LSV Asset Management Takes $1.61 Million Position in Schnitzer Steel Industries, Inc. (SCHN)

LSV Asset Management acquired a new stake in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 48,200 shares of the basic materials company’s stock, valued at approximately $1,614,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fox Run Management L.L.C. purchased a new stake in Schnitzer Steel Industries in the third quarter valued at approximately $597,000. Engineers Gate Manager LP lifted its stake in Schnitzer Steel Industries by 126.4% in the third quarter. Engineers Gate Manager LP now owns 41,286 shares of the basic materials company’s stock valued at $1,162,000 after buying an additional 23,049 shares during the last quarter. Prudential Financial Inc. lifted its stake in Schnitzer Steel Industries by 18.9% in the third quarter. Prudential Financial Inc. now owns 232,427 shares of the basic materials company’s stock valued at $6,543,000 after buying an additional 37,010 shares during the last quarter. TIAA CREF Investment Management LLC lifted its stake in Schnitzer Steel Industries by 79.3% in the second quarter. TIAA CREF Investment Management LLC now owns 189,760 shares of the basic materials company’s stock valued at $4,782,000 after buying an additional 83,951 shares during the last quarter. Finally, Hillcrest Asset Management LLC purchased a new stake in Schnitzer Steel Industries in the third quarter valued at approximately $5,651,000. Institutional investors own 87.76% of the company’s stock.

Shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) opened at $35.25 on Thursday. Schnitzer Steel Industries, Inc. has a 52 week low of $17.50 and a 52 week high of $38.85. The company has a current ratio of 2.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $914.02, a P/E ratio of 15.46 and a beta of 1.40.

Schnitzer Steel Industries (NASDAQ:SCHN) last released its quarterly earnings results on Tuesday, January 9th. The basic materials company reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.02. Schnitzer Steel Industries had a return on equity of 11.90% and a net margin of 3.50%. The business had revenue of $483.00 million during the quarter, compared to analysts’ expectations of $502.02 million. During the same quarter in the prior year, the business earned ($0.05) earnings per share. The company’s quarterly revenue was up 44.6% compared to the same quarter last year. research analysts forecast that Schnitzer Steel Industries, Inc. will post 2.67 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, February 26th. Stockholders of record on Monday, February 12th will be paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Friday, February 9th. Schnitzer Steel Industries’s dividend payout ratio (DPR) is presently 32.89%.

SCHN has been the subject of a number of research reports. ValuEngine upgraded Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research note on Saturday, December 9th. Zacks Investment Research upgraded Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $39.00 price objective for the company in a research note on Tuesday, January 2nd. Morgan Stanley boosted their price objective on Schnitzer Steel Industries from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 31st. Finally, BidaskClub upgraded Schnitzer Steel Industries from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 22nd. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the stock. Schnitzer Steel Industries has a consensus rating of “Buy” and a consensus price target of $31.33.

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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.

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

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