Trexquant Investment LP Acquires 26,681 Shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN)
Trexquant Investment LP raised its stake in shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) by 95.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,571 shares of the basic materials company’s stock after buying an additional 26,681 shares during the period. Schnitzer Steel Industries comprises approximately 0.4% of Trexquant Investment LP’s investment portfolio, making the stock its 23rd largest position. Trexquant Investment LP’s holdings in Schnitzer Steel Industries were worth $1,375,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Metropolitan Life Insurance Co. NY increased its position in shares of Schnitzer Steel Industries by 6.2% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 19,268 shares of the basic materials company’s stock worth $495,000 after buying an additional 1,132 shares during the last quarter. Guggenheim Capital LLC purchased a new position in shares of Schnitzer Steel Industries during the fourth quarter worth about $369,000. Norges Bank purchased a new position in shares of Schnitzer Steel Industries during the fourth quarter worth about $18,585,000. Teachers Advisors LLC increased its position in shares of Schnitzer Steel Industries by 0.4% in the fourth quarter. Teachers Advisors LLC now owns 431,834 shares of the basic materials company’s stock worth $11,098,000 after buying an additional 1,673 shares during the last quarter. Finally, Alpha Windward LLC increased its position in shares of Schnitzer Steel Industries by 5.6% in the first quarter. Alpha Windward LLC now owns 18,060 shares of the basic materials company’s stock worth $373,000 after buying an additional 960 shares during the last quarter. Institutional investors and hedge funds own 83.49% of the company’s stock.
Schnitzer Steel Industries, Inc. (SCHN) opened at 25.40 on Wednesday. The stock has a 50 day moving average of $24.48 and a 200-day moving average of $22.07. Schnitzer Steel Industries, Inc. has a 12 month low of $17.30 and a 12 month high of $30.60. The stock has a market cap of $701.04 million, a P/E ratio of 16.51 and a beta of 1.33.
Schnitzer Steel Industries (NASDAQ:SCHN) last issued its earnings results on Monday, June 26th. The basic materials company reported $0.56 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.56. The firm had revenue of $477 million for the quarter. Schnitzer Steel Industries had a net margin of 2.68% and a return on equity of 8.34%. The firm’s revenue was up 35.5% compared to the same quarter last year. During the same period last year, the business earned $0.46 EPS. On average, equities analysts forecast that Schnitzer Steel Industries, Inc. will post $1.44 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Monday, August 7th will be issued a $0.1875 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $0.75 annualized dividend and a yield of 2.95%. Schnitzer Steel Industries’s dividend payout ratio (DPR) is 49.02%.
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A number of research analysts have recently issued reports on the stock. TheStreet raised shares of Schnitzer Steel Industries from a “c+” rating to a “b” rating in a research report on Friday, June 30th. Zacks Investment Research raised shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Friday, July 21st.
About Schnitzer Steel Industries
Schnitzer Steel Industries, Inc is a recycler of ferrous and nonferrous scrap metal, including end-of-life vehicles, and a manufacturer of finished steel products. The Company operates through two segments: the Auto and Metals Recycling (AMR) business and the Steel Manufacturing Business (SMB). The AMR segment collects and recycles auto bodies, rail cars, home appliances, industrial machinery, manufacturing scrap and construction and demolition scrap from bridges, buildings and other infrastructure.
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