Bearish Options Activity on Steel Dynamics, Inc. After Worse Fundamentals

 Bearish Options Activity on Steel Dynamics, Inc. After Worse Fundamentals

In today’s session Steel Dynamics, Inc. (STLD) recorded an unusually high (4,530) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious STLD decrease. With 4,530 contracts traded and 9524 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: STLD161021P00025000 closed last at: $0.85 or 5.6% down. About 379,653 shares traded hands. Steel Dynamics, Inc. (NASDAQ:STLD) has risen 27.14% since March 1, 2016 and is uptrending. It has outperformed by 17.89% the S&P500.

Analysts await Steel Dynamics, Inc. (NASDAQ:STLD) to report earnings on October, 17. They expect $0.71 EPS, up 184.00% or $0.46 from last year’s $0.25 per share. STLD’s profit will be $170.07 million for 8.58 P/E if the $0.71 EPS becomes a reality. After $0.58 actual EPS reported by Steel Dynamics, Inc. for the previous quarter, Wall Street now forecasts 22.41% EPS growth.

Steel Dynamics, Inc. (NASDAQ:STLD) Ratings Coverage

Out of 12 analysts covering Steel Dynamics Inc. (NASDAQ:STLD), 9 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 75% are positive. $33 is the highest target while $21 is the lowest. The $26.54 average target is 8.86% above today’s ($24.38) stock price. Steel Dynamics Inc. has been the topic of 31 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The rating was maintained by Barclays Capital on Tuesday, April 19 with “Overweight”. Nomura maintained the shares of STLD in a report on Wednesday, March 9 with “Buy” rating. The firm has “Buy” rating by Berenberg given on Tuesday, March 8. As per Thursday, August 13, the company rating was maintained by Deutsche Bank. The stock has “Buy” rating given by Citigroup on Monday, August 22. Rosenblatt downgraded Steel Dynamics, Inc. (NASDAQ:STLD) on Monday, March 14 to “Neutral” rating. The rating was downgraded by Bank of America to “Neutral” on Wednesday, July 20. The stock of Steel Dynamics, Inc. (NASDAQ:STLD) earned “Outperform” rating by Cowen & Co on Wednesday, July 20. The firm earned “Outperform” rating on Wednesday, June 8 by Credit Suisse. Rosenblatt initiated Steel Dynamics, Inc. (NASDAQ:STLD) rating on Wednesday, January 6. Rosenblatt has “Buy” rating and $21 price target.

Insitutional Activity: The institutional sentiment decreased to 1.39 in Q2 2016. Its down 0.08, from 1.47 in 2016Q1. The ratio worsened, as 38 funds sold all Steel Dynamics, Inc. shares owned while 104 reduced positions. 70 funds bought stakes while 128 increased positions. They now own 197.44 million shares or 4.76% more from 188.47 million shares in 2016Q1.
Catawba Cap Mngmt Va holds 0.11% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD) for 18,708 shares. Union Bancshares last reported 0.13% of its portfolio in the stock. Sentinel Tru Lba has 135,918 shares for 0.47% of their US portfolio. Credit Suisse Ag, a Switzerland-based fund reported 971,147 shares. Kings Point Cap Mgmt reported 587 shares or 0% of all its holdings. Frontier Capital Mgmt Limited Liability Co has 0.05% invested in the company for 235,182 shares. Guggenheim Cap Ltd Liability Corporation has 0.01% invested in the company for 191,538 shares. Great West Life Assurance Can accumulated 28,827 shares or 0% of the stock. Qs Investors Ltd Liability Corp accumulated 542,556 shares or 0.11% of the stock. Scout Investments accumulated 682,971 shares or 0.47% of the stock. Sg Americas Secs Limited owns 88,334 shares or 0.02% of their US portfolio. Picton Mahoney Asset Management holds 0.05% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD) for 31,600 shares. Jane Street Gru Limited Liability Corp holds 9,968 shares or 0% of its portfolio. First Mercantile last reported 3,701 shares in the company. Van Eck Assocs Corp reported 3.09 million shares or 0.39% of all its holdings.

Insider Transactions: Since July 25, 2016, the stock had 0 insider buys, and 2 sales for $842,010 net activity. On Friday, July 29 BUSSE KEITH E sold $355,185 worth of the stock or 13,155 shares. KOLB JURGEN DR also sold $486,825 worth of Steel Dynamics, Inc. (NASDAQ:STLD) shares.

Steel Dynamics, Inc. is a steel producing and a metal recycling company. The company has a market cap of $5.84 billion. The Firm is engaged in manufacturing and selling of steel products, processing and selling of recycled ferrous and non-ferrous metals, and fabricating and selling of steel joist and deck products. It has a 615.66 P/E ratio.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Tags: , ,

Related posts

Leave a Comment