Commonwealth Equity Services LLC bought a new position in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,939 shares of the basic materials company’s stock, valued at approximately $234,000.
Other large investors have also made changes to their positions in the company. Northern Trust Corp grew its position in shares of Schnitzer Steel Industries by 1.7% during the first quarter. Northern Trust Corp now owns 504,409 shares of the basic materials company’s stock worth $16,318,000 after purchasing an additional 8,616 shares in the last quarter. Matarin Capital Management LLC bought a new stake in shares of Schnitzer Steel Industries in the 1st quarter valued at approximately $14,655,000. Stifel Financial Corp lifted its stake in shares of Schnitzer Steel Industries by 5.3% in the 1st quarter. Stifel Financial Corp now owns 414,333 shares of the basic materials company’s stock valued at $13,420,000 after purchasing an additional 20,740 shares during the last quarter. Prudential Financial Inc. lifted its stake in shares of Schnitzer Steel Industries by 42.3% in the 1st quarter. Prudential Financial Inc. now owns 389,904 shares of the basic materials company’s stock valued at $12,613,000 after purchasing an additional 115,960 shares during the last quarter. Finally, Chicago Equity Partners LLC lifted its stake in shares of Schnitzer Steel Industries by 61.9% in the 1st quarter. Chicago Equity Partners LLC now owns 281,020 shares of the basic materials company’s stock valued at $9,091,000 after purchasing an additional 107,395 shares during the last quarter. 89.74% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently issued reports on the company. ValuEngine lowered Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research note on Saturday, May 26th. BidaskClub raised Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research note on Saturday, June 16th. Zacks Investment Research raised Schnitzer Steel Industries from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Saturday, June 16th. Finally, Morgan Stanley lifted their target price on Schnitzer Steel Industries from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Friday, July 6th. Four research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $35.00.
SCHN stock traded up $0.05 on Friday, hitting $26.65. 249,426 shares of the company’s stock were exchanged, compared to its average volume of 387,785. Schnitzer Steel Industries, Inc. has a 12-month low of $25.00 and a 12-month high of $38.85. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.20 and a quick ratio of 1.12. The company has a market cap of $728.97 million, a price-to-earnings ratio of 7.91 and a beta of 1.29.
Schnitzer Steel Industries (NASDAQ:SCHN) last announced its earnings results on Tuesday, June 26th. The basic materials company reported $1.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.08. Schnitzer Steel Industries had a return on equity of 17.21% and a net margin of 5.25%. The firm had revenue of $652.00 million for the quarter, compared to the consensus estimate of $651.09 million. During the same period in the previous year, the business earned $0.56 EPS. The firm’s revenue for the quarter was up 36.7% on a year-over-year basis. equities research analysts anticipate that Schnitzer Steel Industries, Inc. will post 3.74 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, August 27th. Shareholders of record on Monday, August 13th were given a dividend of $0.1875 per share. The ex-dividend date was Friday, August 10th. This represents a $0.75 dividend on an annualized basis and a yield of 2.81%. Schnitzer Steel Industries’s dividend payout ratio is currently 49.02%.
About Schnitzer Steel Industries
Schnitzer Steel Industries, Inc recycles ferrous and nonferrous scrap metals; and manufactures finished steel products worldwide. It operates through two segments, Auto and Metals Recycling (AMR); and Cascade Steel and Scrap (CSS). The AMR segment buys, collects, processes, recycles, sells, and brokers scrap metals, as well as processes mixed and large pieces of scrap metal into smaller pieces by crushing, torching, shearing, shredding, and sorting.
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