Stock Traders Purchase Large Volume of Steel Dynamics Put Options (NASDAQ:STLD)

Steel Dynamics, Inc. (NASDAQ:STLD) was the target of unusually large options trading on Monday. Stock investors acquired 1,747 put options on the company. This represents an increase of 2,588% compared to the average daily volume of 65 put options.

In other Steel Dynamics news, SVP Miguel Alvarez bought 8,920 shares of the stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $27.72 per share, for a total transaction of $247,262.40. Following the completion of the acquisition, the senior vice president now owns 700 shares in the company, valued at approximately $19,404. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.90% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Candriam Luxembourg S.C.A. increased its holdings in shares of Steel Dynamics by 2.5% during the second quarter. Candriam Luxembourg S.C.A. now owns 27,559 shares of the basic materials company’s stock valued at $829,000 after acquiring an additional 674 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in shares of Steel Dynamics by 120.9% during the second quarter. Nuveen Asset Management LLC now owns 1,889,404 shares of the basic materials company’s stock valued at $57,060,000 after acquiring an additional 1,034,176 shares in the last quarter. Zacks Investment Management bought a new stake in shares of Steel Dynamics during the second quarter valued at approximately $20,062,000. Teacher Retirement System of Texas increased its holdings in shares of Steel Dynamics by 10.5% during the second quarter. Teacher Retirement System of Texas now owns 1,176,648 shares of the basic materials company’s stock valued at $35,535,000 after acquiring an additional 111,765 shares in the last quarter. Finally, Bowling Portfolio Management LLC increased its holdings in shares of Steel Dynamics by 66.4% during the second quarter. Bowling Portfolio Management LLC now owns 131,953 shares of the basic materials company’s stock valued at $3,985,000 after acquiring an additional 52,640 shares in the last quarter. Hedge funds and other institutional investors own 81.41% of the company’s stock.

STLD has been the subject of a number of research analyst reports. Macquarie set a $31.00 target price on Steel Dynamics and gave the stock a “hold” rating in a report on Wednesday, September 18th. BidaskClub downgraded Steel Dynamics from a “hold” rating to a “sell” rating in a report on Saturday. ValuEngine upgraded Steel Dynamics from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Zacks Investment Research upgraded Steel Dynamics from a “strong sell” rating to a “hold” rating and set a $25.00 target price for the company in a report on Wednesday, October 23rd. Finally, BNP Paribas initiated coverage on Steel Dynamics in a report on Thursday, November 14th. They issued an “outperform” rating and a $40.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $33.17.

NASDAQ STLD opened at $31.89 on Tuesday. The company has a market cap of $6.86 billion, a price-to-earnings ratio of 5.81, a P/E/G ratio of 0.87 and a beta of 1.66. Steel Dynamics has a 52 week low of $25.02 and a 52 week high of $39.93. The business has a 50 day moving average price of $30.21 and a 200-day moving average price of $29.46. The company has a quick ratio of 2.24, a current ratio of 4.00 and a debt-to-equity ratio of 0.60.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $0.69 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by ($0.01). The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.62 billion. Steel Dynamics had a net margin of 7.44% and a return on equity of 22.08%. During the same quarter in the prior year, the firm earned $1.69 EPS. On average, equities research analysts anticipate that Steel Dynamics will post 3.03 earnings per share for the current year.

About Steel Dynamics

Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.

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