It Seems Steel Dynamics, Inc. Will Go Down. Had Bearish Options Activity


 It Seems Steel Dynamics, Inc. Will Go Down. Had Bearish Options Activity

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 536,730 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 $170.06 million for 8.57 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 9.04% above today’s ($24.34) stock price. Steel Dynamics Inc. has been the topic of 31 analyst reports since July 22, 2015 according to StockzIntelligence Inc. Berenberg upgraded Steel Dynamics, Inc. (NASDAQ:STLD) on Tuesday, March 8 to “Buy” rating. Deutsche Bank maintained Steel Dynamics, Inc. (NASDAQ:STLD) on Thursday, August 13 with “Buy” rating. Rosenblatt initiated it with “Buy” rating and $21 target price in Wednesday, January 6 report. KeyBanc Capital Markets maintained it with “Overweight” rating and $25 target price in Wednesday, March 23 report. BB&T Capital initiated the stock with “Buy” rating in Tuesday, November 24 report. As per Tuesday, September 1, the company rating was upgraded by TheStreet. As per Friday, August 19, the company rating was downgraded by KeyBanc Capital Markets. The company was maintained on Wednesday, July 13 by Barclays Capital. The stock of Steel Dynamics, Inc. (NASDAQ:STLD) has “Buy” rating given on Monday, August 22 by Citigroup. The company was maintained on Wednesday, June 8 by Credit Suisse.

Insitutional Activity: The institutional sentiment decreased to 1.39 in Q2 2016. Its down 0.08, from 1.47 in 2016Q1. The ratio is negative, 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.
The New York-based Springbok Cap Mgmt Ltd Llc has invested 0.02% in Steel Dynamics, Inc. (NASDAQ:STLD). Bokf Na has 0.1% invested in the company for 119,817 shares. The Virginia-based Catawba Management Va has invested 0.11% in Steel Dynamics, Inc. (NASDAQ:STLD). Gideon Advsrs has invested 0.18% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD). Comerica Securities Incorporated has 0.24% invested in the company for 14,684 shares. Employees Retirement Of Texas accumulated 84,600 shares or 0.03% of the stock. Blackrock Investment Mgmt Ltd Company holds 0.02% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD) for 787,585 shares. General Electr last reported 71,882 shares in the company. Gemmer Asset Mngmt Ltd has invested 0.01% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD). The New Jersey-based Private Advisor Gru Lc has invested 0.02% in Steel Dynamics, Inc. (NASDAQ:STLD). Monarch Management has invested 0.99% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD). The Colorado-based Employees Retirement Association Of Colorado has invested 0.01% in Steel Dynamics, Inc. (NASDAQ:STLD). Bnp Paribas Investment Prns reported 164,319 shares or 0.03% of all its holdings. Sei Invests Company, a Pennsylvania-based fund reported 144,860 shares. Ellington Management Grp Inc Limited Co owns 26,700 shares or 0.91% of their US portfolio.

Insider Transactions: Since July 25, 2016, the stock had 0 buys, and 2 insider sales for $842,010 net activity. Another trade for 13,155 shares valued at $355,185 was made by BUSSE KEITH E on Friday, July 29. KOLB JURGEN DR had sold 17,900 shares worth $486,825 on Monday, July 25.

Steel Dynamics, Inc. is a steel producing and a metal recycling company. The company has a market cap of $5.83 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 614.77 P/E ratio.

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