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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
Performance Score
Market Cap
Revenue
EBITDA
Earnings
EPS
Revenue Growth Y/Y
Revenue Growth 5Y
Earnings Growth Y/Y
Earnings Growth 5Y
Earnings Date
GGB
GERDAU SA
$7.78B$15.94B$3.91B$2.21B$1.2010.76%6.92%-24.32%N/A2023-11-07
SID
NATIONAL STEEL CO
$3.10B$8.91B$1.97B$312.06M$0.24-2.51%8.43%-86.18%156.26%2023-11-08
STLD
STEEL DYNAMICS INC
$17.61B$20.45B$4.38B$3.00B$17.34-7.79%14.32%-23.17%31.50%2023-10-18
RS
RELIANCE STEEL & ALUMINUM CO
$15.22B$15.70B$2.28B$1.51B$25.66-7.64%8.23%-16.53%18.50%2023-10-26
CMC
COMMERCIAL METALS CO
$5.67B$9.00B$1.48B$964.22M$8.195.39%15.28%-8.18%75.64%2023-10-12
NUE
NUCOR CORP
$38.50B$37.46B$8.33B$5.55B$21.78-12.82%10.94%-33.05%32.97%2023-10-24
ASTL
ALGOMA STEEL GROUP INC
$689.76M$2.02B$207.73M$96.89M$0.83-34.42%N/A-87.79%N/A
FRD
FRIEDMAN INDUSTRIES INC
$99.05M$523.04M$28.88M$17.85M$2.4237.24%29.03%25.39%19.10%2023-11-30
HLP
HONGLI GROUP INC
$17.25M$20.28M$4.11M$2.93M$0.29-6.59%N/A-9.38%N/A
SIM
GRUPO SIMEC SAB DE CV
$4.96B$3.01B$684.92M$436.57M$2.832.47%13.76%-12.35%34.90%2023-10-27
HUDI
HUADI INTERNATIONAL GROUP CO LTD
$45.57M$77.53M$5.42M$3.37M$0.250.50%N/A66.67%N/A
CLF
CLEVELAND-CLIFFS INC
$7.99B$21.98B$1.61B$228.00M$0.46-7.05%61.46%-93.33%-21.26%2023-10-23
X
UNITED STATES STEEL CORP
$7.31B$19.02B$2.55B$1.34B$5.95-17.70%7.68%-67.92%14.22%2023-10-25
ZEUS
OLYMPIC STEEL INC
$600.93M$2.30B$92.92M$40.90M$3.53-14.89%9.36%-71.83%6.06%2023-11-01
RDUS
RADIUS RECYCLING
$766.46M$3.06B$115.74M$10.38M$0.38-11.01%6.92%-94.68%-38.01%2023-10-25
TMST
TIMKENSTEEL CORP
$938.19M$1.24B$94.60M-$3.20M$0.00-14.31%-3.37%-100.00%N/A2023-11-01
MT
ARCELORMITTAL
$19.88B$79.84B$13.93B$9.30BN/A4.27%3.06%N/AN/A2023-11-09
ZKIN
ZK INTERNATIONAL GROUP CO LTD
$20.33M$109.16MN/A-$6.13M-$0.219.02%16.46%N/AN/A
USAP
UNIVERSAL STAINLESS & ALLOY PRODUCTS INC
$109.78M$237.28M$19.11M-$4.64M-$0.5131.74%0.54%N/AN/A2023-10-17
ACNT
ASCENT INDUSTRIES CO
$89.43M$324.84M-$13.45M-$19.09M-$1.87-15.11%6.44%N/AN/A2023-11-06
MSB
MESABI TRUST
$264.89M$9.65M$6.78M$6.78M$0.52-78.14%-25.24%-83.91%-29.93%
PKX
POSCO HOLDINGS INC
$30.49B$60.08B$8.11B$954.61M$3.14-8.34%1.67%-82.69%-17.19%2023-10-23

Steel Stocks FAQ

What are the best steel stocks to buy right now in Oct 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 61, which is 26 points higher than the steel industry average of 35. It passed 22 out of 38 due diligence checks and has strong fundamentals. Gerdau Sa has seen its stock return 0.45% over the past year, underperforming other steel stocks by -36 percentage points.

2. National Steel Co (NYSE:SID)


National Steel Co (NYSE:SID) is the second best steel stock with a Zen Score of 59, which is 24 points higher than the steel industry average of 35. It passed 22 out of 38 due diligence checks and has strong fundamentals. National Steel Co has seen its stock lose -10% over the past year, underperforming other steel stocks by -47 percentage points.

National Steel Co has an average 1 year price target of $2.30, a downside of -1.71% from National Steel Co's current stock price of $2.34.

National Steel Co stock has a consensus Sell recommendation according to Wall Street analysts. Of the 1 analyst 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.

3. Steel Dynamics (NASDAQ:STLD)


Steel Dynamics (NASDAQ:STLD) is the third best steel stock with a Zen Score of 55, which is 20 points higher than the steel industry average of 35. It passed 20 out of 38 due diligence checks and has strong fundamentals. Steel Dynamics has seen its stock return 41.01% over the past year, overperforming other steel stocks by 4 percentage points.

Steel Dynamics has an average 1 year price target of $111.50, an upside of 4.88% from Steel Dynamics's current stock price of $106.31.

Steel Dynamics stock has a consensus Hold 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, 50% have issued a hold, while 0% have issued a Sell rating, and 16.67% have issued a Strong Sell.

What are the steel stocks with highest dividends?

Out of 12 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 24.16%, which is 20 percentage points higher than the steel industry average of 4.19%. National Steel Co's dividend payout is not stable, having dropped more than 10% seven 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 13.37%, which is 9 percentage points higher than the steel industry average of 4.19%. 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 shown consistent growth over the last 10 years.

Gerdau Sa's dividend payout ratio of 56% 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 2.69%, which is -2 percentage points lower than the steel industry average of 4.19%. 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 197.4% indicates that its dividend yield might not be sustainable for the long-term.

Why are steel stocks down?

Steel stocks were down -1.18% in the last day, and down -0.64% 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. Friedman Industries (NYSEMKT:FRD)


Friedman Industries (NYSEMKT:FRD) is the most undervalued steel stock based on WallStreetZen's Valuation Score. Friedman Industries has a valuation score of 71, which is 37 points higher than the steel industry average of 34. It passed 5 out of 7 valuation due diligence checks.

Friedman Industries's stock has gained 83.22% in the past year. It has overperformed other stocks in the steel industry by 46 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 37 points higher than the steel industry average of 34. It passed 5 out of 7 valuation due diligence checks.

Gerdau Sa's stock has gained 0.45% 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 37 points higher than the steel industry average of 34. It passed 5 out of 7 valuation due diligence checks.

National Steel Co's stock has dropped -10% in the past year. It has underperformed other stocks in the steel industry by -47 percentage points.

Are steel stocks a good buy now?

60% of steel stocks rated by analysts are a strong buy right now. On average, analysts expect steel stocks to rise by 14.7% 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 12.67x.
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.