Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) by 84.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 10,499 shares of the basic materials company’s stock after buying an additional 4,800 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Schnitzer Steel Industries were worth $296,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in SCHN. Macquarie Group Ltd. bought a new position in shares of Schnitzer Steel Industries during the 3rd quarter worth $791,000. Commonwealth Equity Services Inc bought a new stake in Schnitzer Steel Industries during the third quarter valued at about $204,000. Putnam FL Investment Management Co. bought a new stake in Schnitzer Steel Industries during the third quarter valued at about $1,469,000. Cambridge Investment Research Advisors Inc. bought a new stake in Schnitzer Steel Industries during the third quarter valued at about $648,000. Finally, Russell Investments Group Ltd. bought a new stake in Schnitzer Steel Industries during the third quarter valued at about $788,000. 86.84% of the stock is currently owned by institutional investors.
In other Schnitzer Steel Industries news, CFO Richard Peach sold 8,000 shares of Schnitzer Steel Industries stock in a transaction 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 sale, the chief financial officer now owns 119,283 shares in the company, valued at $3,379,287.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jeffery Dyck sold 8,327 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 49,184 shares in the company, valued at approximately $1,477,979.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,770 shares of company stock worth $654,919. 3.80% of the stock is currently owned by company insiders.
A number of equities research analysts have commented on the company. Zacks Investment Research cut Schnitzer Steel Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 19th. ValuEngine upgraded Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research note on Saturday, December 9th. KeyCorp reiterated a “hold” rating on shares of Schnitzer Steel Industries in a research report on Wednesday, October 11th. Macquarie assumed coverage on Schnitzer Steel Industries in a research report on Wednesday, September 6th. They set a “neutral” rating and a $26.00 price target for the company. Finally, Morgan Stanley lifted their price target on Schnitzer Steel Industries from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 31st. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Schnitzer Steel Industries has a consensus rating of “Hold” and a consensus price target of $29.33.
Shares of Schnitzer Steel Industries, Inc. (SCHN) traded up $0.40 during trading hours on Thursday, hitting $33.60. The stock had a trading volume of 278,851 shares, compared to its average volume of 411,868. Schnitzer Steel Industries, Inc. has a 12-month low of $17.50 and a 12-month high of $33.81. The firm has a market capitalization of $823.36, a price-to-earnings ratio of 19.89 and a beta of 1.36. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.92 and a quick ratio of 0.97.
Schnitzer Steel Industries (NASDAQ:SCHN) last announced its quarterly earnings data on Tuesday, October 24th. The basic materials company reported $0.63 EPS for the quarter, topping the Zacks’ 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 for the quarter, compared to the consensus estimate of $495.73 million. During the same quarter last year, the business posted $0.60 earnings per share. The firm’s revenue was up 26.3% compared to the same quarter last year. analysts forecast that Schnitzer Steel Industries, Inc. will post 2.18 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 27th. Investors of record on Monday, November 13th were given a dividend of $0.1875 per share. The ex-dividend date was Friday, November 10th. This represents a $0.75 dividend on an annualized basis and a yield of 2.23%. Schnitzer Steel Industries’s payout ratio is 47.17%.
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Schnitzer Steel Industries Company Profile
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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