Steel Dynamics Sees Unusually Large Options Volume (STLD)

Steel Dynamics, Inc. (NASDAQ:STLD) was the target of unusually large options trading on Thursday. Stock traders bought 21,218 call options on the company. This represents an increase of 1,222% compared to the typical daily volume of 1,605 call options.

A number of research firms recently commented on STLD. Credit Suisse Group increased their price target on Steel Dynamics from $43.00 to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. BidaskClub lowered Steel Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 23rd. Jefferies Group restated a “buy” rating on shares of Steel Dynamics in a research report on Wednesday, January 24th. Cowen restated an “outperform” rating and set a $60.00 price target (up from $53.00) on shares of Steel Dynamics in a research report on Wednesday, January 24th. Finally, BMO Capital Markets increased their price target on Steel Dynamics to $55.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Steel Dynamics presently has a consensus rating of “Buy” and a consensus price target of $46.64.

Steel Dynamics (STLD) opened at $47.47 on Friday. The company has a market capitalization of $11,250.00, a price-to-earnings ratio of 11.49, a price-to-earnings-growth ratio of 1.00 and a beta of 1.34. The company has a debt-to-equity ratio of 0.74, a current ratio of 4.04 and a quick ratio of 2.29. Steel Dynamics has a 12-month low of $32.15 and a 12-month high of $50.70.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Saturday, March 31st will be given a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 1.58%. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.16. The ex-dividend date is Wednesday, March 28th. Steel Dynamics’s dividend payout ratio (DPR) is presently 15.01%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Toronto Dominion Bank bought a new position in Steel Dynamics in the 2nd quarter valued at $107,000. Cerebellum GP LLC bought a new position in Steel Dynamics in the 4th quarter valued at $132,000. Steward Partners Investment Advisory LLC bought a new position in Steel Dynamics in the 3rd quarter valued at $112,000. Amica Retiree Medical Trust bought a new position in shares of Steel Dynamics in the 4th quarter worth $143,000. Finally, CoreCommodity Management LLC bought a new position in shares of Steel Dynamics in the 4th quarter worth $146,000. Hedge funds and other institutional investors own 82.99% 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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