Cable Hill Partners LLC lowered its stake in Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) by 80.8% in the second quarter, Holdings Channel.com reports. The institutional investor owned 7,819 shares of the basic materials company’s stock after selling 33,000 shares during the quarter. Cable Hill Partners LLC’s holdings in Schnitzer Steel Industries were worth $384,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. C M Bidwell & Associates Ltd. acquired a new stake in shares of Schnitzer Steel Industries in the first quarter valued at about $49,000. US Bancorp DE grew its stake in Schnitzer Steel Industries by 284.3% during the 2nd quarter. US Bancorp DE now owns 1,322 shares of the basic materials company’s stock valued at $65,000 after purchasing an additional 978 shares in the last quarter. Marshall Wace LLP acquired a new stake in Schnitzer Steel Industries during the 1st quarter valued at approximately $71,000. Royal Bank of Canada grew its stake in Schnitzer Steel Industries by 123.1% during the 1st quarter. Royal Bank of Canada now owns 1,809 shares of the basic materials company’s stock valued at $75,000 after purchasing an additional 998 shares in the last quarter. Finally, Pinz Capital Management LP acquired a new stake in Schnitzer Steel Industries during the 1st quarter valued at approximately $130,000. Institutional investors and hedge funds own 81.51% of the company’s stock.
SCHN has been the subject of a number of recent analyst reports. Northland Securities initiated coverage on Schnitzer Steel Industries in a research note on Monday, July 19th. They set an “outperform” rating for the company. Zacks Investment Research lowered Schnitzer Steel Industries from a “hold” rating to a “sell” rating in a research report on Thursday, September 23rd. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. According to data from MarketBeat, Schnitzer Steel Industries currently has an average rating of “Buy” and a consensus target price of $42.67.
Schnitzer Steel Industries Profile
Schnitzer Steel Industries, Inc engages in the recycling of ferrous and nonferrous scrap metal and manufacture of finished steel products. It operates through the following segments: Auto and Metals Recycling (AMR) and Cascade Steel and Scrap (CSS). The AMR segment acquires and recycles ferrous and nonferrous scrap metal for sale to foreign and domestic metal producers, processors and brokers and procure salvaged vehicles and sells serviceable used auto parts from these vehicles through a network of self-service auto parts stores.
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