Hillcrest Asset Management LLC acquired a new position in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 200,762 shares of the basic materials company’s stock, valued at approximately $5,651,000. Hillcrest Asset Management LLC owned about 0.74% of Schnitzer Steel Industries at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Numeric Investors LLC increased its stake in Schnitzer Steel Industries by 25.0% in the 2nd quarter. Numeric Investors LLC now owns 45,000 shares of the basic materials company’s stock worth $1,134,000 after acquiring an additional 9,000 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in Schnitzer Steel Industries in the 3rd quarter worth approximately $597,000. Stifel Financial Corp increased its stake in Schnitzer Steel Industries by 78.9% in the 2nd quarter. Stifel Financial Corp now owns 355,800 shares of the basic materials company’s stock worth $8,983,000 after acquiring an additional 156,882 shares during the last quarter. Royce & Associates LP increased its stake in Schnitzer Steel Industries by 42.0% in the 2nd quarter. Royce & Associates LP now owns 339,253 shares of the basic materials company’s stock worth $8,549,000 after acquiring an additional 100,300 shares during the last quarter. Finally, Teachers Advisors LLC increased its stake in Schnitzer Steel Industries by 10.6% in the 1st quarter. Teachers Advisors LLC now owns 477,498 shares of the basic materials company’s stock worth $9,860,000 after acquiring an additional 45,664 shares during the last quarter. 84.89% of the stock is currently owned by institutional investors and hedge funds.
Schnitzer Steel Industries, Inc. (SCHN) traded up $0.35 during midday trading on Tuesday, hitting $27.25. The stock had a trading volume of 196,100 shares, compared to its average volume of 432,618. The company has a market cap of $727.97, a P/E ratio of 17.58 and a beta of 1.37. The company has a current ratio of 1.92, a quick ratio of 0.97 and a debt-to-equity ratio of 0.27. Schnitzer Steel Industries, Inc. has a 52-week low of $17.50 and a 52-week high of $31.35.
Schnitzer Steel Industries (NASDAQ:SCHN) last released its earnings results on Tuesday, October 24th. The basic materials company reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The firm had revenue of $494.00 million for the quarter, compared to the consensus estimate of $495.73 million. Schnitzer Steel Industries had a return on equity of 8.49% and a net margin of 2.64%. The company’s revenue for the quarter was up 26.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS. research analysts expect that Schnitzer Steel Industries, Inc. will post 2.02 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 27th. Stockholders of record on Monday, November 13th will be given a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Friday, November 10th. Schnitzer Steel Industries’s dividend payout ratio is currently 47.17%.
In other Schnitzer Steel Industries news, SVP Jeffery Dyck sold 8,327 shares of the company’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $30.05, for a total value of $250,226.35. Following the transaction, the senior vice president now owns 49,184 shares of the company’s stock, valued at approximately $1,477,979.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Stefano R. Gaggini sold 1,074 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $28.97, for a total value of $31,113.78. Following the completion of the transaction, the vice president now directly owns 16,480 shares in the company, valued at approximately $477,425.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,377 shares of company stock worth $591,457. Corporate insiders own 3.80% of the company’s stock.
A number of analysts have issued reports on the company. Zacks Investment Research raised Schnitzer Steel Industries from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Saturday, October 21st. Morgan Stanley boosted their target price on Schnitzer Steel Industries from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 31st. KeyCorp reissued a “hold” rating on shares of Schnitzer Steel Industries in a research report on Wednesday, October 11th. ValuEngine raised Schnitzer Steel Industries from a “hold” rating to a “buy” rating in a research report on Thursday, October 5th. Finally, Macquarie began coverage on Schnitzer Steel Industries in a research report on Wednesday, September 6th. They set a “neutral” rating and a $26.00 target price on the stock. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Schnitzer Steel Industries currently has a consensus rating of “Hold” and a consensus price target of $29.33.
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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