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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

Overview Zen Score Price Valuation Financials Forecast Earnings & Revenue Dividends Ownership Technicals

Ticker	Company	Price	Volume	Vol 1d %	SMA 10	SMA 20	SMA 50	SMA 100	SMA 200	RSI	Stochastic %K	Stochastic %D	StochRSI %K	StochRSI %D	MACD	MACD Signal	MACD Histogram	Beta
WOR	WORTHINGTON ENTERPRISES INC	$59.76	140,092	-30.39%	59.02	58.52	60.43	59.27	62.34	53.37	62.46	56.69	73.39	66.31	-0.17	-0.41	0.24	1.36
STLD	STEEL DYNAMICS INC	$135.07	600,103	-38.57%	133.20	133.88	138.09	129.32	118.36	49.26	56.44	45.82	98.58	94.74	-1.21	-1.58	0.38	1.23
GGB	GERDAU SA	$3.74	7,133,681	55.49%	3.72	3.66	3.65	3.67	3.85	53.77	55.14	55.66	58.93	60.05	0.02	0.02	0.01	1.28
FRD	FRIEDMAN INDUSTRIES INC	$18.09	15,275	62.19%	18.87	19.04	18.64	17.63	15.41	37.99	31.99	41.90	24.90	32.52	-0.04	0.10	-0.15	0.48
RS	RELIANCE INC	$290.65	399,763	69.55%	292.03	299.52	316.75	305.06	286.81	34.27	38.96	34.44	88.91	89.88	-7.77	-8.16	0.39	0.99
CMC	COMMERCIAL METALS CO	$57.68	466,876	9.37%	56.47	55.51	55.78	53.79	51.39	61.09	90.15	89.54	95.82	95.57	0.44	0.12	0.33	1.22
NUE	NUCOR CORP	$172.62	1,017,652	25.29%	172.09	176.50	186.41	182.89	171.51	38.36	50.69	39.04	93.55	86.52	-4.62	-5.01	0.39	1.14
MT	ARCELORMITTAL	$25.98	1,373,327	11.77%	25.71	25.52	26.33	26.82	25.88	50.91	55.49	47.44	75.35	63.61	-0.19	-0.27	0.08	1.44
MSB	MESABI TRUST	$16.93	15,243	-34.06%	16.78	16.99	17.55	18.50	19.03	46.66	51.45	42.78	92.30	79.79	-0.23	-0.27	0.04	0.96
ZEUS	OLYMPIC STEEL INC	$52.58	99,881	20.02%	55.54	61.37	65.36	66.11	59.29	23.22	6.84	6.71	19.59	12.64	-4.28	-3.21	-1.07	0.99
CLF	CLEVELAND-CLIFFS INC	$17.80	5,802,071	-16.80%	17.36	18.26	20.13	19.85	17.92	39.42	47.57	33.01	97.73	82.55	-0.88	-0.95	0.07	1.54
HUDI	HUADI INTERNATIONAL GROUP CO LTD	$2.85	122,028	519.84%	2.66	2.61	2.66	2.76	3.11	62.74	63.99	60.01	71.59	67.84	0.02	-0.01	0.02	0.93
SIM	GRUPO SIMEC SAB DE CV	$31.00	157	-44.91%	31.00	31.10	31.82	31.43	32.13	27.60	0.00	0.00	77.78	61.11	-0.26	-0.28	0.02	0.40
ASTL	ALGOMA STEEL GROUP INC	$7.71	438,909	117.77%	7.76	7.78	7.94	8.39	7.86	44.34	43.69	49.49	47.44	61.72	-0.07	-0.08	0.01	0.99
X	UNITED STATES STEEL CORP	$38.00	1,612,924	105.58%	37.72	37.77	40.30	43.82	38.16	43.86	64.00	64.38	88.07	91.40	-0.71	-0.97	0.26	1.29
MTUS	METALLUS INC	$22.64	299,378	6.92%	21.26	21.26	21.41	21.29	21.16	63.80	69.37	52.20	97.01	74.36	0.11	-0.07	0.18	1.38
PKX	POSCO HOLDINGS INC	$74.07	72,126	-30.55%	73.69	72.41	76.09	80.10	88.99	51.31	66.59	64.60	67.29	64.29	-0.31	-0.74	0.43	1.02
SID	NATIONAL STEEL CO	$2.72	2,060,957	-13.98%	2.75	2.76	2.95	3.28	2.97	42.34	36.36	30.86	55.16	47.54	-0.06	-0.07	0.01	1.50
ZKIN	ZK INTERNATIONAL GROUP CO LTD	$0.70	24,392	-55.27%	0.71	0.67	0.65	0.73	0.70	51.92	43.58	56.60	38.42	63.48	0.03	0.02	0.01	0.73
RDUS	RADIUS RECYCLING	$19.46	337,190	133.12%	18.20	18.12	18.81	22.47	25.21	57.77	79.86	67.84	90.92	78.62	-0.14	-0.37	0.23	1.29
ACNT	ASCENT INDUSTRIES CO	$10.16	5,153	-61.71%	10.14	10.13	10.37	10.16	9.34	48.30	72.44	69.35	86.81	84.98	-0.05	-0.06	0.02	0.81
USAP	UNIVERSAL STAINLESS & ALLOY PRODUCTS INC	$32.84	147,068	-33.41%	30.48	28.47	25.44	22.48	18.33	73.09	87.47	88.53	97.66	94.75	1.97	1.57	0.40	0.67
HLP	HONGLI GROUP INC	$1.92	41,715	-65.95%	1.82	1.63	1.40	1.76	2.08	67.62	88.17	89.90	35.19	47.72	0.16	0.13	0.02	0.47
INHD	INNO HOLDINGS INC	$0.59	36,909	-50.45%	0.64	0.62	0.71	0.96	N/A	40.00	11.77	17.37	19.84	33.55	-0.03	-0.03	0.00	-0.37
WS	WORTHINGTON STEEL INC	$33.25	135,291	40.87%	32.22	32.16	32.86	31.30	N/A	54.04	62.13	56.19	73.19	65.59	-0.22	-0.31	0.08	1.57

Steel Stocks FAQ

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

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

1. Steel Dynamics (NASDAQ:STLD)

Steel Dynamics (NASDAQ:STLD) is the top steel stock with a Zen Score of 52, which is 20 points higher than the steel industry average of 32. It passed 19 out of 38 due diligence checks and has strong fundamentals. Steel Dynamics has seen its stock return 37.8% over the past year, overperforming other steel stocks by 16 percentage points.

Steel Dynamics has an average 1 year price target of $129.25, a downside of -4.31% from Steel Dynamics's current stock price of $135.07.

Steel Dynamics stock has a consensus Hold recommendation according to Wall Street analysts. Of the 4 analysts covering Steel Dynamics, 25% have issued a Strong Buy rating, 0% have issued a Buy, 50% have issued a hold, while 0% have issued a Sell rating, and 25% have issued a Strong Sell.

2. Worthington Enterprises (NYSE:WOR)

Worthington Enterprises (NYSE:WOR) is the second best steel stock with a Zen Score of 52, which is 20 points higher than the steel industry average of 32. It passed 19 out of 38 due diligence checks and has strong fundamentals. Worthington Enterprises has seen its stock return 6.96% over the past year, underperforming other steel stocks by -15 percentage points.

Worthington Enterprises has an average 1 year price target of $60.00, an upside of 0.4% from Worthington Enterprises's current stock price of $59.76.

Worthington Enterprises stock has a consensus Sell recommendation according to Wall Street analysts. Of the 2 analysts covering Worthington Enterprises, 0% have issued a Strong Buy rating, 0% have issued a Buy, 50% have issued a hold, while 0% have issued a Sell rating, and 50% 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 19 points higher than the steel industry average of 32. It passed 18 out of 38 due diligence checks and has strong fundamentals. Gerdau Sa has seen its stock lose -9.51% over the past year, underperforming other steel stocks by -32 percentage points.

Gerdau Sa has an average 1 year price target of $4.63, an upside of 23.66% from Gerdau Sa's current stock price of $3.74.

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. Gerdau Sa (NYSE:GGB)

Gerdau Sa (NYSE:GGB) has an annual dividend yield of 6.8%, which is 4 percentage points higher than the steel industry average of 2.36%. 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.

2. Mesabi Trust (NYSE:MSB)

Mesabi Trust (NYSE:MSB) has an annual dividend yield of 5.97%, which is 4 percentage points higher than the steel industry average of 2.36%. Mesabi Trust's dividend payout is not stable, having dropped more than 10% sixteen times in the last 10 years. Mesabi Trust's dividend has not shown consistent growth over the last 10 years.

Mesabi Trust's dividend payout ratio of 49.8% indicates that its high dividend yield is sustainable for the long-term.

3. National Steel Co (NYSE:SID)

National Steel Co (NYSE:SID) has an annual dividend yield of 5.61%, which is 3 percentage points higher than the steel industry average of 2.36%. 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 -860.2% indicates that its high dividend yield might not be sustainable for the long-term.

Why are steel stocks up?

Steel stocks were up 0.08% in the last day, and up 0.61% 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. 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 55 points higher than the steel industry average of 31. It passed 6 out of 7 valuation due diligence checks.

Algoma Steel Group's stock has gained 5.62% 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 40 points higher than the steel industry average of 31. It passed 5 out of 7 valuation due diligence checks.

Gerdau Sa's stock has dropped -9.51% in the past year. It has underperformed other stocks in the steel industry by -32 percentage points.

3. Friedman Industries (NYSEMKT:FRD)

Friedman Industries (NYSEMKT:FRD) is the third most undervalued steel stock based on WallStreetZen's Valuation Score. Friedman Industries has a valuation score of 57, which is 26 points higher than the steel industry average of 31. It passed 4 out of 7 valuation due diligence checks.

Friedman Industries's stock has gained 74.28% in the past year. It has overperformed other stocks in the steel industry by 52 percentage points.

Are steel stocks a good buy now?

50% of steel stocks rated by analysts are a buy right now. On average, analysts expect steel stocks to rise by 15.32% 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 12.06x.

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.