Systematic Financial Management LP raised its stake in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) by 10.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 76,805 shares of the basic materials company’s stock after acquiring an additional 7,565 shares during the period. Systematic Financial Management LP owned approximately 0.28% of Schnitzer Steel Industries worth $1,935,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GW&K Investment Management LLC bought a new stake in Schnitzer Steel Industries in the 2nd quarter valued at $246,000. SG Americas Securities LLC purchased a new position in shares of Schnitzer Steel Industries in the 2nd quarter worth $383,000. Mark Sheptoff Financial Planning LLC grew its stake in shares of Schnitzer Steel Industries by 10.8% in the 2nd quarter. Mark Sheptoff Financial Planning LLC now owns 15,464 shares of the basic materials company’s stock worth $390,000 after buying an additional 1,508 shares in the last quarter. American International Group Inc. grew its stake in shares of Schnitzer Steel Industries by 7.1% in the 1st quarter. American International Group Inc. now owns 16,073 shares of the basic materials company’s stock worth $332,000 after buying an additional 1,061 shares in the last quarter. Finally, Wedbush Securities Inc. grew its stake in shares of Schnitzer Steel Industries by 37.4% in the 2nd quarter. Wedbush Securities Inc. now owns 16,340 shares of the basic materials company’s stock worth $412,000 after buying an additional 4,450 shares in the last quarter. Institutional investors own 82.37% of the company’s stock.

Schnitzer Steel Industries, Inc. (NASDAQ SCHN) opened at 26.70 on Thursday. The stock has a market capitalization of $736.92 million, a PE ratio of 17.36 and a beta of 1.33. Schnitzer Steel Industries, Inc. has a 52 week low of $17.38 and a 52 week high of $30.60. The firm has a 50 day moving average of $25.88 and a 200-day moving average of $22.33.

Schnitzer Steel Industries (NASDAQ:SCHN) last posted its quarterly earnings data on Monday, June 26th. The basic materials company reported $0.56 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.56. The company had revenue of $477.00 million during the quarter. Schnitzer Steel Industries had a net margin of 2.68% and a return on equity of 8.34%. The business’s revenue was up 35.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.46 earnings per share. On average, equities analysts predict that Schnitzer Steel Industries, Inc. will post $1.46 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Monday, August 7th were given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date was Thursday, August 3rd. Schnitzer Steel Industries’s dividend payout ratio is presently 49.02%.

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A number of equities analysts have commented on the stock. Macquarie assumed coverage on shares of Schnitzer Steel Industries in a research note on Wednesday, September 6th. They issued a “neutral” rating and a $26.00 price objective for the company. BidaskClub cut shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Zacks Investment Research raised shares of Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $29.00 price objective for the company in a research note on Wednesday, August 16th. Finally, TheStreet raised shares of Schnitzer Steel Industries from a “c+” rating to a “b” rating in a research note on Friday, June 30th. Three investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. Schnitzer Steel Industries currently has a consensus rating of “Buy” and an average price target of $27.50.

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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Institutional Ownership by Quarter for Schnitzer Steel Industries (NASDAQ:SCHN)

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