SDI added to S&P Index

Steel Dynamics Inc. (SDI) has been added to the S&P 500 Index of stocks effective Dec. 22, 2022.

The Fort Wayne, Indiana-based scrap-fed electric arc furnace (EAF) steel producer, which also owns scrap processing and trading company OmniSource, says it is “one of the largest domestic steel producers and metals recyclers in the United States.”

SDI says S&P Dow Jones Indices “is the largest global resource for benchmarks and investable indices, including the Dow Jones Industrial Average, as well as the S&P 500,” also referring to S&P as offering “premier benchmarks” in the U.S. equities market.

“It is a great honor to be selected for inclusion in the S&P 500 index,” SDI President and CEO Mark D. Millett says. “Since our founding almost 30 years ago, the Steel Dynamics team has created a best-in-class, innovative company that is committed to operating with the highest integrity. We thank all of those that contribute to our success – our loyal customers, vendors, communities and shareholders. My heartfelt thanks also go to our extraordinary team members for their passion, innovation and dedication to each other and to a spirit of excellence.”

In July of last year, SDI was singled out by Chicago-based Zacks Equity Research, with that firm calculating that someone who invested in SDI’s stock in August 2011 would have earned a 488 percent return on a $1,000 investment. “In comparison, the S&P 500 gained 285.77 percent and the price of gold went down by 7.14 percent over the same timeframe,” said the research firm.

Also last year, SDI was named by Fortune magazine as one of the 2021 World’s Most Admired Companies, ranking No. 1 on that list within the metals industry.