ValuEngine lowered shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) from a buy rating to a hold rating in a research note issued to investors on Friday.
A number of other brokerages have also recently commented on SCHN. BidaskClub cut Schnitzer Steel Industries from a buy rating to a hold rating in a research report on Wednesday, August 16th. Zacks Investment Research cut Schnitzer Steel Industries from a buy rating to a hold rating in a research report on Saturday, July 22nd. TheStreet upgraded Schnitzer Steel Industries from a c+ rating to a b rating in a research report on Friday, June 30th. Finally, Macquarie initiated coverage on Schnitzer Steel Industries in a research report on Wednesday, September 6th. They issued a neutral rating and a $26.00 price target on the stock. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $27.50.
Shares of Schnitzer Steel Industries (NASDAQ:SCHN) opened at 26.80 on Friday. The stock has a 50 day moving average of $25.91 and a 200 day moving average of $22.40. Schnitzer Steel Industries has a 52 week low of $17.43 and a 52 week high of $30.60. The firm has a market cap of $739.68 million, a P/E ratio of 17.43 and a beta of 1.33.
Schnitzer Steel Industries (NASDAQ:SCHN) last issued its quarterly earnings results on Monday, June 26th. The basic materials company reported $0.56 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.56. Schnitzer Steel Industries had a return on equity of 8.34% and a net margin of 2.68%. The company had revenue of $477.00 million for the quarter. During the same quarter in the previous year, the business posted $0.46 EPS. The firm’s revenue for the quarter was up 35.5% on a year-over-year basis. Analysts anticipate that Schnitzer Steel Industries will post $1.47 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Monday, August 21st. Investors of record on Monday, August 7th were given a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date was Thursday, August 3rd. Schnitzer Steel Industries’s payout ratio is currently 49.02%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its stake in Schnitzer Steel Industries by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,270,696 shares of the basic materials company’s stock valued at $46,890,000 after buying an additional 18,355 shares in the last quarter. State Street Corp boosted its stake in Schnitzer Steel Industries by 1.6% in the second quarter. State Street Corp now owns 1,344,366 shares of the basic materials company’s stock valued at $33,877,000 after buying an additional 20,636 shares in the last quarter. Rutabaga Capital Management LLC MA boosted its stake in Schnitzer Steel Industries by 69.4% in the second quarter. Rutabaga Capital Management LLC MA now owns 891,536 shares of the basic materials company’s stock valued at $22,467,000 after buying an additional 365,259 shares in the last quarter. Heartland Advisors Inc. boosted its stake in Schnitzer Steel Industries by 7.1% in the second quarter. Heartland Advisors Inc. now owns 711,995 shares of the basic materials company’s stock valued at $17,942,000 after buying an additional 47,447 shares in the last quarter. Finally, Teachers Advisors LLC boosted its stake in Schnitzer Steel Industries by 24.8% in the second quarter. Teachers Advisors LLC now owns 595,951 shares of the basic materials company’s stock valued at $15,018,000 after buying an additional 118,453 shares in the last quarter. Institutional investors own 82.37% of the company’s stock.
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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