise by 8.2% 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 13.95x.
WallStreetZen does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security.

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.