AlphaCrest Capital Management LLC Buys New Holdings in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN)

AlphaCrest Capital Management LLC purchased a new stake in shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHNGet Rating) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 22,157 shares of the basic materials company’s stock, valued at approximately $1,150,000. AlphaCrest Capital Management LLC owned about 0.08% of Schnitzer Steel Industries as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its stake in Schnitzer Steel Industries by 15.2% during the 3rd quarter. American Century Companies Inc. now owns 75,450 shares of the basic materials company’s stock valued at $3,305,000 after purchasing an additional 9,950 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Schnitzer Steel Industries by 9.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 40,536 shares of the basic materials company’s stock worth $1,768,000 after buying an additional 3,547 shares during the last quarter. Koshinski Asset Management Inc. purchased a new position in shares of Schnitzer Steel Industries in the 4th quarter worth approximately $37,000. Pendal Group Ltd boosted its stake in shares of Schnitzer Steel Industries by 306.9% in the 4th quarter. Pendal Group Ltd now owns 19,741 shares of the basic materials company’s stock worth $1,025,000 after buying an additional 14,890 shares during the last quarter. Finally, Credit Suisse AG boosted its stake in shares of Schnitzer Steel Industries by 9.2% in the 3rd quarter. Credit Suisse AG now owns 36,398 shares of the basic materials company’s stock worth $1,594,000 after buying an additional 3,054 shares during the last quarter. Institutional investors and hedge funds own 83.90% of the company’s stock.

SCHN has been the topic of a number of research analyst reports. KeyCorp boosted their target price on Schnitzer Steel Industries from $59.00 to $62.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 20th. Zacks Investment Research raised shares of Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $60.00 price target on the stock in a report on Tuesday, April 12th. Finally, StockNews.com initiated coverage on shares of Schnitzer Steel Industries in a report on Thursday, March 31st. They issued a “hold” rating on the stock.

In other Schnitzer Steel Industries news, SVP Peter B. Saba sold 1,178 shares of the business’s stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $44.46, for a total transaction of $52,373.88. Following the sale, the senior vice president now owns 63,261 shares of the company’s stock, valued at approximately $2,812,584.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 6.20% of the company’s stock.

NASDAQ:SCHN opened at $37.40 on Friday. The company has a current ratio of 2.00, a quick ratio of 1.02 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $1.03 billion, a PE ratio of 5.70 and a beta of 1.48. The firm’s 50 day moving average is $49.07 and its 200 day moving average is $47.99. Schnitzer Steel Industries, Inc. has a 12 month low of $35.34 and a 12 month high of $59.70.

Schnitzer Steel Industries (NASDAQ:SCHNGet Rating) last issued its earnings results on Wednesday, April 6th. The basic materials company reported $1.38 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.38. Schnitzer Steel Industries had a net margin of 5.86% and a return on equity of 24.20%. The business had revenue of $783.20 million for the quarter, compared to analysts’ expectations of $779.39 million. During the same quarter in the previous year, the firm posted $1.51 EPS. The business’s revenue for the quarter was up 30.5% compared to the same quarter last year. Research analysts predict that Schnitzer Steel Industries, Inc. will post 7.53 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, May 2nd. Shareholders of record on Monday, April 18th were issued a dividend of $0.1875 per share. The ex-dividend date was Thursday, April 14th. This represents a $0.75 dividend on an annualized basis and a yield of 2.01%. Schnitzer Steel Industries’s payout ratio is 11.72%.

Schnitzer Steel Industries Company Profile (Get Rating)

Schnitzer Steel Industries, Inc recycles ferrous and nonferrous metal, and manufactures finished steel products worldwide. The company acquires, processes, and recycles salvaged vehicles, rail cars, home appliances, industrial machinery, manufacturing scrap, and construction and demolition scrap. It offers recycled ferrous metal, a feedstock used in the production of finished steel products; and nonferrous products, including mixed metal joint products recovered from the shredding process, such as zorba, zurik, aluminum, copper, stainless steel, nickel, brass, titanium, lead, and high temperature alloys.

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

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