Schnitzer Steel Industries Inc. (SCHN) Stock Price Down 1.9%
Schnitzer Steel Industries Inc. (NASDAQ:SCHN) traded down 1.9% on Tuesday . The company traded as low as $18.58 and last traded at $18.69, with a volume of 95,945 shares changing hands. The stock had previously closed at $19.06.
Separately, Zacks Investment Research downgraded Schnitzer Steel Industries from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 16th. Five investment analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and a consensus price target of $19.25.
The company has a 50-day moving average price of $19.13 and a 200 day moving average price of $17.78. The company’s market capitalization is $508.13 million.
Schnitzer Steel Industries (NASDAQ:SCHN) last released its quarterly earnings results on Thursday, June 30th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the 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% on a year-over-year basis. Analysts anticipate that Schnitzer Steel Industries Inc. will post $0.38 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 22nd. Investors of record on Monday, August 8th were paid a dividend of $0.1875 per share. The ex-dividend date of this dividend was Thursday, August 4th. This represents a $0.75 annualized dividend and a yield of 4.02%.
In related news, insider Jeffery Dyck sold 9,205 shares of the 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 completion of the sale, the insider now owns 38,265 shares in the company, valued at approximately $673,846.65. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
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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