Schnitzer Steel Industries Inc. (SCHN) Trading Up 4%
Schnitzer Steel Industries Inc. (NASDAQ:SCHN)’s share price was up 4% during mid-day trading on Monday . The company traded as high as $19.04 and last traded at $18.93, with a volume of 156,620 shares changing hands. The stock had previously closed at $18.20.
A number of equities analysts have issued reports on SCHN shares. TheStreet raised Schnitzer Steel Industries from a “sell” rating to a “hold” rating in a research note on Monday, April 25th. Zacks Investment Research raised Schnitzer Steel Industries from a “strong sell” rating to a “hold” rating and set a $21.00 price target for the company in a research note on Saturday, July 2nd. Five research analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and a consensus target price of $19.25.
The firm has a 50 day moving average of $18.71 and a 200-day moving average of $17.35. The company’s market capitalization is $519.85 million.
Schnitzer Steel Industries (NASDAQ:SCHN) last released its quarterly earnings data on Thursday, June 30th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.28. The company had revenue of $352 million for the quarter. The business’s quarterly revenue was down 24.6% compared to the same quarter last year. On average, equities research analysts anticipate that Schnitzer Steel Industries Inc. will post $0.42 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 22nd. Shareholders of record on Monday, August 8th will be issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date is Thursday, August 4th.
In other Schnitzer Steel Industries news, insider Jeffery Dyck sold 9,205 shares of Schnitzer Steel Industries stock in a transaction that occurred 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 sale, the insider now directly owns 38,265 shares of the company’s stock, valued at $673,846.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
An institutional investor recently raised its position in Schnitzer Steel Industries stock. Mutual of America Capital Management LLC increased its stake in Schnitzer Steel Industries Inc. (NASDAQ:SCHN) by 9.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund 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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