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 814,980 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 $169.88M for 8.54 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 9.49% above today’s ($24.24) stock price. Steel Dynamics Inc. has been the topic of 31 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The stock of Steel Dynamics, Inc. (NASDAQ:STLD) has “Sector Weight” rating given on Friday, August 19 by KeyBanc Capital Markets. The stock has “Neutral” rating given by Rosenblatt on Tuesday, May 10. The stock has “Neutral” rating given by Bank of America on Wednesday, July 20. Nomura maintained Steel Dynamics, Inc. (NASDAQ:STLD) rating on Wednesday, March 9. Nomura has “Buy” rating and $24 price target. The rating was upgraded by Nomura on Monday, December 14 to “Buy”. The firm has “Buy” rating given on Wednesday, January 13 by Jefferies. The company was downgraded on Monday, March 14 by Rosenblatt. The stock of Steel Dynamics, Inc. (NASDAQ:STLD) earned “Buy” rating by Citigroup on Monday, August 22. The rating was maintained by Cowen & Co on Wednesday, July 20 with “Outperform”. Deutsche Bank maintained the stock with “Buy” rating in Thursday, August 13 report.

Insitutional Activity: The institutional sentiment decreased to 1.39 in Q2 2016. 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.
The Michigan-based Bluestein R H And has invested 0.03% in Steel Dynamics, Inc. (NASDAQ:STLD). Emerald Mutual Fund Advisers Trust has invested 0.02% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD). Qcm Cayman Ltd, a Texas-based fund reported 29,432 shares. Piermont Capital Management last reported 0.1% of its portfolio in the stock. Boston Private Wealth Limited Liability Company last reported 0.04% of its portfolio in the stock. Moreover, Babson Cap Mgmt Limited Co has 0.05% invested in Steel Dynamics, Inc. (NASDAQ:STLD) for 75,200 shares. Archford Strategies Limited Liability Corp accumulated 27 shares or 0% of the stock. Parametric Port Limited Liability Company owns 340,359 shares or 0.01% of their US portfolio. Dupont Mngmt Corporation has 0.07% invested in the company for 121,760 shares. Wealth Enhancement Advisory Ltd Com holds 0.28% or 64,239 shares in its portfolio. Neuberger Berman Gru Ltd reported 25,076 shares or 0% of all its holdings. Friess Ltd Liability reported 350,000 shares or 0.88% of all its holdings. Parkside National Bank And Trust holds 0.01% or 1,140 shares in its portfolio. Voloridge Invest Management Limited Liability has 152,422 shares for 0.11% of their US portfolio. Gateway Advisers Limited Liability Co last reported 0.11% of its portfolio in the stock.

Insider Transactions: Since July 25, 2016, the stock had 0 insider purchases, and 2 sales for $842,010 net activity. BUSSE KEITH E also sold $355,185 worth of Steel Dynamics, Inc. (NASDAQ:STLD) shares. $486,825 worth of Steel Dynamics, Inc. (NASDAQ:STLD) was sold by KOLB JURGEN DR 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 612.12 P/E ratio.

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