5 Best Steel Stocks to Buy Amid Upcoming Infrastructure, Construction Boom

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In this article we discuss the 5 best steel stocks to buy amid upcoming infrastructure, construction boom. If you want to read our detailed analysis of these companies, go directly to the 10 Best Steel Stocks to Buy Amid Upcoming Infrastructure, Construction Boom.

5. Gerdau S.A. (NYSE: GGB)

Number of Hedge Fund Holders: 11

Gerdau is a Brazilian steel company whose stock has gained over 100% in the last 12 months. The company is benefitting from the increasing prices and demand in the local markets. The company’s management in the past has practiced strict capex measures to control costs. However, for 2021, the company upped its capex guidance to R$ 3.5 billion, more than double the level of 2020.  However, roughly R$1.5 billion of this would be used for maintenance, innovation and technology.

As of the end of the first quarter, 11 hedge funds in Insider Monkey’s database of 887 funds held stakes in GGB, compared to 15 funds in the fourth quarter. Contrarian Capital is the biggest stakeholder in the company, with 19.9 million shares, worth $106 million.

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