Traders Buy High Volume of Steel Dynamics Put Options (STLD)

Steel Dynamics, Inc. (NASDAQ:STLD) saw unusually large options trading on Tuesday. Investors bought 8,351 put options on the company. This represents an increase of approximately 1,058% compared to the average daily volume of 721 put options.

Shares of Steel Dynamics (STLD) opened at 33.18 on Friday. The company’s 50-day moving average price is $34.81 and its 200-day moving average price is $35.53. Steel Dynamics has a 12-month low of $22.79 and a 12-month high of $40.17. The firm has a market capitalization of $8.02 billion, a PE ratio of 15.67 and a beta of 1.29.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Wednesday, April 19th. The basic materials company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.03. Steel Dynamics had a return on equity of 21.77% and a net margin of 6.19%. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the prior year, the company earned $0.26 earnings per share. The company’s quarterly revenue was up 36.0% on a year-over-year basis. Analysts anticipate that Steel Dynamics will post $3.01 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 7th. Shareholders of record on Friday, June 30th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Wednesday, June 28th. Steel Dynamics’s payout ratio is presently 29.25%.

A number of analysts have commented on the company. BidaskClub downgraded Steel Dynamics from a “hold” rating to a “sell” rating in a research report on Saturday. Zacks Investment Research downgraded Steel Dynamics from a “buy” rating to a “hold” rating in a research report on Thursday, May 25th. Cowen and Company raised their price objective on Steel Dynamics from $41.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, April 24th. BMO Capital Markets reiterated a “buy” rating and issued a $48.00 price objective on shares of Steel Dynamics in a research report on Monday, April 24th. Finally, Barclays PLC reiterated a “buy” rating and issued a $43.00 price objective on shares of Steel Dynamics in a research report on Monday, May 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $37.91.

A number of large investors have recently added to or reduced their stakes in the company. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its stake in Steel Dynamics by 3,458.0% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 99,624 shares of the basic materials company’s stock valued at $100,000 after buying an additional 96,824 shares during the last quarter. Advantage Investment Management LLC boosted its stake in Steel Dynamics by 39.6% in the first quarter. Advantage Investment Management LLC now owns 3,350 shares of the basic materials company’s stock valued at $116,000 after buying an additional 950 shares during the last quarter. Seven Eight Capital LP acquired a new stake in Steel Dynamics during the fourth quarter valued at $141,000. James Investment Research Inc. acquired a new stake in Steel Dynamics during the first quarter valued at $145,000. Finally, Ancora Advisors LLC acquired a new stake in Steel Dynamics during the fourth quarter valued at $146,000. Hedge funds and other institutional investors own 83.58% of the company’s stock.

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Steel Dynamics Company Profile

Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.

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