28,000 Shares in Schnitzer Steel Industries, Inc. (SCHN) Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. purchased a new position in shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 28,000 shares of the basic materials company’s stock, valued at approximately $788,000. Russell Investments Group Ltd. owned approximately 0.10% of Schnitzer Steel Industries as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Schnitzer Steel Industries by 1.6% during the 2nd quarter. State Street Corp now owns 1,344,366 shares of the basic materials company’s stock worth $33,877,000 after acquiring an additional 20,636 shares in the last quarter. Rutabaga Capital Management LLC MA boosted its stake in shares of Schnitzer Steel Industries by 69.4% during the 2nd quarter. Rutabaga Capital Management LLC MA now owns 891,536 shares of the basic materials company’s stock worth $22,467,000 after acquiring an additional 365,259 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of Schnitzer Steel Industries by 24.8% during the 2nd quarter. Teachers Advisors LLC now owns 595,951 shares of the basic materials company’s stock worth $15,018,000 after acquiring an additional 118,453 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Schnitzer Steel Industries by 395.2% during the 2nd quarter. Wells Fargo & Company MN now owns 577,820 shares of the basic materials company’s stock worth $14,561,000 after acquiring an additional 461,146 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Schnitzer Steel Industries by 2.9% during the 2nd quarter. Northern Trust Corp now owns 503,458 shares of the basic materials company’s stock worth $12,686,000 after acquiring an additional 13,969 shares in the last quarter. Institutional investors own 86.84% of the company’s stock.

Shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) opened at $33.50 on Monday. Schnitzer Steel Industries, Inc. has a 52 week low of $17.50 and a 52 week high of $35.15. The firm has a market capitalization of $920.81, a P/E ratio of 21.20 and a beta of 1.36. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.97 and a current ratio of 1.92.

Schnitzer Steel Industries (NASDAQ:SCHN) last announced its earnings results on Tuesday, October 24th. The basic materials company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.01. Schnitzer Steel Industries had a return on equity of 8.49% and a net margin of 2.64%. The firm had revenue of $494.00 million during the quarter, compared to the consensus estimate of $495.73 million. During the same quarter in the prior year, the company earned $0.60 EPS. The firm’s revenue for the quarter was up 26.3% compared to the same quarter last year. equities analysts forecast that Schnitzer Steel Industries, Inc. will post 2.18 earnings per share for the current year.

Several research firms have recently issued reports on SCHN. BidaskClub upgraded Schnitzer Steel Industries from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 22nd. Zacks Investment Research downgraded Schnitzer Steel Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 19th. KeyCorp restated a “hold” rating on shares of Schnitzer Steel Industries in a research note on Wednesday, October 11th. ValuEngine upgraded Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research note on Thursday, October 5th. Finally, Macquarie initiated coverage on Schnitzer Steel Industries in a research note on Wednesday, September 6th. They set a “neutral” rating and a $26.00 target price for the company. Four research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $29.33.

In other Schnitzer Steel Industries news, CFO Richard Peach sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $28.33, for a total value of $226,640.00. Following the completion of the transaction, the chief financial officer now owns 119,283 shares of the company’s stock, valued at approximately $3,379,287.39. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Jeffery Dyck sold 8,327 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $30.05, for a total value of $250,226.35. Following the completion of the transaction, the senior vice president now directly owns 49,184 shares of the company’s stock, valued at approximately $1,477,979.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,770 shares of company stock valued at $654,919. 3.80% of the stock is owned by corporate insiders.

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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.

Institutional Ownership by Quarter for Schnitzer Steel Industries (NASDAQ:SCHN)

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