Schnitzer Steel Industries Inc. (SCHN) Stock Price Up 2%
Schnitzer Steel Industries Inc. (NASDAQ:SCHN) rose 2% on Thursday . The company traded as high as $18.98 and last traded at $18.90, with a volume of 92,822 shares changing hands. The stock had previously closed at $18.53.
Separately, Zacks Investment Research upgraded Schnitzer Steel Industries from a “strong sell” rating to a “hold” rating and set a $21.00 price target on the stock in a research note on Saturday, July 2nd. Five investment analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and an average price target of $19.25.
The company’s 50-day moving average price is $19.09 and its 200 day moving average price is $17.59. The stock’s market cap is $516.03 million.
Schnitzer Steel Industries (NASDAQ:SCHN) last announced its earnings results on Thursday, June 30th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.28. The company had revenue of $352 million for the quarter. The business’s revenue was down 24.6% on a year-over-year basis. On average, equities research analysts predict that Schnitzer Steel Industries Inc. will post $0.42 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, August 22nd. Investors of record on Monday, August 8th were given 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 dividend yield of 3.96%.
In related news, insider Jeffery Dyck sold 9,205 shares of Schnitzer Steel Industries 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 sale, the insider now directly owns 38,265 shares in the company, valued at $673,846.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
An institutional investor recently raised its position in Schnitzer Steel Industries stock. Mutual of America Capital Management LLC raised 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 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 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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