Steel Dynamics Crushed It in 2021 -- Here's the Proof
Steel Dynamics (NASDAQ: STLD) was co-founded by CEO Mark Millett, who just so happened to work for Nucor, which is easily one of the best-run steel mills on Earth. So it's not particularly surprising that Steel Dynamics is operating with a strong playbook. And 2021 proved just how strong. Here's a quick look at the numbers to back that statement up -- and another couple that help explain why you might want to put this stock on your wishlist, but probably not your buy list.
The U.S. economy was hit hard in 2020 by the government-mandated shutdowns, social distancing, and work-from-home trends that took shape thanks to the pandemic and the world's response to it. That said, 2021 proved to be a huge bounce-back year, with economic growth quickly recovering from the hit it took. And Steel Dynamics was there to benefit by supplying customers -- notably in the construction, auto, and industrial sectors -- with an increasing amount of steel at, conveniently, higher prices. The average selling price last year was up nearly 80% over 2020 levels.
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Source Fool.com
