American Century Companies Inc. Buys 39,129 Shares of Schnitzer Steel Industries, Inc. (SCHN)
American Century Companies Inc. boosted its stake in shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) by 19.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 244,190 shares of the basic materials company’s stock after purchasing an additional 39,129 shares during the period. American Century Companies Inc.’s holdings in Schnitzer Steel Industries were worth $8,180,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Fox Run Management L.L.C. acquired a new stake in Schnitzer Steel Industries during the 3rd quarter worth approximately $597,000. Engineers Gate Manager LP lifted its position in Schnitzer Steel Industries by 126.4% during the 3rd quarter. Engineers Gate Manager LP now owns 41,286 shares of the basic materials company’s stock worth $1,162,000 after acquiring an additional 23,049 shares during the period. Prudential Financial Inc. lifted its position in Schnitzer Steel Industries by 18.9% during the 3rd quarter. Prudential Financial Inc. now owns 232,427 shares of the basic materials company’s stock worth $6,543,000 after acquiring an additional 37,010 shares during the period. Hillcrest Asset Management LLC acquired a new stake in Schnitzer Steel Industries during the 3rd quarter worth approximately $5,651,000. Finally, State Street Corp lifted its position in Schnitzer Steel Industries by 1.6% during the 2nd quarter. State Street Corp now owns 1,344,366 shares of the basic materials company’s stock worth $33,877,000 after acquiring an additional 20,636 shares during the period. 85.78% of the stock is owned by institutional investors.
A number of analysts have weighed in on SCHN shares. Zacks Investment Research cut Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. Morgan Stanley increased their price objective on Schnitzer Steel Industries from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 31st. ValuEngine raised Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research report on Saturday, December 9th. Finally, BidaskClub raised Schnitzer Steel Industries from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 22nd. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the stock. Schnitzer Steel Industries presently has a consensus rating of “Buy” and a consensus price target of $31.33.
Schnitzer Steel Industries (NASDAQ:SCHN) last issued its earnings results on Tuesday, January 9th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The business had revenue of $483.00 million during the quarter, compared to the consensus estimate of $502.02 million. Schnitzer Steel Industries had a return on equity of 11.90% and a net margin of 3.50%. The company’s revenue for the quarter was up 44.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.05) EPS. research analysts anticipate that Schnitzer Steel Industries, Inc. will post 2.67 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 26th. Stockholders of record on Monday, February 12th will be paid a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Friday, February 9th. Schnitzer Steel Industries’s dividend payout ratio (DPR) is 33.04%.
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Schnitzer Steel Industries Profile
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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