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 1.91 million 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 earnings per share, up 184.00% or $0.46 from last year’s $0.25 per share. STLD’s profit will be $169.94M for 8.43 P/E if the $0.71 EPS becomes a reality. After $0.58 actual earnings per share 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 10.86% above today’s ($23.94) stock price. Steel Dynamics Inc. has been the topic of 31 analyst reports since July 22, 2015 according to StockzIntelligence Inc. Cowen & Co maintained Steel Dynamics, Inc. (NASDAQ:STLD) on Wednesday, October 21 with “Outperform” rating. The rating was maintained by Citigroup on Wednesday, October 21 with “Buy”. TheStreet upgraded the shares of STLD in a report on Tuesday, September 1 to “Hold” rating. The rating was maintained by Cowen & Co with “Outperform” on Wednesday, July 20. The company was downgraded on Wednesday, July 20 by Bank of America. The firm has “Overweight” rating by Barclays Capital given on Wednesday, July 13. On Tuesday, March 8 the stock rating was upgraded by Berenberg to “Buy”. The stock of Steel Dynamics, Inc. (NASDAQ:STLD) earned “Buy” rating by Nomura on Monday, December 14. Barclays Capital maintained the shares of STLD in a report on Tuesday, April 19 with “Overweight” rating. The company was maintained on Wednesday, March 23 by KeyBanc Capital Markets.

Insitutional Activity: The institutional sentiment decreased to 1.39 in 2016 Q2. Its down 0.08, from 1.47 in 2016Q1. The ratio fall, 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.
Dekabank Deutsche Girozentrale last reported 0% of its portfolio in the stock. Tci Wealth Incorporated owns 57 shares or 0% of their US portfolio. Federated Pa owns 156,262 shares or 0.01% of their US portfolio. Eventide Asset Mngmt Ltd Co owns 1.49M shares or 2.23% of their US portfolio. First Mercantile Co has 0.01% invested in the company for 3,701 shares. Clearbridge Ltd Liability Com reported 3.17 million shares or 1.55% of all its holdings. Teachers accumulated 0.05% or 1.09 million shares. Da Davidson And last reported 0% of its portfolio in the stock. Ameriprise Finance reported 3.76 million shares or 0.05% of all its holdings. Leavell Invest Mgmt last reported 0.04% of its portfolio in the stock. Winfield Assocs Inc owns 80 shares or 0% of their US portfolio. Neuberger Berman Gru Limited Co accumulated 0% or 25,076 shares. Smith Asset Gru Limited Partnership has 0% invested in the company for 2,250 shares. Voya Limited Company owns 489,777 shares or 0.03% of their US portfolio. Benjamin F Edwards And Co Incorporated has invested 0.01% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD).

Insider Transactions: Since July 25, 2016, the stock had 0 insider buys, and 2 insider sales for $842,010 net activity. Shares for $355,185 were sold by BUSSE KEITH E. On Monday, July 25 the insider KOLB JURGEN DR sold $486,825.

Steel Dynamics, Inc. is a steel producing and a metal recycling company. The company has a market cap of $5.73 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 604.67 P/E ratio.

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