Steel Dynamics dips despite Q3 revenue beating forecast

** Shares of U.S. steelmaker Steel Dynamics STLD.O fall nearly 1% to $144.92 in premarket

** Co on Monday posted third-quarter profit and revenue above Wall Street estimates, as a decline in the costs of scrap raw material outpaced average pricing at its steelmaking operations

** Jefferies maintains a 'buy' stance on the stock, citing "quarterly shipments reached a record high, and the company should continue to benefit from lower steel imports (and higher steel prices) in the US"

** Revenue for the quarter ended September 30 rose 11.2% to $4.83 billion from a year ago, beating Wall Street expectations of $4.8 billion

** Average rating of 15 analysts is "buy"; median PT $153.5 - data compiled by LSEG

** As of last close, co is up nearly 28.23% YTD