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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
OverviewZen ScorePriceValuation
FinancialsForecastEarnings & RevenueDividendsOwnershipTechnicals
Ticker
Company
Price
Valuation Score
Graham Fair Value
Graham Fair Value %
P/E
Forward P/E
P/S
P/B
PEG
Free Cash Flow
Free Cash Flow Yield
Book Value
BVPS
EV
EV/EBITDA
SID
NATIONAL STEEL CO
$2.79$15.07-81.49%11.87x2.58x0.42x0.95x0.07x-$262.94M-7.10%$3.91B2.95$9.51B4.82
STLD
STEEL DYNAMICS INC
$140.97N/AN/A9.58x15.82x1.25x2.51xN/A$1.86B7.93%$8.87B53.24$23.97B6.45
GGB
GERDAU SA
$4.46$9.39-52.50%5.23xN/A0.57x0.80x0.33x$1.69B21.61%$9.75B5.55$9.66B3.53
CMC
COMMERCIAL METALS CO
$55.76N/AN/A9.56x10.33x0.77x1.53xN/A$657.51M10.13%$4.22B36.28$6.98B5.89
RS
RELIANCE INC
$325.23N/AN/A14.20x15.93x1.28x2.42xN/A$1.21B6.40%$7.72B132.39$18.97B9.38
NUE
NUCOR CORP
$194.01N/AN/A10.75x17.98x1.35x2.23xN/A$4.91B10.52%$20.94B86.98$47.16B6.71
MT
ARCELORMITTAL
$26.95$76.22-64.64%24.72x4.81x0.32x0.41x0.13x$3.75B16.98%$53.96B65.87$24.98B5.32
FRD
FRIEDMAN INDUSTRIES INC
$19.14$22.86-16.26%7.57xN/A0.26x1.09x0.75x$7.86M5.89%$122.74M17.59$175.56M5.76
HUDI
HUADI INTERNATIONAL GROUP CO LTD
$2.53N/AN/A11.00xN/A0.42x0.48xN/A-$6.04M-16.88%$74.41M5.26$26.63M5.93
SIM
GRUPO SIMEC SAB DE CV
$33.00$40.76-19.05%11.65xN/A1.69x1.91x0.46x$402.71M7.92%$2.66B17.28$3.88B5.67
CLF
CLEVELAND-CLIFFS INC
$21.24$38.99-45.52%27.23x7.98x0.48x1.34x0.21x$1.62B15.32%$7.89B15.83$13.52B7.48
ZEUS
OLYMPIC STEEL INC
$68.62$26.50158.90%17.82xN/A0.37x1.38x4.47x$154.08M19.40%$555.48M48.00$975.96M9.32
ASTL
ALGOMA STEEL GROUP INC
$7.73$22.42-65.52%19.52x4.96x0.38x0.74x0.13x-$127.61M-15.94%$1.08B10.38$835.93M4.92
MTUS
METALLUS INC
$21.41N/AN/A13.55x11.27x0.69x1.28xN/A$75.40M8.02%$731.60M16.67$683.67M4.68
X
UNITED STATES STEEL CORP
$40.82N/AN/A10.26x18.39x0.51x0.83xN/A-$468.00M-5.12%$11.05B49.38$10.52B6.14
PKX
POSCO HOLDINGS INC
$70.01N/AN/A16.70xN/A0.37x0.52xN/A-$847.40M-3.99%$40.60B133.77$35.95B4.56
MSB
MESABI TRUST
$17.05N/AN/A19.83xN/A15.47x10.58xN/A$8.41M3.76%$21.14M1.61$200.78M17.80
ACNT
ASCENT INDUSTRIES CO
$10.30N/AN/A-3.92xN/A0.54x0.97xN/A$20.19M19.33%$107.41M10.59$135.26M-6.32
USAP
UNIVERSAL STAINLESS & ALLOY PRODUCTS INC
$24.96N/AN/A46.22xN/A0.79x1.01xN/A$12.21M5.38%$226.04M24.88$314.56M9.49
ZKIN
ZK INTERNATIONAL GROUP CO LTD
$0.66N/AN/A-3.14xN/A0.18x0.23xN/AN/AN/A$86.54M2.85$38.95MN/A
RDUS
RADIUS RECYCLING
$17.60N/AN/A-7.75xN/A0.18x0.58xN/A-$37.52M-7.49%$844.44M29.68$970.39M21.48
HLP
HONGLI GROUP INC
$1.10N/AN/A6.47xN/A0.66x0.66xN/A-$2.34M-19.09%$20.58M1.85$20.13M5.95
INHD
INNO HOLDINGS INC
$0.57N/AN/AN/AN/AN/A2.22xN/AN/AN/A$5.36M0.29$5.34MN/A
1

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 lose -7.31% over the past year, underperforming other steel stocks by -28 percentage points.

National Steel Co has an average 1 year price target of $2.95, an upside of 5.73% from National Steel Co's current stock price of $2.79.

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 32.94% over the past year, overperforming other steel stocks by 12 percentage points.

Steel Dynamics has an average 1 year price target of $121.00, a downside of -14.17% from Steel Dynamics's current stock price of $140.97.

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 -15.05% over the past year, underperforming other steel stocks by -36 percentage points.

Gerdau Sa has an average 1 year price target of $5.55, an upside of 24.44% from Gerdau Sa's current stock price of $4.46.

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 14.22%, which is 11 percentage points higher than the steel industry average of 2.83%. 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 6.84%, which is 4 percentage points higher than the steel industry average of 2.83%. 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 35.8% 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 4.26%, which is 1 percentage points higher than the steel industry average of 2.83%. 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 down?

Steel stocks were down -0.07% in the last day, and down -3.77% over the last week.

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

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 dropped -1.9% in the past year. It has underperformed other stocks in the steel industry by -22 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 -15.05% in the past year. It has underperformed other stocks in the steel industry by -36 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 dropped -7.31% in the past year. It has underperformed other stocks in the steel industry by -28 percentage points.

Are steel stocks a good buy now?

40% of steel stocks rated by analysts are a buy right now. On average, analysts expect steel stocks to rise by 2.58% 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 14.21x.
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