A lot has been written about Steel Dynamics Inc. (NASDAQ: STLD) the growing "mini-mill" located in Fort-Wayne Indiana. In the last year it reported sales growth of 48% and many think it is still a bargain at Thursday's closing price of $41.28. I have been watching it for a couple of months and thought it makes for an interesting story.
You will not find consensus among analysts because this was news on May 29, 2007, creating some downward pressure on the stock that day only to be followed by this news the very next day. Ahhh, the joys of investing. Naturally both UBS and Citigroup had their highly-paid analysts digging deeper than us private investors ever could. Their level of analysis must be worthy of a graduate thesis, I'm sure. More recently, like today Merrill Lynch upgrades Nucor, Steel Dynamics to buy. But since they all seem to cancel each other out I thought it was time to do my own back of the napkin review.
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