What’s in Steel Dynamics, Inc. After Today’s Bearish Options Activity?


 What's in Steel Dynamics, Inc. 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 2.44M 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 $170.08M for 8.42 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 10.95% above today’s ($23.92) stock price. Steel Dynamics Inc. has been the topic of 31 analyst reports since July 22, 2015 according to StockzIntelligence Inc. As per Tuesday, November 24, the company rating was initiated by BB&T Capital. On Monday, December 14 the stock rating was upgraded by Nomura to “Buy”. The company was maintained on Tuesday, April 19 by Barclays Capital. The stock of Steel Dynamics, Inc. (NASDAQ:STLD) has “Buy” rating given on Wednesday, October 14 by Berenberg. Credit Suisse maintained the stock with “Outperform” rating in Wednesday, March 23 report. The stock of Steel Dynamics, Inc. (NASDAQ:STLD) earned “Buy” rating by Rosenblatt on Wednesday, January 6. On Wednesday, March 23 the stock rating was maintained by KeyBanc Capital Markets with “Overweight”. On Wednesday, July 20 the stock rating was downgraded by Bank of America to “Neutral”. The stock of Steel Dynamics, Inc. (NASDAQ:STLD) has “Buy” rating given on Monday, August 22 by Citigroup. Barclays Capital maintained it with “Overweight” rating and $24 target price in Monday, October 5 report.

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.
Clinton accumulated 0.53% or 491,461 shares. Credit Suisse Ag reported 971,147 shares or 0.03% of all its holdings. Fifth Third Comml Bank last reported 3,536 shares in the company. Springbok Cap Mgmt Limited Liability holds 0.02% or 7,008 shares in its portfolio. Virginia Retirement Et Al has 0.03% invested in the company for 73,200 shares. The Virginia-based Thompson Davis And has invested 0% in Steel Dynamics, Inc. (NASDAQ:STLD). The Illinois-based Ubs Asset Mgmt Americas has invested 0.01% in Steel Dynamics, Inc. (NASDAQ:STLD). Moreover, Retirement Of Alabama has 0.15% invested in Steel Dynamics, Inc. (NASDAQ:STLD) for 1.08 million shares. Prudential Finance Inc, a New Jersey-based fund reported 3.47 million shares. Nikko Asset Management Americas accumulated 354,700 shares or 0.8% of the stock. Pinnacle Associates Limited last reported 84,400 shares in the company. Strategic Glob Advsr Limited Liability Corp has 31,619 shares for 0.29% of their US portfolio. Moreover, Scout Invs Inc has 0.47% invested in Steel Dynamics, Inc. (NASDAQ:STLD) for 682,971 shares. Acadian Asset Management Ltd Liability owns 124,129 shares or 0.02% of their US portfolio. Seven Eight Cap Limited Liability Corp accumulated 44,565 shares or 0.38% of the stock.

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

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 604.04 P/E ratio.

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