Could Steel Dynamics, Inc. Gain Strenght? Option Traders Don’t Think So


 Could Steel Dynamics, Inc. Gain Strenght? Option Traders Don't Think So

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 2.21M 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 $170.00M for 8.41 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 11.14% above today’s ($23.88) stock price. Steel Dynamics Inc. has been the topic of 31 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Wednesday, January 6 by Rosenblatt. On Monday, March 14 the stock rating was downgraded by Rosenblatt to “Neutral”. The rating was downgraded by Bank of America to “Neutral” on Wednesday, July 20. Deutsche Bank maintained the shares of STLD in a report on Thursday, August 13 with “Buy” rating. The firm earned “Overweight” rating on Tuesday, January 12 by Barclays Capital. The firm earned “Outperform” rating on Wednesday, October 21 by Cowen & Co. The firm earned “Buy” rating on Monday, December 14 by Nomura. The firm has “Overweight” rating by Barclays Capital given on Monday, October 5. Berenberg upgraded it to “Buy” rating and $23.50 target price in Tuesday, March 8 report. The firm has “Outperform” rating by Credit Suisse given on Wednesday, March 23.

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.
Cambridge Inv Research Advsr Inc accumulated 11,746 shares or 0.01% of the stock. New York Life Trust holds 0.42% or 3,546 shares in its portfolio. Susquehanna Grp Llp owns 134,268 shares or 0% of their US portfolio. Parametric Associate Lc holds 340,359 shares or 0.01% of its portfolio. Hillsdale Inv holds 12,500 shares or 0.09% of its portfolio. Amalgamated Savings Bank last reported 33,370 shares in the company. The New Jersey-based Princeton Alpha Mgmt Ltd Partnership has invested 0.2% in Steel Dynamics, Inc. (NASDAQ:STLD). Monarch Cap Management has 108,245 shares for 0.99% of their US portfolio. Nomura Asset Management Ltd reported 4,650 shares or 0% of all its holdings. Prudential Inc accumulated 3.47M shares or 0.14% of the stock. Winfield Associates holds 0% or 80 shares in its portfolio. Koshinski Asset Management, a Illinois-based fund reported 12,775 shares. Brave Asset Mgmt last reported 12,500 shares in the company. Moreover, Great West Life Assurance Company Can has 0% invested in Steel Dynamics, Inc. (NASDAQ:STLD) for 28,827 shares. Pinebridge Invs Lp has invested 0.16% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD).

Insider Transactions: Since July 25, 2016, the stock had 0 insider buys, and 2 selling transactions for $842,010 net activity. Another trade for 13,155 shares valued at $355,185 was sold by BUSSE KEITH E. 17,900 shares were sold by KOLB JURGEN DR, worth $486,825.

Steel Dynamics, Inc. is a steel producing and a metal recycling company. The company has a market cap of $5.72 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 603.03 P/E ratio.

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