Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) has been assigned a consensus rating of “Hold” from the six research firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $27.00.

A number of research firms have commented on SCHN. Zacks Investment Research downgraded shares of Schnitzer Steel Industries from a “hold” rating to a “sell” rating in a report on Friday, August 30th. ValuEngine downgraded shares of Schnitzer Steel Industries from a “hold” rating to a “sell” rating in a report on Saturday, August 10th. BidaskClub upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Cowen restated a “market perform” rating and set a $25.00 price target (up previously from $24.00) on shares of Schnitzer Steel Industries in a report on Tuesday, June 25th.

Several hedge funds and other institutional investors have recently made changes to their positions in SCHN. BNP Paribas Arbitrage SA increased its holdings in shares of Schnitzer Steel Industries by 231.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,792 shares of the basic materials company’s stock worth $187,000 after buying an additional 5,444 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Schnitzer Steel Industries by 20.2% during the 1st quarter. Bank of Montreal Can now owns 8,866 shares of the basic materials company’s stock worth $213,000 after buying an additional 1,493 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Schnitzer Steel Industries by 24.1% during the 1st quarter. Victory Capital Management Inc. now owns 114,278 shares of the basic materials company’s stock worth $2,743,000 after buying an additional 22,172 shares during the last quarter. IndexIQ Advisors LLC acquired a new stake in shares of Schnitzer Steel Industries during the 1st quarter worth approximately $1,583,000. Finally, New York State Teachers Retirement System acquired a new stake in shares of Schnitzer Steel Industries during the 1st quarter worth approximately $55,000. Institutional investors and hedge funds own 86.07% of the company’s stock.

SCHN stock traded up $0.63 during mid-day trading on Friday, reaching $25.28. The company’s stock had a trading volume of 3,469 shares, compared to its average volume of 157,464. The stock has a market cap of $635.44 million, a PE ratio of 4.68 and a beta of 1.50. The company has a current ratio of 2.36, a quick ratio of 1.22 and a debt-to-equity ratio of 0.20. Schnitzer Steel Industries has a fifty-two week low of $20.94 and a fifty-two week high of $28.90. The company’s 50 day moving average is $23.97 and its two-hundred day moving average is $24.04.

Schnitzer Steel Industries (NASDAQ:SCHN) last released its quarterly earnings data on Wednesday, June 26th. The basic materials company reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.02. The company had revenue of $547.00 million during the quarter, compared to the consensus estimate of $542.24 million. Schnitzer Steel Industries had a net margin of 4.63% and a return on equity of 15.72%. Schnitzer Steel Industries’s quarterly revenue was down 16.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.26 EPS. On average, analysts forecast that Schnitzer Steel Industries will post 2.25 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were issued a dividend of $0.1875 per share. The ex-dividend date was Monday, August 12th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.97%. Schnitzer Steel Industries’s dividend payout ratio is currently 13.91%.

About Schnitzer Steel Industries

Schnitzer Steel Industries, Inc recycles ferrous and nonferrous scrap metals; and manufactures finished steel products worldwide. The company operates through two segments, Auto and Metals Recycling (AMR), and Cascade Steel and Scrap (CSS). The AMR segment acquires, processes, and recycles 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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