Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) SVP Steven Heiskell sold 2,976 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $28.05, for a total value of $83,476.80. Following the completion of the sale, the senior vice president now owns 50,501 shares in the company, valued at $1,416,553.05. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) opened at $26.90 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.92 and a quick ratio of 0.97. The firm has a market capitalization of $727.97, a price-to-earnings ratio of 17.58 and a beta of 1.37. Schnitzer Steel Industries, Inc. has a 12 month low of $17.50 and a 12 month high of $31.35.
Schnitzer Steel Industries (NASDAQ:SCHN) last released its quarterly earnings data on Tuesday, October 24th. The basic materials company reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.01. Schnitzer Steel Industries had a net margin of 2.64% and a return on equity of 8.49%. The business had revenue of $494.00 million during the quarter, compared to analysts’ expectations of $495.73 million. During the same quarter in the prior year, the company earned $0.60 EPS. The firm’s quarterly revenue was up 26.3% on a year-over-year basis. sell-side analysts forecast that Schnitzer Steel Industries, Inc. will post 2.02 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 27th. Investors of record on Monday, November 13th will be given a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date is Friday, November 10th. Schnitzer Steel Industries’s dividend payout ratio is currently 47.17%.
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SCHN has been the topic of several recent analyst reports. Zacks Investment Research raised Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $29.00 target price on the stock in a report on Wednesday, August 16th. BidaskClub downgraded Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Morgan Stanley boosted their target price on Schnitzer Steel Industries from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 31st. KeyCorp reissued a “hold” rating on shares of Schnitzer Steel Industries in a report on Wednesday, October 11th. Finally, ValuEngine raised Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a report on Thursday, October 5th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $29.33.
Several institutional investors and hedge funds have recently added to or reduced their stakes in SCHN. Wells Fargo & Company MN increased its position in shares of Schnitzer Steel Industries by 395.2% in the 2nd quarter. Wells Fargo & Company MN now owns 577,820 shares of the basic materials company’s stock valued at $14,561,000 after buying an additional 461,146 shares in the last quarter. Koch Industries Inc. bought a new position in Schnitzer Steel Industries during the 2nd quarter worth about $367,000. Rutabaga Capital Management LLC MA increased its holdings in 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 purchasing an additional 365,259 shares in the last quarter. Hillcrest Asset Management LLC bought a new position in Schnitzer Steel Industries during the 3rd quarter worth about $5,651,000. Finally, State Street Corp increased its holdings in Schnitzer Steel Industries by 17.5% during the 1st quarter. State Street Corp now owns 1,323,730 shares of the basic materials company’s stock worth $27,335,000 after purchasing an additional 197,370 shares in the last quarter. Institutional investors and hedge funds own 83.51% 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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