Schnitzer Steel Industries (NASDAQ:SCHN) Shares Down 6.2%


Share on StockTwits

Shares of Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) were down 6.2% during trading on Thursday . The company traded as low as $38.71 and last traded at $39.17. Approximately 3,929 shares traded hands during trading, a decline of 99% from the average daily volume of 323,214 shares. The stock had previously closed at $41.75.

A number of equities analysts recently commented on SCHN shares. KeyCorp boosted their target price on shares of Schnitzer Steel Industries from $28.00 to $35.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 22nd. TheStreet upgraded shares of Schnitzer Steel Industries from a “c+” rating to a “b” rating in a research note on Thursday, January 7th. Finally, Zacks Investment Research upgraded shares of Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $45.00 target price for the company in a research note on Tuesday, March 9th.

The company has a debt-to-equity ratio of 0.21, a current ratio of 1.88 and a quick ratio of 1.01. The business’s 50 day moving average is $39.96 and its 200 day moving average is $30.13. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 65.38 and a beta of 1.37.

Schnitzer Steel Industries (NASDAQ:SCHN) last announced its quarterly earnings results on Tuesday, April 6th. The basic materials company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.52. Schnitzer Steel Industries had a net margin of 0.94% and a return on equity of 4.83%. During the same period in the previous year, the firm earned $0.31 earnings per share. As a group, analysts forecast that Schnitzer Steel Industries, Inc. will post 2.33 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, May 3rd. Investors of record on Monday, April 19th will be given a $0.1875 dividend. The ex-dividend date is Friday, April 16th. This represents a $0.75 dividend on an annualized basis and a yield of 1.91%. Schnitzer Steel Industries’s dividend payout ratio (DPR) is presently 174.42%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its position in Schnitzer Steel Industries by 8.6% in the fourth quarter. BlackRock Inc. now owns 3,053,268 shares of the basic materials company’s stock valued at $97,429,000 after acquiring an additional 241,076 shares during the last quarter. Alliancebernstein L.P. lifted its position in Schnitzer Steel Industries by 23.9% in the fourth quarter. Alliancebernstein L.P. now owns 1,285,587 shares of the basic materials company’s stock valued at $41,023,000 after acquiring an additional 248,157 shares during the last quarter. FIL Ltd lifted its position in Schnitzer Steel Industries by 6.1% in the fourth quarter. FIL Ltd now owns 815,402 shares of the basic materials company’s stock valued at $26,019,000 after acquiring an additional 46,545 shares during the last quarter. Morgan Stanley lifted its position in Schnitzer Steel Industries by 6.1% in the fourth quarter. Morgan Stanley now owns 490,879 shares of the basic materials company’s stock valued at $15,664,000 after acquiring an additional 28,048 shares during the last quarter. Finally, Aperio Group LLC raised its holdings in shares of Schnitzer Steel Industries by 1.0% in the fourth quarter. Aperio Group LLC now owns 306,425 shares of the basic materials company’s stock valued at $9,778,000 after buying an additional 3,171 shares during the last quarter. 80.89% of the stock is owned by hedge funds and other institutional investors.

Schnitzer Steel Industries Company Profile (NASDAQ:SCHN)

Schnitzer Steel Industries, Inc recycles ferrous and nonferrous scrap metals; and manufactures finished steel products worldwide. The company operates in 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.

Featured Article: What is the significance of the death cross?

Receive News & Ratings for Schnitzer Steel Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schnitzer Steel Industries and related companies with MarketBeat.com's FREE daily email newsletter.