Schnitzer Steel Industries, Inc. (SCHN) CFO Richard Peach Sells 18,067 Shares

Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) CFO Richard Peach sold 18,067 shares of the firm’s stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of $27.29, for a total value of $493,048.43. Following the transaction, the chief financial officer now owns 133,950 shares in the company, valued at $3,655,495.50. The sale was disclosed in a document filed with the SEC, which is available at this link.

Richard Peach also recently made the following trade(s):

  • On Friday, October 26th, Richard Peach sold 6,030 shares of Schnitzer Steel Industries stock. The shares were sold at an average price of $27.56, for a total value of $166,186.80.

Shares of NASDAQ SCHN traded down $0.79 during mid-day trading on Friday, reaching $27.13. 5,682 shares of the company’s stock were exchanged, compared to its average volume of 426,295. The stock has a market capitalization of $728.97 million, a price-to-earnings ratio of 5.00 and a beta of 1.13. Schnitzer Steel Industries, Inc. has a 52 week low of $23.70 and a 52 week high of $38.85. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.76 and a quick ratio of 0.95.

Schnitzer Steel Industries (NASDAQ:SCHN) last released its earnings results on Wednesday, October 24th. The basic materials company reported $2.06 EPS for the quarter, topping the Zacks’ consensus estimate of $0.95 by $1.11. The company had revenue of $670.00 million for the quarter, compared to analysts’ expectations of $641.60 million. Schnitzer Steel Industries had a return on equity of 23.08% and a net margin of 6.62%. The business’s revenue for the quarter was up 35.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.63 EPS. Research analysts expect that Schnitzer Steel Industries, Inc. will post 2.54 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 26th. Stockholders of record on Monday, November 12th will be paid a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Thursday, November 8th. Schnitzer Steel Industries’s payout ratio is 13.91%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SCHN. Northpointe Capital LLC bought a new stake in Schnitzer Steel Industries in the 2nd quarter valued at about $6,633,000. BlackRock Inc. raised its stake in 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 period. Foundry Partners LLC bought a new stake in Schnitzer Steel Industries in the 3rd quarter valued at about $4,733,000. Systematic Financial Management LP raised its stake in Schnitzer Steel Industries by 70.4% in the 2nd quarter. Systematic Financial Management LP now owns 211,071 shares of the basic materials company’s stock valued at $7,113,000 after acquiring an additional 87,211 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Schnitzer Steel Industries in the 3rd quarter valued at about $2,239,000. Institutional investors own 89.79% of the company’s stock.

Several equities analysts have weighed in on the company. BidaskClub cut Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. Morgan Stanley cut Schnitzer Steel Industries from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $38.00 to $26.00 in a research note on Wednesday, August 15th. ValuEngine cut Schnitzer Steel Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, August 14th. Macquarie set a $29.00 target price on Schnitzer Steel Industries and gave the stock a “hold” rating in a research note on Thursday, October 25th. Finally, Zacks Investment Research cut Schnitzer Steel Industries from a “hold” rating to a “sell” rating in a research note on Thursday, September 6th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. Schnitzer Steel Industries presently has an average rating of “Hold” and a consensus target price of $33.50.

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Schnitzer Steel Industries Company Profile

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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