Short Interest of The Day: Is Steel Dynamics Incorporated (NASDAQ:STLD)’s Fuel Running High? Reports Show Less Sellers

November 16, 2016 - By Marie Mckinney   ·   0 Comments

Short Interest of The Day: Is Steel Dynamics Incorporated (NASDAQ:STLD)’s Fuel Running High? Reports Show Less Sellers

The stock of Steel Dynamics Incorporated (NASDAQ:STLD) registered a decrease of 1.75% in short interest. STLD’s total short interest was 10.76M shares in November as published by FINRA. Its down 1.75% from 10.95 million shares, reported previously. With 3.00M shares average volume, it will take short sellers 4 days to cover their STLD’s short positions. The short interest to Steel Dynamics Incorporated’s float is 4.6%. About 1.19 million shares traded hands. Steel Dynamics, Inc. (NASDAQ:STLD) has risen 40.42% since April 14, 2016 and is uptrending. It has outperformed by 35.73% the S&P500.

Steel Dynamics, Inc. is a steel producing and a metal recycling company. The company has a market cap of $8.15 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 75.19 P/E ratio.

Insitutional Activity: The institutional sentiment decreased to 1.39 in Q2 2016. Its down 0.08, from 1.47 in 2016Q1. The ratio turned 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.
Panagora Asset Mgmt accumulated 0.2% or 1.68M shares. Moreover, Affinity Invest Ltd Llc has 0.4% invested in Steel Dynamics, Inc. (NASDAQ:STLD) for 221,464 shares. Ubs Oconnor Limited Liability Company owns 595,851 shares or 0% of their US portfolio. Teachers Advsrs Inc last reported 1.09M shares in the company. Strs Ohio has 500,000 shares for 0.05% of their US portfolio. Whitnell & Comm holds 0% or 494 shares in its portfolio. Engineers Gate Manager L P reported 227,970 shares or 0.4% of all its holdings. Comerica Financial Bank holds 171,908 shares or 0.04% of its portfolio. Timber Hill Ltd Company last reported 28,015 shares in the company. Alliancebernstein Lp has 213,260 shares for 0% of their US portfolio. Iowa Bancorporation holds 0% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD) for 400 shares. Moreover, Cadence Capital Mgmt has 0.09% invested in Steel Dynamics, Inc. (NASDAQ:STLD) for 48,392 shares. Clinton Group holds 0.53% or 491,461 shares in its portfolio. American International Grp Incorporated has 0% invested in the company for 471,286 shares. Huntington Comml Bank last reported 0% of its portfolio in the stock.

Insider Transactions: Since July 25, 2016, the stock had 0 buys, and 3 selling transactions for $896,670 net activity. BUSSE KEITH E had sold 2,000 shares worth $54,660 on Tuesday, November 1. On Monday, July 25 KOLB JURGEN DR sold $486,825 worth of the stock or 17,900 shares.

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. Steel Dynamics Inc. has been the topic of 35 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The firm earned “Overweight” rating on Monday, October 5 by Barclays Capital. Nomura maintained the shares of STLD in a report on Wednesday, March 9 with “Buy” rating. The firm earned “Sector Weight” rating on Friday, August 19 by KeyBanc Capital Markets. On Tuesday, April 19 the stock rating was maintained by Barclays Capital with “Overweight”. On Wednesday, July 13 the stock rating was maintained by Barclays Capital with “Overweight”. The rating was downgraded by Bank of America to “Neutral” on Wednesday, July 20. Nomura upgraded the shares of STLD in a report on Monday, December 14 to “Buy” rating. Citigroup initiated Steel Dynamics, Inc. (NASDAQ:STLD) on Monday, August 22 with “Buy” rating. As per Wednesday, October 21, the company rating was maintained by Cowen & Co. The firm has “Outperform” rating by Credit Suisse given on Wednesday, June 8.

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 Wsj.com which published an article titled: “Steel Dynamics Profit Surges on Market Rebound” on October 19, 2016.

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By Marie Mckinney


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