5. Steel Dynamics (STLD), a steel producer and metals recycler, operates in three segments: steel, metals recycling and ferrous resources, and steel fabrication. It also engages in the fabrication and sale of steel joists and decking products. Currently, the company has a dividend yield of 1.73%.
For the first quarter of 2011, net sales were $2 billion, increasing 25% from the year-ago quarter. Meanwhile, net income stood at $106 million or 46 cents per diluted share, compared to $65 million or 29 cents per diluted share in the first quarter of 2010. Steel shipments for the quarter increased 4% year-over-year and 10% sequentially.
The company recently announced its plan to build a state-of-the art flat-rolled steel mill along the Ohio River. The company's CEO confirmed that the location is yet to be finalized, but would zero down to a site on the Ohio River. He said that construction is likely to start by 2012 and completion would take a further two years.Of the 10 analysts covering the stock 80% recommend a buy and 10% rate a hold. Data from Bloomberg has analysts predicting an average 12-month price target of $22.88, about 38.5% higher than the stock's recent price.
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