Schnitzer Steel Industries (SCHN) Lifted to “Sell” at ValuEngine

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ValuEngine upgraded shares of Schnitzer Steel Industries (NASDAQ:SCHN) from a strong sell rating to a sell rating in a report issued on Thursday.

A number of other research analysts also recently commented on SCHN. BidaskClub upgraded Schnitzer Steel Industries from a sell rating to a hold rating in a report on Thursday, May 17th. Zacks Investment Research upgraded Schnitzer Steel Industries from a hold rating to a buy rating and set a $37.00 price objective on the stock in a report on Saturday, June 16th. Finally, Morgan Stanley increased their price objective on Schnitzer Steel Industries from $36.00 to $38.00 and gave the company an equal weight rating in a report on Friday, July 6th. Four analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $35.00.

NASDAQ SCHN traded up $0.10 during trading hours on Thursday, hitting $26.80. 787 shares of the company were exchanged, compared to its average volume of 471,375. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.20 and a quick ratio of 1.12. Schnitzer Steel Industries has a 52-week low of $25.00 and a 52-week high of $38.85. The company has a market cap of $719.54 million, a price-to-earnings ratio of 17.39 and a beta of 1.29.

Schnitzer Steel Industries (NASDAQ:SCHN) last issued its quarterly 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 company had revenue of $652.00 million for the quarter, compared to the consensus estimate of $651.09 million. During the same quarter in the prior year, the business earned $0.56 EPS. Schnitzer Steel Industries’s revenue was up 36.7% on a year-over-year basis. equities research analysts anticipate that Schnitzer Steel Industries will post 3.74 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 27th. Stockholders of record on Monday, August 13th were issued a $0.1875 dividend. The ex-dividend date was Friday, August 10th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.80%. Schnitzer Steel Industries’s payout ratio is currently 49.02%.

In other news, Director John D. Carter sold 13,676 shares of the stock in a transaction dated Tuesday, July 10th. The stock was sold at an average price of $37.02, for a total value of $506,285.52. Following the transaction, the director now 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 at this hyperlink. Corporate insiders own 3.80% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Schnitzer Steel Industries by 6.6% in the 2nd quarter. BlackRock Inc. now owns 2,847,448 shares of the basic materials company’s stock valued at $95,958,000 after acquiring an additional 175,455 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Schnitzer Steel Industries by 1.7% in the 1st quarter. Northern Trust Corp now owns 504,409 shares of the basic materials company’s stock valued at $16,318,000 after acquiring an additional 8,616 shares during the last quarter. Matarin Capital Management LLC purchased a new position in Schnitzer Steel Industries during the 1st quarter worth approximately $14,655,000. Stifel Financial Corp grew its stake in Schnitzer Steel Industries by 5.3% during the 1st quarter. Stifel Financial Corp now owns 414,333 shares of the basic materials company’s stock worth $13,420,000 after buying an additional 20,740 shares during the last quarter. Finally, Prudential Financial Inc. grew its stake in Schnitzer Steel Industries by 42.3% during the 1st quarter. Prudential Financial Inc. now owns 389,904 shares of the basic materials company’s stock worth $12,613,000 after buying an additional 115,960 shares during the last quarter. Institutional investors and hedge funds own 89.87% 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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