Is Steel Dynamics, Inc. a Sell? The Stock Had Bearish Options Activity Today

 Is Steel Dynamics, Inc. a Sell? The Stock Had Bearish Options Activity Today

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 1.37M 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 $169.90 million for 8.48 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 10.26% above today’s ($24.07) stock price. Steel Dynamics Inc. has been the topic of 31 analyst reports since July 22, 2015 according to StockzIntelligence Inc. As per Thursday, September 17, the company rating was maintained by Jefferies. The rating was initiated by Citigroup on Monday, August 22 with “Buy”. The stock of Steel Dynamics, Inc. (NASDAQ:STLD) has “Neutral” rating given on Tuesday, May 10 by Rosenblatt. The firm has “Buy” rating given on Thursday, August 13 by Deutsche Bank. Berenberg initiated Steel Dynamics, Inc. (NASDAQ:STLD) on Wednesday, October 14 with “Buy” rating. Bank of America downgraded Steel Dynamics, Inc. (NASDAQ:STLD) on Wednesday, July 20 to “Neutral” rating. On Tuesday, April 19 the stock rating was maintained by Barclays Capital with “Overweight”. The stock of Steel Dynamics, Inc. (NASDAQ:STLD) has “Outperform” rating given on Wednesday, March 23 by Credit Suisse. Barclays Capital maintained the stock with “Overweight” rating in Monday, October 5 report. On Monday, December 14 the stock rating was upgraded by Nomura to “Buy”.

Insitutional Activity: The institutional sentiment decreased to 1.39 in Q2 2016. Its down 0.08, from 1.47 in 2016Q1. The ratio dropped, 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.
Thompson Davis has 113 shares for 0% of their US portfolio. Moreover, Enterprise Financial has 0.01% invested in Steel Dynamics, Inc. (NASDAQ:STLD) for 569 shares. The Connecticut-based Verition Fund Mngmt Limited has invested 0.27% in Steel Dynamics, Inc. (NASDAQ:STLD). Smith Asset Group Ltd Partnership holds 2,250 shares or 0% of its portfolio. Utah Retirement accumulated 42,741 shares or 0.03% of the stock. Raymond James Trust Na, a Florida-based fund reported 11,683 shares. First Mercantile Tru Com holds 0.01% or 3,701 shares in its portfolio. Dimensional Fund Advsrs Lp accumulated 0.08% or 5.89M shares. Shelton holds 0.05% or 23,032 shares in its portfolio. Arizona State Retirement Sys reported 95,130 shares or 0.03% of all its holdings. Hwg, a Texas-based fund reported 127,653 shares. Principal Gru last reported 1.30 million shares in the company. Eventide Asset Mngmt Lc has invested 2.23% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD). Benjamin F Edwards Communications accumulated 0.01% or 1,200 shares. Canada Pension Plan Board owns 320,661 shares or 0.03% of their US portfolio.

Insider Transactions: Since July 25, 2016, the stock had 0 insider purchases, and 2 insider sales for $842,010 net activity. Another trade for 13,155 shares valued at $355,185 was sold by BUSSE KEITH E. KOLB JURGEN DR also sold $486,825 worth of Steel Dynamics, Inc. (NASDAQ:STLD) on Monday, July 25.

Steel Dynamics, Inc. is a steel producing and a metal recycling company. The company has a market cap of $5.76 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 607.7 P/E ratio.

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