ValuEngine cut shares of Schnitzer Steel Industries (NASDAQ:SCHN) from a hold rating to a sell rating in a report released on Tuesday.
Other equities research analysts have also issued reports about the stock. BidaskClub lowered shares of Schnitzer Steel Industries from a buy rating to a hold rating in a report on Friday, August 3rd. Zacks Investment Research upgraded shares of Schnitzer Steel Industries from a hold rating to a buy rating and set a $37.00 target price on the stock in a report on Saturday, June 16th. Finally, Morgan Stanley increased their target price on shares of Schnitzer Steel Industries from $36.00 to $38.00 and gave the stock an equal weight rating in a report on Friday, July 6th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Schnitzer Steel Industries presently has an average rating of Hold and a consensus target price of $32.75.
NASDAQ:SCHN opened at $25.50 on Tuesday. 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 $801.73 million, a P/E ratio of 16.67 and a beta of 1.37. Schnitzer Steel Industries has a fifty-two week low of $25.00 and a fifty-two week high of $38.85.
Schnitzer Steel Industries (NASDAQ:SCHN) last posted its quarterly earnings data on Tuesday, June 26th. The basic materials company reported $1.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.08. The firm had revenue of $652.00 million during the quarter, compared to analysts’ expectations of $651.09 million. Schnitzer Steel Industries had a net margin of 5.25% and a return on equity of 17.21%. The firm’s quarterly revenue was up 36.7% on a year-over-year basis. During the same quarter last year, the company posted $0.56 EPS. equities analysts forecast that Schnitzer Steel Industries will post 3.56 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 27th. Shareholders of record on Monday, August 13th will be issued a dividend of $0.1875 per share. The ex-dividend date of this dividend is Friday, August 10th. This represents a $0.75 dividend on an annualized basis and a yield of 2.94%. Schnitzer Steel Industries’s dividend payout ratio (DPR) is presently 49.02%.
In other Schnitzer Steel Industries news, Director John D. Carter sold 13,676 shares of the stock in a transaction that occurred on Tuesday, July 10th. The shares were sold at an average price of $37.02, for a total transaction of $506,285.52. Following the sale, the director now directly owns 62,454 shares in the company, valued at approximately $2,312,047.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.50% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its holdings in Schnitzer Steel Industries by 12.1% during the 2nd quarter. Bank of America Corp DE now owns 280,286 shares of the basic materials company’s stock worth $9,445,000 after buying an additional 30,306 shares in the last quarter. Capital Fund Management S.A. acquired a new stake in Schnitzer Steel Industries during the 2nd quarter worth approximately $206,000. OppenheimerFunds Inc. raised its holdings in shares of Schnitzer Steel Industries by 42.2% in the 2nd quarter. OppenheimerFunds Inc. now owns 12,251 shares of the basic materials company’s stock valued at $412,000 after purchasing an additional 3,633 shares in the last quarter. BlueMountain Capital Management LLC raised its holdings in shares of Schnitzer Steel Industries by 125.9% in the 2nd quarter. BlueMountain Capital Management LLC now owns 8,151 shares of the basic materials company’s stock valued at $275,000 after purchasing an additional 4,542 shares in the last quarter. Finally, NumerixS Investment Technologies Inc raised its holdings in shares of Schnitzer Steel Industries by 71.7% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 7,900 shares of the basic materials company’s stock valued at $273,000 after purchasing an additional 3,300 shares in the last quarter. Institutional investors own 89.40% of the company’s stock.
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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