Schnitzer Steel Industries Inc. (SCHN) Trading Down 1.9%
Shares of Schnitzer Steel Industries Inc. (NASDAQ:SCHN) fell 1.9% during mid-day trading on Monday . The stock traded as low as $19.73 and last traded at $19.91, with a volume of 161,045 shares changing hands. The stock had previously closed at $20.29.
Several brokerages have recently issued reports on SCHN. DA Davidson restated a “hold” rating on shares of Schnitzer Steel Industries in a research report on Saturday, April 2nd. Zacks Investment Research lowered shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, May 3rd. Finally, TheStreet raised shares of Schnitzer Steel Industries from a “sell” rating to a “hold” rating in a research report on Monday, April 25th. Five research analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and a consensus price target of $19.25.
The company has a 50-day moving average price of $17.38 and a 200 day moving average price of $16.51. The company’s market cap is $519.85 million.
Schnitzer Steel Industries (NASDAQ:SCHN) last posted its quarterly earnings results on Thursday, June 30th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.28. The business had revenue of $352 million for the quarter. The company’s revenue for the quarter was down 24.6% compared to the same quarter last year. Analysts anticipate that Schnitzer Steel Industries Inc. will post $0.42 earnings per share for the current fiscal year.
In related news, insider Jeffery Dyck sold 9,205 shares of the business’s stock in a transaction dated Tuesday, July 5th. The shares were 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 in the company, valued at $673,846.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
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 filing with the Securities and Exchange Commission (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 SEC filing.
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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