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5 Steel Stocks for 2012

4. Steel Dynamics (STLD - Get Report) is a steel producer and metals recycler. It also engages in the fabrication and sale of steel joists and decking products.

For the third quarter 2011, STLD recorded net income of $43 million, up 126% compared to the 2010 third quarter. Steel shipments were 1.5 million tons, up 12%. Operating income from steel operations was $139 million, or $96 per ton, shipped in the third quarter of 2011, an increase of $51 million.

The third quarter's average ferrous scrap cost per ton melted increased $79 compared to the 2010 third quarter and up $5 from the second quarter of 2011.

STLD expects fourth-quarter earnings of 8 cents to 12 cents per diluted share and announced a cash dividend of 10 cents per share payable Jan. 13 to shareholders of record Dec. 31.

Of the 17 analysts covering the stock, 59% recommend buying and the rest suggest a hold. The stock's average 12-month price target is $16.05, about 7% higher than the current price, a Bloomberg consensus shows.

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