Steel Dynamics, Inc.’s Stock Is Sell After Today’s Bearish Options Activity


 Steel Dynamics, Inc.'s Stock Is Sell After Today's 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 1.76M 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. The firm has “Buy” rating given on Thursday, September 17 by Jefferies. The firm earned “Neutral” rating on Tuesday, May 10 by Rosenblatt. The rating was maintained by Deutsche Bank with “Buy” on Thursday, August 13. The firm has “Buy” rating given on Monday, December 14 by Nomura. Rosenblatt initiated Steel Dynamics, Inc. (NASDAQ:STLD) rating on Wednesday, January 6. Rosenblatt has “Buy” rating and $21 price target. The rating was maintained by Citigroup on Wednesday, October 21 with “Buy”. The rating was maintained by Nomura on Wednesday, March 9 with “Buy”. The stock of Steel Dynamics, Inc. (NASDAQ:STLD) earned “Overweight” rating by KeyBanc Capital Markets on Wednesday, March 23. The firm has “Outperform” rating by Credit Suisse given on Wednesday, March 23. BB&T Capital initiated it with “Buy” rating and $24 target price in Tuesday, November 24 report.

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.
Alliancebernstein Limited Partnership accumulated 213,260 shares or 0% of the stock. Johnson Group last reported 3,242 shares in the company. D E Shaw owns 831,306 shares or 0.04% of their US portfolio. Commonwealth National Bank Of has 0.01% invested in the company for 22,195 shares. Counsel Portfolio Service Inc reported 51,928 shares or 0.13% of all its holdings. Moreover, First Mercantile Tru has 0.01% invested in Steel Dynamics, Inc. (NASDAQ:STLD) for 3,701 shares. State Of Tennessee Treasury Department has 104,500 shares for 0.01% of their US portfolio. The Missouri-based Benjamin F Edwards & has invested 0.01% in Steel Dynamics, Inc. (NASDAQ:STLD). Hanseatic Ser Inc last reported 0.27% of its portfolio in the stock. Eam Investors Lc, a California-based fund reported 80,393 shares. Sg Americas Securities Ltd Co has 88,334 shares for 0.02% of their US portfolio. Summit Secs Gru has 0.28% invested in the company for 21,280 shares. Weaver C Barksdale And Assoc Inc has 1,262 shares for 0.05% of their US portfolio. Eagle Asset Inc has 318,197 shares for 0.05% of their US portfolio. Moreover, Gemmer Asset Mngmt Ltd Liability has 0.01% invested in Steel Dynamics, Inc. (NASDAQ:STLD) for 503 shares.

Insider Transactions: Since July 25, 2016, the stock had 0 buys, and 2 sales for $842,010 net activity. BUSSE KEITH E sold $355,185 worth of Steel Dynamics, Inc. (NASDAQ:STLD) 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 $5.73 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 604.55 P/E ratio.

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