5 Best Steel Stocks to Invest In

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

Number of Hedge Fund Holders: 33

Steel Dynamics, Inc. (NASDAQ:STLD) is one of the largest domestic steel producers and metals recyclers in the United States with facilities located throughout the United States, and in Mexico. It produces steel products, including hot roll, cold roll, and coated sheet steel, structural steel beams and shapes, rail, engineered special-bar-quality steel, and cold finished steel, among others.

Steel Dynamics, Inc. (NASDAQ:STLD) has paid regular quarterly cash dividends for more than a decade. During the last 10 years, its dividend payouts have grown at a CAGR of 14.47% and the company currently pays a quarterly cash dividend of $0.425 per common share.

As of Q1 2023, Steel Dynamics, Inc. (NASDAQ:STLD) shares were held by 33 hedge funds with a total value of $304 million. Cliff Asness’ AQR Capital Management was its largest hedge fund shareholder with ownership of 1.3 million shares valued at $142 million.