Systematic Financial Management LP increased its holdings in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) by 70.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 211,071 shares of the basic materials company’s stock after purchasing an additional 87,211 shares during the quarter. Systematic Financial Management LP owned approximately 0.78% of Schnitzer Steel Industries worth $7,113,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC bought a new stake in shares of Schnitzer Steel Industries in the first quarter worth about $113,000. PNC Financial Services Group Inc. grew its stake in shares of Schnitzer Steel Industries by 134.9% in the first quarter. PNC Financial Services Group Inc. now owns 4,784 shares of the basic materials company’s stock worth $156,000 after purchasing an additional 2,747 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Schnitzer Steel Industries in the second quarter worth about $217,000. Sei Investments Co. lifted its holdings in Schnitzer Steel Industries by 120.4% in the first quarter. Sei Investments Co. now owns 6,481 shares of the basic materials company’s stock worth $210,000 after buying an additional 3,540 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. lifted its holdings in Schnitzer Steel Industries by 124.0% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,755 shares of the basic materials company’s stock worth $218,000 after buying an additional 3,740 shares during the period. 92.99% of the stock is currently owned by institutional investors.
In other news, Director John D. Carter sold 13,676 shares of Schnitzer Steel Industries 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 completion of the transaction, the director now directly owns 62,454 shares in the company, valued at $2,312,047.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.50% of the stock is currently owned by company insiders.
SCHN has been the subject of several research analyst reports. Morgan Stanley lowered shares of Schnitzer Steel Industries from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $38.00 to $26.00 in a report on Wednesday, August 15th. BidaskClub lowered shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. ValuEngine lowered shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a report on Saturday, May 26th. Finally, Zacks Investment Research upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Saturday, June 16th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Schnitzer Steel Industries has a consensus rating of “Hold” and a consensus price target of $32.75.
Shares of SCHN opened at $26.30 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 2.20 and a debt-to-equity ratio of 0.28. Schnitzer Steel Industries, Inc. has a one year low of $25.00 and a one year high of $38.85. The stock has a market capitalization of $687.20 million, a price-to-earnings ratio of 17.25 and a beta of 1.37.
Schnitzer Steel Industries (NASDAQ:SCHN) last issued its quarterly earnings data on Tuesday, June 26th. The basic materials company reported $1.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.08. Schnitzer Steel Industries had a net margin of 5.25% and a return on equity of 17.21%. The business had revenue of $652.00 million during the quarter, compared to analyst estimates of $651.09 million. During the same period last year, the business posted $0.56 earnings per share. Schnitzer Steel Industries’s quarterly revenue was up 36.7% compared to the same quarter last year. sell-side analysts predict that Schnitzer Steel Industries, Inc. will post 3.74 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 27th. Shareholders of record on Monday, August 13th will be issued a $0.1875 dividend. The ex-dividend date is Friday, August 10th. This represents a $0.75 annualized dividend and a yield of 2.85%. Schnitzer Steel Industries’s dividend payout ratio (DPR) is presently 49.02%.
Schnitzer Steel Industries Company Profile
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.
Further Reading: Fundamental Analysis – How It Helps Investors
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