Jim Cramer’s Bold Predictions About These 10 Industrial Stocks

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

Number of Hedge Fund Holders In Q3 2024: 38

Date of Cramer’s Comments: 8-19-24

Performance Since Then: -0.25%

Steel Dynamics, Inc. (NASDAQ:STLD) is a large American steel producer and recycling firm. As has been the case with its peers, the firm is ending 2024 on a difficult note. Its shares are down by 10.36% year-to-date as the broader industrial economy in the US continues to struggle. Benchmark steel prices in the US had dropped by 30% to $700 a ton by December and Steel Dynamics, Inc. (NASDAQ:STLD)’s peers continued to miss analyst EPS estimates for the third quarter. Since August, the only catalyst that the shares have seen is President-elect Trump’s election victory which sent the shares soaring by 13.8%. Here’s what Cramer had to say about the stock in August:

“Steel Dynamics is a really really good company but we’re dealing with, uh, a wave of dumping of Steel by China that’s coming through Mexico and we’re not enforcing it and that’s bringing down Steel Dynamics and Nucor. They are the two best in the industry so it’s tough to watch. I can’t endorse it here because of what’s happening even though it’s very cheap. I don’t like what’s happening below the Border.”