Schnitzer Steel Industries Inc. (SCHN) Trading Up 3.5%
Schnitzer Steel Industries Inc. (NASDAQ:SCHN)’s share price was up 3.5% during mid-day trading on Monday . The company traded as high as $19.30 and last traded at $19.28, with a volume of 174,758 shares. The stock had previously closed at $18.62.
A number of equities analysts recently issued reports on SCHN shares. Zacks Investment Research raised Schnitzer Steel Industries from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Saturday, March 26th. DA Davidson lifted their price objective on Schnitzer Steel Industries from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Friday, April 1st. Finally, TheStreet raised Schnitzer Steel Industries from a “sell” rating to a “hold” rating in a report on Monday, April 25th. Five investment analysts have rated the stock with a hold rating, Schnitzer Steel Industries has an average rating of “Hold” and an average target price of $19.25.
The stock’s market cap is $531.02 million. The company has a 50 day moving average of $16.65 and a 200 day moving average of $16.26.
Schnitzer Steel Industries (NASDAQ:SCHN) last issued its earnings results on Thursday, June 30th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.28. The company earned $352 million during the quarter. The company’s revenue for the quarter was down 24.6% on a year-over-year basis. On average, equities research analysts expect that Schnitzer Steel Industries Inc. will post $0.37 earnings per share for the current fiscal year.
In other news, insider Jeffery Dyck sold 9,205 shares of the company’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $17.61, for a total value of $162,100.05. Following the sale, the insider now owns 38,265 shares in the company, valued at approximately $673,846.65. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
A number of large investors have added to or reduced their stakes in SCHN. Mutual of America Capital Management LLC raised its stake in Schnitzer Steel Industries by 9.4% in the fourth quarter. Mutual of America Capital Management LLC now owns 84,687 shares of the company’s stock valued at $1,217,000 after buying an additional 7,253 shares during the period. Pzena Investment Management LLC raised its stake in Schnitzer Steel Industries by 0.9% in the fourth quarter. Pzena Investment Management LLC now owns 1,024,051 shares of the company’s stock valued at $14,716,000 after buying an additional 9,500 shares during the period. American Century Companies Inc. raised its stake in Schnitzer Steel Industries by 97.3% in the fourth quarter. American Century Companies Inc. now owns 225,220 shares of the company’s stock valued at $3,236,000 after buying an additional 111,054 shares during the period. Finally, Matarin Capital Management LLC acquired a new stake in Schnitzer Steel Industries during the fourth quarter valued at $3,646,000.
Schnitzer Steel Industries, Inc (SSI) is a recycler of ferrous and nonferrous scrap metal. The Company is recycler of used and salvaged vehicles and a manufacturer of finished steel products. The Company operates in three business segments: the Metals Recycling Business (MRB), the Auto Parts Business (APB) and the Steel Manufacturing Business (SMB).
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