Schnitzer Steel Industries Inc. (SCHN) Trading 3.5% Higher
Schnitzer Steel Industries Inc. (NASDAQ:SCHN) traded up 3.5% on Monday . The stock 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.
Several research analysts have commented on the company. Zacks Investment Research downgraded Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, May 3rd. TheStreet upgraded Schnitzer Steel Industries from a “sell” rating to a “hold” rating in a research note on Monday, April 25th. Finally, DA Davidson restated a “hold” rating on shares of Schnitzer Steel Industries in a research note on Saturday, April 2nd. Five equities research analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and an average target price of $19.25.
The stock’s 50 day moving average price is $16.87 and its 200 day moving average price is $16.33. The firm’s market capitalization is $545.20 million.
Schnitzer Steel Industries (NASDAQ:SCHN) last announced its quarterly 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 business had revenue of $352 million for the quarter. The business’s quarterly revenue was down 24.6% compared to the same quarter last year. Analysts forecast that Schnitzer Steel Industries Inc. will post $0.42 earnings per share for the current year.
In other news, insider Jeffery Dyck sold 9,205 shares of the company’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $17.61, for a total transaction of $162,100.05. Following the transaction, the insider now directly owns 38,265 shares of the company’s stock, valued at $673,846.65. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Other hedge funds have recently bought and sold shares of the company. Matarin Capital Management LLC purchased a new stake in Schnitzer Steel Industries during the fourth quarter worth approximately $3,646,000. Mutual of America Capital Management LLC boosted 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 worth $1,217,000 after buying an additional 7,253 shares during the period. Pzena Investment Management LLC boosted 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 worth $14,716,000 after buying an additional 9,500 shares during the period. Finally, American Century Companies Inc. boosted 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 worth $3,236,000 after buying an additional 111,054 shares during the period.
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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