US steel producers
In this series, we’ll see how analysts are rating leading steel producers. For the purpose of this analysis, we’ll use companies that are headquartered in the United States. Before we see how analysts are rating steel producers, let’s take a look at the top five US-based steel companies.
Top five US steel producers
- Nucor (NUE) is the largest US-based steelmaker (XME). The company shipped 6.8 million tons of steel to outside customers in 2Q17, a YoY (year-over-year) rise of 4.5%. Nucor is ranked 12th among the global steel producers.
- U.S. Steel (X) is the second largest US-based steel producer. It shipped 3.8 million tons of steel to outside customers in 2Q17 as compared to 3.9 million tons in 2Q16. These shipments also include its Europe shipments.
- Steel Dynamics (STLD) is the third largest US-based steelmaker based on 2Q17 steel shipments.
- AK Steel (AKS) shipped 1.5 million tons of steel to outside customers in 2Q17, making it the fourth largest US-based steel producer. AK Steel has deliberately cut its shipments to concentrate on value-add products.
- Commercial Metals Company’s (CMC) steel mill operations shipped 0.72 million tons of steel in fiscal 3Q17. Note that the company’s financial year runs from July to August.
Analysts’ ratings tell us what Wall Street expects from a particular company. In this series, we’ll see which steel companies are rated favorably by Wall Street. Let’s begin by looking at the steel stock with the most “buy” recommendations.