Schnitzer Steel Industries Inc. (SCHN) Trading Down 1.9%
Schnitzer Steel Industries Inc. (NASDAQ:SCHN) shares fell 1.9% during trading on Monday . The stock traded as low as $19.73 and last traded at $19.91, with a volume of 161,045 shares. The stock had previously closed at $20.29.
Several research firms have commented on SCHN. DA Davidson restated a “hold” rating on shares of Schnitzer Steel Industries in a report on Saturday, April 2nd. Zacks Investment Research cut shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd. Finally, TheStreet upgraded shares of Schnitzer Steel Industries from a “sell” rating to a “hold” rating in a report on Monday, April 25th. Five equities research analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and a consensus price target of $19.25.
The stock’s market cap is $547.93 million. The stock has a 50-day moving average of $17.21 and a 200 day moving average of $16.43.
Schnitzer Steel Industries (NASDAQ:SCHN) last announced its quarterly earnings data on Thursday, June 30th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.28. The company had revenue of $352 million for the quarter. The firm’s quarterly revenue was down 24.6% compared to the same quarter last year. On average, equities analysts forecast that Schnitzer Steel Industries Inc. will post $0.42 EPS for the current fiscal year.
In other Schnitzer Steel Industries news, insider Jeffery Dyck sold 9,205 shares of the company’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $17.61, for a total value of $162,100.05. Following the completion of the transaction, the insider now directly owns 38,265 shares in the company, valued at approximately $673,846.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Other hedge funds have recently modified their holdings of the company. Mutual of America Capital Management LLC boosted its stake in shares of 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. American Century Companies Inc. boosted its stake in shares of 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 purchased a new stake in shares of Schnitzer Steel Industries during the fourth quarter valued at about $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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