Schnitzer Steel Industries Inc. (SCHN) Shares Up 4.6%
Shares of Schnitzer Steel Industries Inc. (NASDAQ:SCHN) shot up 4.6% on Tuesday . The company traded as high as $19.57 and last traded at $19.53, with a volume of 411,134 shares trading hands. The stock had previously closed at $18.68.
A number of research firms recently weighed in on SCHN. Zacks Investment Research cut shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, May 3rd. TheStreet raised shares of Schnitzer Steel Industries from a “sell” rating to a “hold” rating in a research note on Monday, April 25th. Finally, DA Davidson reaffirmed a “hold” rating on shares of Schnitzer Steel Industries in a research note on Saturday, April 2nd. Five analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and an average price target of $19.25.
The firm has a 50 day moving average of $17.76 and a 200 day moving average of $16.71. The stock’s market cap is $532.39 million.
Schnitzer Steel Industries (NASDAQ:SCHN) last issued its earnings results on Thursday, June 30th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.18 by $0.28. The firm earned $352 million during the quarter. The firm’s revenue was down 24.6% compared to the same quarter last year. Equities analysts predict that Schnitzer Steel Industries Inc. will post $0.42 EPS for the current fiscal year.
In other news, insider Jeffery Dyck sold 9,205 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
A hedge fund recently raised its stake in Schnitzer Steel Industries stock. Mutual of America Capital Management LLC raised its position in Schnitzer Steel Industries Inc. (NASDAQ:SCHN) by 9.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,687 shares of the company’s stock after buying an additional 7,253 shares during the period. Mutual of America Capital Management LLC owned about 0.31% of Schnitzer Steel Industries worth $1,217,000 as of its most recent filing with the SEC.
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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