Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Friday.

Other equities research analysts have also recently issued reports about the stock. Macquarie began coverage on shares of Schnitzer Steel Industries in a research report on Wednesday, September 6th. They issued a “neutral” rating and a $26.00 target price on the stock. BidaskClub cut shares of Schnitzer Steel Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Zacks Investment Research raised shares of Schnitzer Steel Industries from a “hold” rating to a “strong-buy” rating and set a $29.00 target price on the stock in a research report on Wednesday, August 16th. Finally, TheStreet raised shares of Schnitzer Steel Industries from a “c+” rating to a “b” rating in a research report on Friday, June 30th. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. Schnitzer Steel Industries presently has a consensus rating of “Hold” and an average target price of $27.50.

Schnitzer Steel Industries (NASDAQ SCHN) traded up 2.49% during midday trading on Friday, hitting $26.80. 750,577 shares of the stock were exchanged. The firm has a 50 day moving average of $25.91 and a 200-day moving average of $22.40. The stock has a market cap of $739.68 million, a price-to-earnings ratio of 17.43 and a beta of 1.33. Schnitzer Steel Industries has a 12-month low of $17.50 and a 12-month high of $30.60.

Schnitzer Steel Industries (NASDAQ:SCHN) last released its earnings results on Monday, June 26th. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.56. Schnitzer Steel Industries had a net margin of 2.68% and a return on equity of 8.34%. The business had revenue of $477.00 million for the quarter. During the same period in the prior year, the business posted $0.46 earnings per share. Schnitzer Steel Industries’s revenue was up 35.5% on a year-over-year basis. On average, equities analysts expect that Schnitzer Steel Industries will post $1.47 earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd purchased a new position in Schnitzer Steel Industries in the second quarter valued at approximately $949,000. Koch Industries Inc. purchased a new position in Schnitzer Steel Industries in the second quarter valued at approximately $367,000. Rutabaga Capital Management LLC MA raised its holdings in Schnitzer Steel Industries by 69.4% in the second quarter. Rutabaga Capital Management LLC MA now owns 891,536 shares of the basic materials company’s stock valued at $22,467,000 after buying an additional 365,259 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Schnitzer Steel Industries by 4.6% in the second quarter. The Manufacturers Life Insurance Company now owns 21,261 shares of the basic materials company’s stock valued at $536,000 after buying an additional 942 shares during the period. Finally, BlueCrest Capital Management Ltd purchased a new position in Schnitzer Steel Industries in the second quarter valued at approximately $228,000. Hedge funds and other institutional investors own 82.37% of the company’s stock.

Schnitzer Steel Industries Company 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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