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 1.23M 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 $170.12M for 8.55 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 9.26% above today’s ($24.29) stock price. Steel Dynamics Inc. has been the topic of 31 analyst reports since July 22, 2015 according to StockzIntelligence Inc. As per Monday, August 22, the company rating was initiated by Citigroup. The firm earned “Buy” rating on Wednesday, March 9 by Nomura. On Tuesday, May 10 the stock rating was maintained by Rosenblatt with “Neutral”. The firm earned “Buy” rating on Wednesday, January 13 by Jefferies. The stock has “Buy” rating given by Citigroup on Wednesday, October 21. The stock has “Outperform” rating given by Cowen & Co on Wednesday, October 21. The stock of Steel Dynamics, Inc. (NASDAQ:STLD) earned “Hold” rating by TheStreet on Tuesday, September 1. Credit Suisse maintained the stock with “Outperform” rating in Wednesday, June 8 report. The company was maintained on Wednesday, July 20 by Cowen & Co. Barclays Capital maintained Steel Dynamics, Inc. (NASDAQ:STLD) rating on Tuesday, April 19. Barclays Capital has “Overweight” rating and $27 price target.
Insitutional Activity: The institutional sentiment decreased to 1.39 in 2016 Q2. 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.
Parametric Port Associate Ltd Liability Co reported 340,359 shares or 0.01% of all its holdings. Moreover, Teacher Retirement Sys Of Texas has 0.07% invested in Steel Dynamics, Inc. (NASDAQ:STLD) for 411,638 shares. Geode Limited Liability Company holds 0.03% or 1.98 million shares in its portfolio. Amalgamated Bank, a New York-based fund reported 33,370 shares. North Point Portfolio Managers Corporation Oh holds 0.04% or 8,300 shares in its portfolio. Tudor Inv Corporation Et Al, a Connecticut-based fund reported 54,351 shares. Moreover, Sei Investments has 0.02% invested in Steel Dynamics, Inc. (NASDAQ:STLD) for 144,860 shares. Keybank National Association Oh last reported 28,034 shares in the company. The New York-based Kings Point Capital has invested 0% in Steel Dynamics, Inc. (NASDAQ:STLD). Strategic Advsr, a California-based fund reported 31,619 shares. Hartford Invest Mngmt has 0.01% invested in the company for 10,280 shares. Kanaly Tru Co holds 357 shares or 0% of its portfolio. Arizona State Retirement Sys reported 95,130 shares or 0.03% of all its holdings. Counsel Services has 51,928 shares for 0.13% of their US portfolio. Moreover, Blackrock Institutional Tru Na has 0.03% invested in Steel Dynamics, Inc. (NASDAQ:STLD) for 8.27M shares.
Insider Transactions: Since July 25, 2016, the stock had 0 insider buys, and 2 insider sales for $842,010 net activity. KOLB JURGEN DR had sold 17,900 shares worth $486,825. $355,185 worth of Steel Dynamics, Inc. (NASDAQ:STLD) shares were sold by BUSSE KEITH E.
Steel Dynamics, Inc. is a steel producing and a metal recycling company. The company has a market cap of $5.82 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 613.38 P/E ratio.
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