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

 What's Steel Dynamics, Inc. Upside 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 1.09M 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 $170.17M for 8.52 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 9.67% above today’s ($24.2) stock price. Steel Dynamics Inc. has been the topic of 31 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The company was maintained on Wednesday, March 23 by Credit Suisse. The stock has “Outperform” rating given by Cowen & Co on Wednesday, October 21. The firm has “Buy” rating given on Monday, August 22 by Citigroup. On Tuesday, March 8 the stock rating was upgraded by Berenberg to “Buy”. The stock has “Neutral” rating given by Rosenblatt on Tuesday, May 10. The stock of Steel Dynamics, Inc. (NASDAQ:STLD) earned “Outperform” rating by Credit Suisse on Wednesday, June 8. The firm earned “Overweight” rating on Wednesday, July 13 by Barclays Capital. As per Tuesday, April 19, the company rating was maintained by Barclays Capital. As per Wednesday, March 9, the company rating was maintained by Nomura. The company was initiated on Wednesday, October 14 by Berenberg.

Insitutional Activity: The institutional sentiment decreased to 1.39 in 2016 Q2. Its down 0.08, from 1.47 in 2016Q1. The ratio turned 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.
State Street Corp holds 7.60 million shares or 0.02% of its portfolio. Bluemountain Capital Mngmt Lc reported 83,318 shares or 0.05% of all its holdings. Anchor Bolt Cap L P holds 1.88% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD) for 2.20 million shares. Wells Fargo & Co Mn owns 3.19 million shares or 0.03% of their US portfolio. Pacad Inv Ltd accumulated 0.43% or 126,000 shares. Great West Life Assurance Company Can accumulated 28,827 shares or 0% of the stock. Ladenburg Thalmann Financial Services last reported 27,981 shares in the company. Walleye Trading has 38,072 shares for 0.01% of their US portfolio. Moreover, Savings Bank Of New York Mellon has 0.02% invested in Steel Dynamics, Inc. (NASDAQ:STLD) for 3.17 million shares. Scopus Asset Mgmt L P accumulated 0.33% or 1.00M shares. Banced last reported 10,729 shares in the company. Guggenheim Cap Limited Liability Company holds 0.01% or 191,538 shares in its portfolio. Ent Fincl Corp holds 569 shares or 0.01% of its portfolio. Retirement Sys Of Alabama holds 0.15% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD) for 1.08 million shares. Louisiana State Employees Retirement, a Louisiana-based fund reported 64,800 shares.

Insider Transactions: Since July 25, 2016, the stock had 0 buys, and 2 selling transactions for $842,010 net activity. 13,155 shares with value of $355,185 were sold 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 $5.80 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 611.11 P/E ratio.

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