Insider Selling: Richard C. Josephson Sells 1,950 Shares of Schnitzer Steel Industries Stock (SCHN)
Schnitzer Steel Industries (NASDAQ:SCHN) SVP Richard C. Josephson unloaded 1,950 shares of the stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $27.34, for a total value of $53,313.00. Following the completion of the transaction, the senior vice president now directly owns 42,080 shares of the company’s stock, valued at approximately $1,150,467. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Schnitzer Steel Industries (NASDAQ:SCHN) traded down 1.64% during mid-day trading on Monday, hitting $26.97. 52,743 shares of the company’s stock traded hands. Schnitzer Steel Industries has a 52-week low of $24.13 and a 52-week high of $33.32. The stock’s 50-day moving average is $26.23 and its 200-day moving average is $26.88. The company’s market cap is $724.2 million.
Schnitzer Steel Industries (NASDAQ:SCHN) last released its earnings data on Thursday, June 26th. The company reported $0.16 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.08 by $0.08. The company had revenue of $638.00 million for the quarter, compared to the consensus estimate of $650.16 million. During the same quarter last year, the company posted $0.09 earnings per share. Schnitzer Steel Industries’s revenue was down 10.1% compared to the same quarter last year. Analysts expect that Schnitzer Steel Industries will post $0.27 EPS for the current fiscal year.
Separately, analysts at Jefferies Group cut their price target on shares of Schnitzer Steel Industries from $23.00 to $22.00 in a research note on Monday, June 23rd. They now have an “underperform” rating on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Schnitzer Steel Industries has a consensus rating of “Hold” and an average target price of $28.27.
Schnitzer Steel Industries, Inc (NASDAQ:SCHN) is a recycler of ferrous and nonferrous scrap metal.
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