5 Best Metal Stocks to Invest In

4. Steel Dynamics, Inc. (NASDAQ:STLD)

Number of Hedge Fund Holders: 30

Steel Dynamics, Inc. (NASDAQ:STLD) is a steel producer and metal recycler in the US. The company is based in Fort Wayne, Indiana.

Emily Chieng at Goldman Sachs upgraded shares of Steel Dynamics, Inc. (NASDAQ:STLD) from Neutral to Buy on October 6. The analyst also placed an $88 price target on the stock.

Goldman Sachs noted this October that Steel Dynamics, Inc. (NASDAQ:STLD) has underappreciated earnings potential that can drive consensus earnings revisions higher in the coming quarters. The company’s dividend yield is 1.66% as of October 19, and it has consistently increased over the past nine years.

Steel Dynamics, Inc. (NASDAQ:STLD) was found among the 13F holdings of 30 hedge funds in the second quarter, and 29 hedge funds in the previous quarter. Their total stake values were $366 million and $390 million, respectively.