Shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) have received a consensus rating of “Hold” from the six analysts that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $32.33.

SCHN has been the subject of several recent analyst reports. Morgan Stanley cut shares of Schnitzer Steel Industries from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $38.00 to $26.00 in a research note on Wednesday, August 15th. ValuEngine upgraded shares of Schnitzer Steel Industries from a “strong sell” rating to a “sell” rating in a research note on Friday, October 26th. Macquarie set a $29.00 target price on shares of Schnitzer Steel Industries and gave the stock a “hold” rating in a research report on Thursday, October 25th. BidaskClub upgraded shares of Schnitzer Steel Industries from a “strong sell” rating to a “sell” rating in a research report on Friday, October 26th. Finally, Zacks Investment Research cut shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research report on Saturday, August 18th.

Shares of NASDAQ SCHN opened at $27.57 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.76 and a debt-to-equity ratio of 0.16. Schnitzer Steel Industries has a 52 week low of $23.70 and a 52 week high of $38.85. The stock has a market capitalization of $738.84 million, a P/E ratio of 5.12 and a beta of 1.13.

Schnitzer Steel Industries (NASDAQ:SCHN) last announced its quarterly earnings data on Wednesday, October 24th. The basic materials company reported $2.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $1.11. Schnitzer Steel Industries had a net margin of 6.62% and a return on equity of 23.08%. The firm had revenue of $670.00 million during the quarter, compared to analysts’ expectations of $641.60 million. During the same quarter last year, the business earned $0.63 earnings per share. The business’s revenue for the quarter was up 35.6% compared to the same quarter last year. As a group, research analysts anticipate that Schnitzer Steel Industries will post 2.54 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 26th. Shareholders of record on Monday, November 12th will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Thursday, November 8th. Schnitzer Steel Industries’s payout ratio is currently 13.91%.

In other Schnitzer Steel Industries news, CFO Richard Peach sold 18,067 shares of Schnitzer Steel Industries stock in a transaction dated Tuesday, November 6th. The shares were sold at an average price of $27.29, for a total transaction of $493,048.43. Following the completion of the transaction, the chief financial officer now owns 133,950 shares in the company, valued at $3,655,495.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Peter B. Saba sold 7,356 shares of Schnitzer Steel Industries stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $26.64, for a total transaction of $195,963.84. Following the transaction, the senior vice president now owns 44,198 shares of the company’s stock, valued at approximately $1,177,434.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,170 shares of company stock valued at $1,335,920. 3.50% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in shares of Schnitzer Steel Industries by 6.6% during the second quarter. BlackRock Inc. now owns 2,847,448 shares of the basic materials company’s stock worth $95,958,000 after buying an additional 175,455 shares in the last quarter. Teachers Advisors LLC grew its holdings in shares of Schnitzer Steel Industries by 1.4% during the third quarter. Teachers Advisors LLC now owns 666,449 shares of the basic materials company’s stock worth $18,027,000 after buying an additional 9,518 shares in the last quarter. Matarin Capital Management LLC purchased a new stake in shares of Schnitzer Steel Industries during the third quarter worth about $13,596,000. Prudential Financial Inc. grew its holdings in shares of Schnitzer Steel Industries by 2.7% during the third quarter. Prudential Financial Inc. now owns 365,334 shares of the basic materials company’s stock worth $9,882,000 after buying an additional 9,620 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Schnitzer Steel Industries by 15.8% during the third quarter. JPMorgan Chase & Co. now owns 358,624 shares of the basic materials company’s stock worth $9,701,000 after buying an additional 48,869 shares in the last quarter. Institutional investors own 89.71% of the company’s stock.

About Schnitzer Steel Industries

Schnitzer Steel Industries, Inc recycles ferrous and nonferrous scrap metals; and manufactures finished steel products worldwide. It operates through two segments, Auto and Metals Recycling (AMR); and Cascade Steel and Scrap (CSS). The AMR segment buys, collects, processes, recycles, sells, and brokers scrap metals, as well as processes mixed and large pieces of scrap metal into smaller pieces by crushing, torching, shearing, shredding, and sorting.

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