Schnitzer Steel Industries Inc. (SCHN) Shares Down 3.3%
Shares of Schnitzer Steel Industries Inc. (NASDAQ:SCHN) were down 3.3% during trading on Tuesday . The company traded as low as $18.61 and last traded at $18.73, with a volume of 107,947 shares traded. The stock had previously closed at $19.36.
A number of analysts recently commented on SCHN shares. Zacks Investment Research cut Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, May 3rd. TheStreet upgraded Schnitzer Steel Industries from a “sell” rating to a “hold” rating in a research report on Monday, April 25th. Five equities research analysts have rated the stock with a hold rating, Schnitzer Steel Industries currently has a consensus rating of “Hold” and a consensus target price of $19.25.
The company’s 50 day moving average is $18.48 and its 200-day moving average is $17.18. The firm’s market capitalization is $511.13 million.
Schnitzer Steel Industries (NASDAQ:SCHN) last announced its quarterly earnings results on Thursday, June 30th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.28. The business had revenue of $352 million for the quarter. The firm’s revenue for the quarter was down 24.6% on a year-over-year basis. On average, equities analysts forecast that Schnitzer Steel Industries Inc. will post $0.42 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 22nd. Shareholders of record on Monday, August 8th will be given a dividend of $0.1875 per share. The ex-dividend date is Thursday, August 4th. This represents a $0.75 dividend on an annualized basis and a yield of 4.05%.
In other Schnitzer Steel Industries news, insider Jeffery Dyck sold 9,205 shares of the business’s stock in a transaction 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 transaction, the insider now owns 38,265 shares in the company, valued at approximately $673,846.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
A hedge fund recently bought a new stake in Schnitzer Steel Industries stock. Matarin Capital Management LLC acquired a new stake in shares of Schnitzer Steel Industries Inc. (NASDAQ:SCHN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 253,699 shares of the company’s stock, valued at approximately $3,646,000. Matarin Capital Management LLC owned 0.94% of Schnitzer Steel Industries 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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