X - This Dividend Growth Stock Is Doing Better Than Wall Street Thinks
2024-01-13 06:02:00 ET
The steel industry is highly cyclical, and investors in the sector just need to accept that. To help deal with this situation, however, companies like Steel Dynamics (NASDAQ: STLD) have taken to providing earnings guidance updates close to their actual earnings releases. In this way, it can avoid unexpected surprises. This time around, though, Wall Street's thinking was way off the mark. And that was good news.
When you compare Steel Dynamics to industry icons like United States Steel (NYSE: X) , which has been around for over 100 years, it is a relative upstart. Even industry bellwether and Dividend King Nucor (NYSE: NUE) , which has been operating in the steel sector for roughly 50 years, is a much more established competitor.
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This Dividend Growth Stock Is Doing Better Than Wall Street Thinks