Strs Ohio raised its stake in shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) by 21.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,300 shares of the basic materials company’s stock after buying an additional 6,100 shares during the period. Strs Ohio owned 0.12% of Schnitzer Steel Industries worth $708,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in SCHN. O Shaughnessy Asset Management LLC purchased a new position in shares of Schnitzer Steel Industries during the fourth quarter worth $141,000. USA Financial Portformulas Corp acquired a new stake in shares of Schnitzer Steel Industries during the fourth quarter worth $225,000. Federated Investors Inc. PA raised its stake in Schnitzer Steel Industries by 890.9% in the fourth quarter. Federated Investors Inc. PA now owns 13,605 shares of the basic materials company’s stock valued at $350,000 after buying an additional 12,232 shares in the last quarter. Guggenheim Capital LLC purchased a new stake in Schnitzer Steel Industries during the fourth quarter valued at $369,000. Finally, Nuveen Fund Advisors LLC raised its stake in Schnitzer Steel Industries by 21.7% in the third quarter. Nuveen Fund Advisors LLC now owns 14,704 shares of the basic materials company’s stock valued at $307,000 after buying an additional 2,626 shares in the last quarter. 85.56% of the stock is currently owned by hedge funds and other institutional investors.
Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) traded up 1.82% during mid-day trading on Monday, reaching $19.60. The company’s stock had a trading volume of 622,362 shares. Schnitzer Steel Industries, Inc. has a one year low of $14.83 and a one year high of $30.60. The stock has a 50-day moving average price of $19.43 and a 200-day moving average price of $22.64. The company has a market capitalization of $539.47 million, a price-to-earnings ratio of 14.69 and a beta of 1.39.
Schnitzer Steel Industries (NASDAQ:SCHN) last issued its earnings results on Thursday, April 6th. The basic materials company reported $0.37 EPS for the quarter, hitting analysts’ consensus estimates of $0.37. The firm had revenue of $382 million during the quarter. Schnitzer Steel Industries had a net margin of 2.53% and a return on equity of 7.88%. The business’s revenue for the quarter was up 32.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.25) EPS. Equities research analysts forecast that Schnitzer Steel Industries, Inc. will post $1.08 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, May 22nd. Investors of record on Monday, May 8th were paid a dividend of $0.1875 per share. The ex-dividend date was Thursday, May 4th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.83%. Schnitzer Steel Industries’s payout ratio is currently 56.39%.
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Separately, Zacks Investment Research upgraded Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $22.00 price target for the company in a research note on Tuesday, May 9th.
About Schnitzer Steel Industries
Schnitzer Steel Industries, Inc is a recycler of ferrous and nonferrous scrap metal, including end-of-life vehicles, and a manufacturer of finished steel products. The Company operates through two segments: the Auto and Metals Recycling (AMR) business and the Steel Manufacturing Business (SMB). The AMR segment collects and recycles auto bodies, rail cars, home appliances, industrial machinery, manufacturing scrap and construction and demolition scrap from bridges, buildings and other infrastructure.
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