Time to Buy Steel Dynamics, Inc. After Today’s Option Traders Bet?

 Time to Buy Steel Dynamics, Inc. After Today's Option Traders Bet?

In today’s session Steel Dynamics, Inc. (STLD) registered an unusually high (2,195) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2017 call, expecting serious STLD increase. With 2,195 contracts traded and 53894 open interest for the Jan, 17 contract, it seems this is a quite bullish bet. The option with symbol: STLD170120C00028000 closed last at: $4 or 128.6% up. About 958,586 shares traded hands. Steel Dynamics, Inc. (NASDAQ:STLD) has risen 40.77% since April 11, 2016 and is uptrending. It has outperformed by 34.63% the S&P500.

Steel Dynamics, Inc. (NASDAQ:STLD) Ratings Coverage

Out of 12 analysts covering Steel Dynamics Inc. (NASDAQ:STLD), 10 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 83% are positive. $33 is the highest target while $21 is the lowest. The $26.38 average target is -16.04% below today’s ($31.42) stock price. Steel Dynamics Inc. has been the topic of 33 analyst reports since July 22, 2015 according to StockzIntelligence Inc. Berenberg initiated the stock with “Buy” rating in Wednesday, October 14 report. Credit Suisse maintained Steel Dynamics, Inc. (NASDAQ:STLD) rating on Wednesday, March 23. Credit Suisse has “Outperform” rating and $27 price target. The firm earned “Overweight” rating on Tuesday, January 12 by Barclays Capital. KeyBanc Capital Markets maintained the shares of STLD in a report on Wednesday, March 23 with “Overweight” rating. The stock of Steel Dynamics, Inc. (NASDAQ:STLD) has “Buy” rating given on Wednesday, October 26 by Bank of America. As per Monday, December 14, the company rating was upgraded by Nomura. The firm has “Buy” rating given on Tuesday, November 24 by BB&T Capital. Credit Suisse maintained Steel Dynamics, Inc. (NASDAQ:STLD) rating on Wednesday, June 8. Credit Suisse has “Outperform” rating and $33 price target. Citigroup initiated the shares of STLD in a report on Monday, August 22 with “Buy” rating. As per Wednesday, July 13, the company rating was maintained by Barclays Capital.

According to Zacks Investment Research, “Steel Dynamics, Inc. owns and operates a flat-rolled steel mini-mill. Steel Dynamics operates in the production and sale of hot-rolled and cold-rolled steel coils. The company’s customers consist of intermediate steel processors, steel service centers and end users including manufacturers of cold-rolled strip, oil and gas transmission pipe, and mechanical and structural tubing.”

Insitutional Activity: The institutional sentiment decreased to 1.39 in 2016 Q2. Its down 0.08, from 1.47 in 2016Q1. The ratio is 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.
Pinnacle Assoc Limited accumulated 84,400 shares or 0.04% of the stock. Zurcher Kantonalbank (Zurich Cantonalbank) reported 7,025 shares or 0% of all its holdings. Capital Research Glob Investors last reported 0% of its portfolio in the stock. North Point Managers Corporation Oh holds 0.04% or 8,300 shares in its portfolio. Capstone Inv Advsr Ltd Com holds 0% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD) for 9,300 shares. Hwg Holdg Lp, a Texas-based fund reported 127,653 shares. Blackrock Invest Mngmt Lc has 787,585 shares for 0.02% of their US portfolio. The Colorado-based Advisors Asset has invested 0.03% in Steel Dynamics, Inc. (NASDAQ:STLD). Timber Hill Ltd Llc has 0% invested in the company for 28,015 shares. Sentinel Lba holds 0.47% or 135,918 shares in its portfolio. Princeton Alpha Management Lp last reported 0.2% of its portfolio in the stock. The Massachusetts-based Acadian Asset Mgmt Ltd has invested 0.02% in Steel Dynamics, Inc. (NASDAQ:STLD). American Century Cos Incorporated has 747,153 shares for 0.02% of their US portfolio. Strategic Advsrs Ltd Limited Liability Company has 0.29% invested in the company for 31,619 shares. Fuller & Thaler Asset Management Inc last reported 0% of its portfolio in the stock.

Insider Transactions: Since July 25, 2016, the stock had 0 insider buys, and 3 sales for $896,670 net activity. On Tuesday, November 1 the insider BUSSE KEITH E sold $54,660. Shares for $486,825 were sold by KOLB JURGEN DR.

Steel Dynamics, Inc. is a steel producing and a metal recycling company. The company has a market cap of $7.90 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 71.11 P/E ratio.

STLD Company Profile

Steel Dynamics, Inc., incorporated on June 16, 1994, is a steel producing and a metal recycling company. 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. The Company’s divisions include steel operations, metals recycling operations, steel fabrication activities and Other Operations. The Firm offers a range of steel products, which include sheet products, such as hot roll, cold roll and coated steel, including light gauge hot roll, galvanized and painted products; long products, such as structural steel beams, pilings, and various merchant-bar products, including rounds, angles, flats, channels and reinforcing bar, and steel fabrication products, including steel joists and steel deck material, including specialty deck. It offers an array of both ferrous and nonferrous scrap processing, scrap management, transportation, and brokerage services and products. The Firm also offers steel finishing and fabrication services.

Another recent and important Steel Dynamics, Inc. (NASDAQ:STLD) news was published by Prnewswire.com which published an article titled: “Steel Dynamics Announces Share Repurchase Program” on October 18, 2016.

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